Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Why off-topic? Money market funds are true, legal mutual funds. In contrast, people have no problem considering on-topic vehicles including: - some ETFs (like SPY) that are actually UITs (that cannot reinvest dividends/interest), - HOLDRs (which don't trade their holdings), and - that most un-fundlike vehicle, the single asset (ultimate in non-diversification) non-investment company commodity (GLD, SLV, etc.)
Seriously, when asked about the first fund I invested in, I often respond with a money market fund. (The answer depends in part on what the person means by "me" and by "invest" - I owned shares of another fund via Uniform Gift to Minors; it is not clear to me that "cash" is an "investment", etc.)
As you can see, enough ambiguity all around that MMFs really could be considered on-topic.
Comments
- some ETFs (like SPY) that are actually UITs (that cannot reinvest dividends/interest),
- HOLDRs (which don't trade their holdings), and
- that most un-fundlike vehicle, the single asset (ultimate in non-diversification) non-investment company commodity (GLD, SLV, etc.)
Seriously, when asked about the first fund I invested in, I often respond with a money market fund. (The answer depends in part on what the person means by "me" and by "invest" - I owned shares of another fund via Uniform Gift to Minors; it is not clear to me that "cash" is an "investment", etc.)
As you can see, enough ambiguity all around that MMFs really could be considered on-topic.