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To: george76

My initial reaction to the credit “crunch” last year (apart from bailing on equities) was to wonder about the state pension funds. Everybody looked at me like I was from mars.

I downloaded the .pdf for my states fund. I don’t have any money in it at all but I thought it would make a good bellwether. I read it and didn’t like it a whole bunch 6 months ago. I read it again and I really don’t like it - all the “usual suspects” are there, along with a portion of the portfolio was allowed to trade in CDS (collateralized debt swaps) and MBS (mortgage backed securities, etc.

I know “I told you so” is never in order, but c’mon.


2 posted on 10/31/2008 4:13:20 PM PDT by Freedom4US
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To: Freedom4US

Same for folks that didn’t understand what a ‘mutual fund’ was composed of.


9 posted on 10/31/2008 4:49:11 PM PDT by realdifferent1 (Press 'Preview', then 'Post'; Circle final answer: show all work for extra credit.)
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