MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, September 18, 2008 WSJ Highlights Ironic Twist for The Reserve's Bent Thursday's WSJ Fund Track, penned by Shefali Anand and Diya Gullapalli, takes on The Reserve's founder Bruce Bent. Anand and Gullapalli use Bent's recent and past quotes about safe investment practices in money market funds to bring out the irony in the situation the Reserve now faces. For the full story on the the death of the Reserve and its Primary Fund, see MFWire's timeline. For instance, in an appearance on CNBC last Friday, three days before Lehman Brothers Holdings filed for bankruptcy protection, Bent said money funds do a "disservice to the investing public" when they they don't sufficiently research their holdings. Anand and Gullapalli also point to a message on The Reserve Web site, in which Bent says that many have "lost sight of the purpose of a money fund" in their "foolhardy quest for a few extra basis points" whereas the Reserve believes cash funds are "definitely not money to take risks with." Printed from: MFWire.com/story.asp?s=19355 Copyright 2008, InvestmentWires, Inc. All Rights Reserved |