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The Vancouver Natural Resource Symposium is a dynamic event to attend—and be a part of. We invite you to join us and you’ll be rubbing shoulders with high-net-worth, like minded individuals whose collective knowledge is considerable. Andy Schectman will be addressing the general session Wednesday, July 26 from 9:45 to 10:00 am and then holding a special workshop from 2:20 to 2:50 pm in the Boardroom. Please call our office for more details. Stop by Booth C in the Pacific Foyer any time to contect. For travel details, please contact Opportunity Travel and mention that you are a Miles Franklin client.
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Andrew,
Do you see the DOW going from 20,000 to 10,000 during 2017?
I stopped putting monthly contributions in equity funds for
retirement and are sending them along with the entire fund into
a MM type secure fund. I did this anticipating a massive correction or even a 25-35% correction and then dump it all back in buying shares cheap and making monthly contributions into buying even cheaper shares. I see the current levels and see a sizable correction or 2000/2008 crash and then buy the equities shares on clearance sale. Thoughts? Thank you Andy!
Todd
Hi, Todd,
My only worry there, is what happens if they halt redemptions from the money market funds? There was at least one that did that back in ’08 http://www.marketwatch.com/story/money-market-fund-breaks-the-buck-freezes-redemptions
And here are the new rules at Fidelity:
“During periods of extraordinary market stress, institutional and retail prime and municipal funds will have the ability to charge liquidity fees, payable to the funds upon redemption, or temporarily halt redemptions by applying redemption “gates.””
https://www.fidelity.com/mutual-funds/fidelity-funds/money-market-funds-statement
I am doing some of what you are doing, I am just saying that you should ponder if you want to do that with 100% of your portfolio.