05 May 2012

Only Cash is Cash

It isn't necessarily the case that one should beware of all the investments known as "cash equivalents," such as money market funds or auction rate securities.

But one should definitely enter into these products, if one does so, with an understanding that they are not in fact the "equivalent" of a federally insured checking account. Only cash is cash.

I've provided a case study at Forbes.com recently.

Click here.

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Knowledge is warranted belief -- it is the body of belief that we build up because, while living in this world, we've developed good reasons for believing it. What we know, then, is what works -- and it is, necessarily, what has worked for us, each of us individually, as a first approximation. For my other blog, on the struggles for control in the corporate suites, see www.proxypartisans.blogspot.com.