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jack,
Thanks for being so generous with your knowledge and suggestions. Between your first and second posts, I showed my wife your first post and we had a bit of a knock down, drag 'm out set to over the whole matter. Her response was basically that two other Board members were a CPA and a banker, and that the Board had hired/arranged?? to have a Morgan Stanley person research the whole matter for them. She showed me an 'impressive' binder of the MS person's research which included 4-5 sub-proposals which include, with the Seix possibility, a CD ladder, another 100% fixed income option, and a couple of more diversified options. The research to me looked mostly past performance based with oodles of charts and tables, alphas and betas etc. It seems to me that the Board wants to make a little money without much risk and that the presentation allowed them to feel they were being conservative but would bring more income than the CD ladder. I don't believe they took into account the risks in bond funds, nor especially the effect of fees.
But it's pretty clear my wife doesn't care to hear more from me. I still appreciate being able to swap concerns and tactics with you.

Kevin
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