Does Cheney know something we don't?

[ladelfina]

The answer, one might assume, is "yes".

http://biz.yahoo.com/special/hfund0605_06_article5.html


The preznit's little HSA is kind of a hoot..

 

[LOL!]

What a silly little bit of old news! I suppose if a Kiplinger reporter looked at our assets, they would find whatever they wanted to and highlight that as well. We have money markets, we have (short-term & tax-exempt) bonds, we have US equities, we have foreign equities. It appears to be a typical asset allocation for someone near retirement and in a high tax bracket.

And why the apparent masthead "Hedge Funds in a Rocky Market"? The market is not rocky. Oh wait a minute, ... it's about the Rocky Mountains, right?

Yawn.

 

[Mwsinron]

He has 94 million. Of course he can sit in safe things that are paying such a high interest at the moment.

 

[LOL!]

I guess my point is that he has typical asset allocation of about 40% in fixed income, most of which is cash reserves and short-term bonds. This is a standard recommendation for someone his age.

I sure hope he is not paying for financial advice because his reported assets look pretty cookie cutter to me.

 

[ladelfina]

soooorry.

I guess what seemed particular was the short-term bond emphasis.

A related question, though... does anyone think politicians' blind trusts are really not subject to "leaks"?

 

[LOL!]

Standard and Poors' The Outlook has been recommending cah and short-term bonds for the fixed portion of one's portfolio for a few years now.

Paul Merriman of www.fundadvice.com has always said use short-term bonds and avoid long term and even avoid intermediate.

The PIMCO Total Return fund is now at 60% cash.

 

[LOL!]

How about this: Do you think North Korean generals bought gold a few weeks before they launched missiles and sold gold the day after they launched missiles?

 

[cute fuzzy bunny]

He has 94 million. Of course he can sit in safe things that are paying such a high interest at the moment.

Ding! Ding! Ding!

You cant look at rich peoples investments and try to divine anything from that which applies to the average ER or wannabe ER investor. Heck, last time i looked aside from microsoft stock a whole lot of Gates' stuff was in crappy boring bonds during the late 90's bull market.

 

[TromboneAl]

Interesting to see where the rich have their people put their money. Thanks for the post LD.

 

[ladelfina]

Still trying to figure out the HSA thing.

 

[LOL!]

There seems to be some over-interpretation of Cheney's assets by the reporters.  Since the financial asset form reports ranges, you get $94MM only by using the high end of the ranges reported.  One of the ranges for two of his mutual fund holdings is "between $5 million and $25 million", so we can possibly knock off $40 million or almost half if we use the low end number.  The two fund holdings were reported to be among his biggest assets.  So select 10 other assets worth $1 million each and Cheney could be worth only $20 million.  Easy come; easy go.

But the Cheney's donated $6.87 million to charity in 2005, so maybe they are were worth more than $20 million. 
http://www.whitehouse.gov/news/releases/2006/04/20060414-2.html


Anyways, my net worth is reported to be in the range of $13,140.88 and $100,000,000. So I must be worth more than Dick Cheney!

 

[cute fuzzy bunny]

Cheney could be worth only $20 million.

The poor bastard!