Paypal money market fund

Discussion in 'Buying Tips and Advice' started by techlover828, Aug 2, 2008.

  1. techlover828 macrumors 68020

    techlover828

    Joined:
    Jun 28, 2007
    #1
    Does anyone use this? Am I misreading this or does it say there's a 2.3% yield in 7 days! I must be misinterpreting.

    here's a screenshot of the details:

    [​IMG]
     
  2. TataTata07 macrumors newbie

    Joined:
    Aug 2, 2008
    #2
    Read the Bold Print and this a Money Market Fund not Account so it is not insured by the FDIC and if you lose money you can't claim it back.

    This is like a Hedge Fund where they play with your money on the Stock Market and see if they make any money back and if they do, they give you some of the money.
     
  3. sushi Moderator emeritus

    sushi

    Joined:
    Jul 19, 2002
    Location:
    キャンプスワ&#
    #3
    I don't.

    You are misreading this.

    The 2.3% is a projected annual return, based upon the last 7 days performance.

    You are incorrect on this.

    A money market fund does not invest in the stock market. It invests in financial instruments.
     
  4. techlover828 thread starter macrumors 68020

    techlover828

    Joined:
    Jun 28, 2007
    #4
    ya I know, its essentially a mutual fund right?
     
  5. techlover828 thread starter macrumors 68020

    techlover828

    Joined:
    Jun 28, 2007
    #5
    ah, ok, thanks, that clears it up then, ok, thread can be closed.
     
  6. davidwarren macrumors 6502a

    Joined:
    Aug 28, 2007
    #6
    yup.
     
  7. sushi Moderator emeritus

    sushi

    Joined:
    Jul 19, 2002
    Location:
    キャンプスワ&#
    #7
    A mutual fund and a money market fund are not the same.

    A mutual fund generally invests in stocks.

    A money market fun invests in financial instruments and not stocks.
     
  8. alphaod macrumors Core

    alphaod

    Joined:
    Feb 9, 2008
    Location:
    NYC
    #8
    Whatever it is, you can still lose money so put your money in
    CD and forget about it.
     
  9. sushi Moderator emeritus

    sushi

    Joined:
    Jul 19, 2002
    Location:
    キャンプスワ&#
    #9
    Best to learn about the wide variety of ways to invest your money.

    Here is some info on money markets.

    WikiPedia Money Market Link.

    They are very low risk, AFAIK, never have a negative return.

    Nothing wrong with CDs.

    There's also bonds, T-Bills, etc.

    And of course regular savings accounts. Mine is getting round 3.5% right now. Love it.

    As far a mutual funds go, many recommend an S&P 500 Index Fund.

    Anyhow, best to be diversified in your investments.
     

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