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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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Beware of fraud originating in phone messages and faxes: FDIC Consumer News has warned before about crooks who call or e-mail consumers and pretend to be legitimate companies or government agencies wanting people to "verify" or "resubmit" (divulge) confidential information such as bank account or credit card numbers as well as Social Security numbers, passwords and personal identification numbers. Here are variations to know about. More...

People of mediocre ability sometimes achieve outstanding success because they don't know when to quit. Most men succeed because they are determined to. George Herbert Allen

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