, traditional U.S. government bonds where “you know what you’re getting. They’re very large, very liquid and they essentially represent one thing.”
What to do now? Mr. Hood is keeping the funds in cash for three months, or until things stabilize in the markets, noting that he’s just “giving up 30-to-40 basis points for security ... There’s too much volatility out there, and there’s going to be more to come.”
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