Fidelity, Wellington Lose After Fannie, Freddie Drop

[danm]

Oops. Glad my 401k is all in PIMCO which bet on the other side - their bonds, instead of their stocks.

http://www.bloomberg.com/apps/news?p...zMk&refer=home

[crazy connie]

I wonder how many MF companies will take a 2% to 6% drop today? I know that several of the funds I eliminated earlier this year held up to 5% to 8% in FNMA & or GNMA. Hopefully just a blip for most folks here.

[Leonidas]

PIMCO's Paul Mcculley was on CNBC earlier this morning taking a victory lap. "We put our money where our mouth is."

[FIRE'd@51]

Quote:

Originally Posted by Leonidas PIMCO's Paul Mcculley was on CNBC earlier this morning taking a victory lap. "We put our money where our mouth is."

Yes, but I think they may have put their money in before opening their mouth. I'm curious what input Bill Gross had toward this decision by Paulson.

[FIREdreamer]

Quote:

Originally Posted by crazy connie I wonder how many MF companies will take a 2% to 6% drop today? I know that several of the funds I eliminated earlier this year held up to 5% to 8% in FNMA & or GNMA. Hopefully just a blip for most folks here.

I took an X-ray of my portfolio and based on the latest MF holding information available only 0.1% of my overall portfolio was invested in Fannie and Freddie stocks. I'll survive.

http://money.cnn.com/2008/09/07/news...ion=2008090714

Ouch, Bill Miller is taking another bath...

[youbet]

Quote:

Originally Posted by crazy connie I wonder how many MF companies will take a 2% to 6% drop today? I know that several of the funds I eliminated earlier this year held up to 5% to 8% in FNMA & or GNMA. Hopefully just a blip for most folks here.

Why do you think GNMA will suffer from the recent Freddie/Fannie actions? :confused: (I'm assuming you're talking about holding GNMA debt: ie., Vanguard GNMA Fund or similar.)

[haha]

Quote:

Originally Posted by FIRE'd@51 Yes, but I think they may have put their money in before opening their mouth. I'm curious what input Bill Gross had toward this decision by Paulson.

A lot!

[danm]

401k is up 1.4% today, 5% for the year. Go Bill!

Overall I'm up over 10% for the year. Investing for deflation has been profitable.

[audreyh1]

It's even better than a wash. Dodge and Cox Stock DODGX up 1.64% on the day.

Of course some of the other funds heavy in financials were up around 2.5% today.

Audrey

[harley]

What is this word "today"? I don't understand this word.