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Buck

• Slang for one million dollars.

 
 Referenced Terms
 Money market fund: A mutual fund that invests only in short term securities, such as bankers' acceptances, commercial paper, repurchase agreements and government bills. The net asset value per share is maintained at $1. 00. Such funds are not federally insured, although the portfolio may consist of guaranteed securities and/or the fund may have private insurance protection.Mutual fund that invests solely in money market instruments.A Mutual Fund that invests in short-term debt instruments. The fund's objective is to earn interest while maintaining a stable net asset value of $1.00 per share. Generally sold with no load, the fund may also offer draft-writing privileges and low opening investments.Are mutual funds which invest in short-term instruments such as treasury bills, commercial paper, and asset backed securities (ABS). Broadly defined, these investments have maturities, and for some, durations less than a year. Often, these funds try to keep the average maturity or quantitative duration within 2-3 months. Also, these funds try to maintain a net asset value (NAV) of $1 per share. However, this price level is not guaranteed and there have been cases where it was broken. In the latter case, it is known as breaking a Buck.

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