State of the economy - private accounts edition
Almost all mutual funds show negative returns
Gee, this has got to be good news for those pushing social security private accounts. Mutual funds, the type of investment most commonly made by people saving for retirement, took a dive in the first quarter of 2005.
U.S. diversity equity funds posted an average 2.53% negative return – meaning loss – for the quarter. Small cap growth funds lost 5.4%, and large cap growth funds lost 4.56%.
Well, that pretty much describes my 401(k) retirement investment portfolio. It’s a good thing I don’t have a SS private account, or it would most likely be invested in similar fashion, and I’d be SOL in my old age. Maybe I’ll start investing in dog food stock – that’s something that’s sure to go up.
And despite the billions being spent on handhelds, cell phones and, surprisingly, ringtones, technology funds were even bigger losers. Science and Technology funds posted a 9.01% negative return, and Telecommunications funds lost 6.98%.
About the only gains in funds came because of skyrocketing oil prices. Natural resources funds posted a positive return of 12.52%. That’s the law of supply and demand for ya – as supplies run short, prices go up.
Note to self: invest in oil and dog food. Now that’s a balanced portfolio.
Gee, this has got to be good news for those pushing social security private accounts. Mutual funds, the type of investment most commonly made by people saving for retirement, took a dive in the first quarter of 2005.
U.S. diversity equity funds posted an average 2.53% negative return – meaning loss – for the quarter. Small cap growth funds lost 5.4%, and large cap growth funds lost 4.56%.
Well, that pretty much describes my 401(k) retirement investment portfolio. It’s a good thing I don’t have a SS private account, or it would most likely be invested in similar fashion, and I’d be SOL in my old age. Maybe I’ll start investing in dog food stock – that’s something that’s sure to go up.
And despite the billions being spent on handhelds, cell phones and, surprisingly, ringtones, technology funds were even bigger losers. Science and Technology funds posted a 9.01% negative return, and Telecommunications funds lost 6.98%.
About the only gains in funds came because of skyrocketing oil prices. Natural resources funds posted a positive return of 12.52%. That’s the law of supply and demand for ya – as supplies run short, prices go up.
Note to self: invest in oil and dog food. Now that’s a balanced portfolio.
posted by Wyld Card at
4:19 PM
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