Obamas and Wellington/Wellesley

[WilliamG]

Several of us use a combination of Wellington/ Wellesley in our portfolios. For those who think the new pres is pretty sharp, you may be interested in this article....

A look at Barack Obama the investor - MSN Money

 

[samclem]

"The two largest assets listed are a checking account with Northern Trust and an account with JPMorgan Private Client Asset Management, each in the range of $100,001 and $250,000."

Wellington and Wellesley are good choices, but when this story was written he had somewhere between $100,001 and $250,000 sitting in a checking account. I'm not sure how smart that is--he had to be earning next to nothing on it (unless the bank is giving him a "special" rate like the one he got for a previous home loan), and at the time this story was written, the amount in this checking account exceeded the then-current $100K limit on FDIC insurance (that is, unless it was a retirement account or was actually more than one account.)

 

[2B]

Obama hasn't been living on the same planet as the rest of us for at least a decade. I wouldn't base anything on what he did with his personal finances.

 

[W2R]

but when this story was written he had somewhere between $100,001 and $250,000 sitting in a checking account. I'm not sure how smart that is--he had to be earning next to nothing on it

At least if he still had that in his checking account last year, he didn't lose 35%...

 

[travelover]

So, have we decided to bring back the soapbox?

 

[samclem]

So, have we decided to bring back the soapbox?

Perish the thought! In just three posts we've explored the limits of FDIC insurance, the relative merits of investments in equities vs. bank accounts, and the fact that political leaders may have differing priorities (and differing access to "preferential financial services") than other people, thus limiting our ability to draw lessons from their personal financial behavior. Lots of information for everyone and not a political comment to be found. Thank goodness!

 

[FIREd]

If I remember well pres. GW Bush also had a significant amount of money invested in Wellington.

 

[NW-Bound]

Ah! Wellington, a bipartisan mutual fund! Why have I not yet have any money in that?

Just recently, some forum members had the audacity to even ponder the possibility that VG is a Ponzi scheme.

That is now a don't-care question as I know that having top dogs on my side will ensure recovery of my money if, heaven forbid, VG turns out to be a Ponzi scheme. Thanks to all earlier posters.

Samclem is right! It is a shame that this hidden gem of a thread is buried in the vestigial forum of "Political Topics". I propose that it be moved to the main forum of "Fire and Money", as it is of utmost importance to forum members.

And in case Unclemick is not around, psst Wellesley too.

 

[WilliamG]

"I propose that it be moved to the main forum of "Fire and Money", as it is of utmost importance to forum members."

I posted on "Fire and Money" and someone moved it. Took me a while this morning to find it again!

 

[travelover]

...........<snip>.......... Lots of information for everyone and not a political comment to be found. Thank goodness!

Obama hasn't been living on the same planet as the rest of us for at least a decade. I wouldn't base anything on what he did with his personal finances.