In One Eye
Thursday, June 26, 2003
Even though equities are still very risky--and will remain so for who knows how long--I'd still rather take the risk than stay in this situation:
[W]ith current average annual yields of just 0.64 percent - and all but certain to drop even lower after Wednesday's rate cut - money market funds have become a cruel joke of late-night TV comedians. In the funds with high management costs and with below-average returns, some investors are barely breaking even.One might as well bury his money in the back yard.
Thank goodness I have to stay in a MMF for only a few more months.