Thanks to John Kell for his article in the Wall Street Journal article on August 4, 2011 on page C9, entitled “Fund Assets Decline”.
This week investors have been pulling money out of long term mutual funds in each category. Assets in money market funds fell approximately $103,021,000,000 in the past week. This is the steepest decline since our last financial crisis. Unfortunately, with grim signs of an even more prospective ominous market, bankruptcy filings are likely to be on the rise in all categories. Investors are now more than ever looking for secure places to invest money. For this reason many banks, individuals and government entities have been looking to gold as an alternative, safe investment strategy.
What does this mean for you?
Be careful where you invest your money.
Now may be a good time to communicate with your financial advisor and seek safer financial strategies (diversification is the key here)