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Fidelity, Wellington Lose After Fannie, Freddie Drop
Old 09-08-2008, 08:22 AM   #1
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Fidelity, Wellington Lose After Fannie, Freddie Drop

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
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Old 09-08-2008, 09:37 AM   #2
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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.
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Old 09-08-2008, 09:41 AM   #3
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PIMCO's Paul Mcculley was on CNBC earlier this morning taking a victory lap. "We put our money where our mouth is."
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Old 09-08-2008, 09:52 AM   #4
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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.
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Old 09-08-2008, 10:53 AM   #5
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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...
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Old 09-08-2008, 10:58 AM   #6
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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.)
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Old 09-08-2008, 01:13 PM   #7
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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!
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Old 09-08-2008, 06:09 PM   #8
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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.
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Old 09-08-2008, 08:00 PM   #9
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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
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Old 09-08-2008, 08:06 PM   #10
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What is this word "today"? I don't understand this word.
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