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Rating:Cash is King for Fund Managers as Market Drops Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, May 12, 2008

Cash is King for Fund Managers as Market Drops

by: Erin Kello

Who's holding more cash as a safeguard against volatile market conditions? The WSJ's Jonathan Burton runs down a list of fund managers holding more of their respective funds in cash: Robert Rodriguez of FPA Capital Fund, who holds around 40 percent of his fund in cash; Don Yacktman, co-manager of the Yacktman Funds and Yacktman Focus Fund, who holds 25 percent of his fund in cash; and Bruce Berkowitz, co-manager of Fairholme Fund, who holds around 20 percent of his fund in cash routinely. There is a downside to cash, Burton warns, if the stock market swings back upwards, the fund can quickly go from leader to laggard.  

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