Edited by HoseB, 14 August 2007 - 11:46 AM.
This is never good news.
#11
Posted 14 August 2007 - 11:41 AM
#12
Posted 14 August 2007 - 12:09 PM
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#13
Posted 14 August 2007 - 12:41 PM
http://www.forbes.co...afx4018389.html
"Thomson IFR Markets says, 'this is a scary development. If this problem spreads to Vanguard, Fidelity, and other large money market funds, funds with trillions of dollars, we shudder to think that we might see an old fashioned 'run on the bank'.'"
#14
Posted 14 August 2007 - 01:03 PM
Edited by humble1, 14 August 2007 - 01:04 PM.
#15
Posted 14 August 2007 - 02:36 PM
#16
Posted 14 August 2007 - 04:16 PM
I'm no expert on this MM, but most MM paper is very short term.
Before the attorneys can file their law suits, the principle should be paid off.
One hopes.
Remember when I said get your money markets in government funds?
Mark
Mark,
Can you suggest something safe when the money is in a 401k. (i.e. type of gov't mm fund)
I would look at the fund offerings. Check the prospectus. I would think that money market labled "US Government" (and/or "agency") should be free from any major issues. If you don't have that as an option in your 401-k, you might want to talk to the HR head, or whoever handles that stuff and tell them to tell the Trustee to make a change. If they balk, show them the article.
Other alternatives are just buying treasuries outright, staying in a just a sipc insured interest bearing account, CD's, or hedging everything off and write options against it.
Also, I wouldn't worry about the fund company going teats up because the assets are not held by the management company. Most fund companies hold managment companies that are hired by the mutual fund which segregates the assets (that the fund holders own) from the rest of the stuff.
Now, chances are, everything is going to be just fine, but again, why worry about your safe money. Don't we have enough to worry about?
Mark
Mark S Young
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