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Post by graybeard on Sept 10, 2008 18:40:08 GMT -6
A large part of my rollover IRA is in Fidelity mutual funds. They continue to get hammered in the last year, far beyond the DJ averages.
For example, FSAGX, their gold fund which invests in gold and gold mining, hit a high of 48 last November, and now sits at 25. It was last at 25 way back in May of 2005, when gold was $420. Gold is still at $760 or so. Even during the upslope, this fund did not rise as fast or far as gold.
Are they stealing from their own funds, or is something else going on? Fidelity came out clean in a prior mutual fund scandal, when some funds were caught with insider trading in their funds.
GB
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Post by agito on Sept 10, 2008 18:45:08 GMT -6
hhhhmmmmm- can you imagine mutual fund panic? everyone pulling money out of their mutual funds?
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Post by judes on Sept 10, 2008 20:00:29 GMT -6
It's happening already, but because people are losing their jobs and need money to keep afloat. I know many who are taking the penalty and cashing out their 401ks.
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Post by whoswho on Sept 11, 2008 6:38:41 GMT -6
Are ANY Fidelity funds doing anything worth a damn?
Seems like all I do is lose money. I didn't know if it was because I didn't make good choices, or whether the bad economy made them ALL bad choices.
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Post by agito on Sept 11, 2008 14:54:36 GMT -6
yep- bad economy makes them all bad choices.... i don't even know about t-bills at this point.
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Post by unlawflcombatnt on Sept 11, 2008 20:46:54 GMT -6
The TRUSX fund is still making money. It's as close to 100% Treasury bonds as I could find. It's value goes up when the value of Treasuries increase (or when the yield declines.) It's up about 3.8% in the last 10 months. (You can't track the long-term value increase through the share prices, as the stock has a scheduled split every 1-2 months.) One has to wonder how long this will continue, however. Treasuries have maintained their value so far, but that trend may not continue. However, the recent FNM-FRE bailout has not hurt this Treasury fund at all. It's probably still one of the safest places to put your money (at least, it's the lessor of the other evils.) Also, there is a GLD fund that almost perfectly tracks gold prices themselves. It's share price is about 1/10th of the current price of gold itself. I was able to verify, through studying 2 yr, 1 yr, 6 month, and 1 day charts that it tracks gold prices pretty closely. Here's a link and description of GLDfinance.yahoo.com/q/pr?s=GLD" The investment seeks to strive to reflect the performance of the price of gold bullion, less the Trust’s expenses. The Trust holds gold, and is expected to issue baskets in exchange for deposits of gold, and to distribute gold in connection with redemption of baskets. The gold held by the trust will only be sold on an as-needed basis to pay trust expenses, in the event the Trust terminates and liquidates its assets, or as otherwise required by law or regulation. The Trust is not managed like an active investment vehicle, and it's not registered as an investment company under the Investment Company Act of 1940." Since this is an ETF, and not actual solid gold, it may be acceptable as a 401K or IRA investment (But I don't for sure). Here's a 1-year chart showing its movement against the Dow Jones, the investment bank index (^XBD), the commercial bank index (^BKX), the 10-yr. Treasury (^TNX), the Dollar over the Euro (EUR), and Oil (^XOI) finance.yahoo.com/q/bc?t=1y&s=GLD&l=on&z=m&q=l&c=%5ETNX%2C%5EXBD%2C%5EBKX%2C%5EXOI%2CEURUSD%3DX
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