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Author: Lokicious Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 35397  
Subject: Re: I-Bonds before Nov 1 Date: 10/14/2003 11:11 AM
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"Thank you for the discussion on I-Bonds. I was watching 'Lois Rukeseyer' this evening(10/10/03) and one of his mutual fund manager guests had mentioned I-bonds as a place to park your money for the next 12 months for a guaranteed rate of return of about 4.5%."

If some bozo fund manager actually said this on King Louis' new show, and King Louis didn't jump down his throat (which he never has done and the reason I have never had the slightest respect for him), he needs to be forcibly abdicated from his minor league throne.

I-bonds may well be a good place to park money for the next year, if you happen to need a one year parking place (most people need money either in shorter or longer terms, however). But there is definitely not a guaranteed return of 4.5%—somewhere around 2.5-3%, with the lost 3 months interest, is the likely ball park, and the bozo should be obligated to explain the small print, assuming of course he has a clue. And, King Louis should know enough to scold him. And, both should also talk about I-bonds vs EE bonds (and other alternatives) as long term choices, plus folks on a public forum like that should acknowledge that using US Savings bonds for short term game playing goes counter to their stated purpose and if too many people misuse them, the treasury will probably make further changes in the rules to make them less convenient for game playing, which also will make them less convenient for those who intend to use them properly.

Given my observations over the years of fund managers and King Louis' failure to stomp on them when the speak self-promoting and self0pserving gibberish, I will assume the worst.

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