Like a lot of people, I invested in mutual funds through one form or another in order to supplement my pension. The trouble is I don't have a degree in finance, and nobody really ever explains the intracasies of these things when you're buying them. Admittedly, I am a financial moron. OK, now my question is this. Everyone tells you not to do this, but the inate gambler in me is still sore about losing so much cash in 2001. Therefore, last August with only 8 months before my retirement, I decided to pool all my money into a volitail international/emerging market fund (Morgan Stanley Emerging Markets - MGEMX) and hoped to regain some of my loss. The fund was doing excellent till Thursday when it took a huge drop. Somebody told me the reason this mutual fund dived so low was that it was "ex-dividending." Not knowing the first thing abiout what that means I pulled all my money out and put it in a safe account till I figure what to do next. Can somebody explain to me what happened?
2006-12-23
09:27:02
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7 answers
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asked by
Jumpin' Jack Flash
1
in
Investing