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Old 07-04-2011, 10:26 AM   #21
Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 3,805
Fidelity Cash Reserves shows a shadow price of $1.0003, a gross yield of 0.4%, and an expense ratio of 0.37%. Just barely breaking even, though that gross yield is only shown with 0.1% precision. Net yield of 0.03% as of 1/31/11. Currently they claim a 0.01% yield. I can't tell if they ever reduced expenses to stay above $1. Not exactly confidence inspiring.

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Old 07-06-2011, 05:35 AM   #22
Confused about dryer sheets
Join Date: Dec 2009
Posts: 2
Originally Posted by LOL! View Post
With the yield on MM funds under 0.05%, why does anybody have any money with them at all? It is laziness?
No, I just have an aversion to buying overvalued investments. IMHO, that describes most of the asset classes as of 7/6/2011. Having high cash balances gives me the flexibility to respond to better prices down the road (which I believe is inevitable).

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Old 07-06-2011, 06:10 AM   #23
Full time employment: Posting here.
Join Date: Jan 2008
Posts: 738
AMEX pays 1% (pre-tax) on their savings account. VG Short term tax-exempt bond fund (duration=1 year) pays .6% after-tax. Both are better options than MM fund IMO.

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