What are examples of “short-term debt”? How short is “short-term”?

When we refer to “short-term” debt, whether from the federal government, local governments or from a corporation, we are referring to bonds that mature in 3 years or less. 

I have a broker who manages my funds—are you suggesting I should pull my funds away to manage them myself with inexpensive products?

The first thing that is important is to weigh what you believe the “value” of these transactions are. If you have an expectation, it’s being met, and you feel you’re paying a fair price for it, there is nothing inherently “wrong” about paying broker commissions. However, many low-cost investment products exist that can fill a wide variety of investment needs, so I would strongly consider weighing the pros & cons of each.

When you talk about the fund managers, what are their backgrounds, how many managers does it take to manage a fund? Are they economists? Analysts? Mathematicians?

Generally, fund managers get their start working as Financial Analysts, and often work for a decade doing individual security analysis for their investment firm or investment bank. Actively managed funds will often also have a Chartered Financial Analyst on their team—someone who has gone through extensive investment analysis education.

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