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Prime funds offer good service and provide easy-to-read quarterly statements. Mike’s were demanding to interpret. He couldn’t even tell at a peek what his investment in mutual funds was valued at. Mike was both right and misguided. No, his salesman take money out of his account, directly. The fund company did it for the child. Yes, it was fair to point out that these hadn’t been good investments, and NOT the top funds which is available from the INVESTOR’S point of view. Both were stock funds, and Mike had lost money in both in the first place.
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