Getting Gamed by NC State Employee’s Bridge Account

Many of you will recall my excitement in early April when I moved my cash over to my bridge account which generates interest based on the returns of the S&P 500. June has proved what an absolutely brilliant move that was (note sarcasm). Wow, what an awful month. I was really doing great until about mid-May. Prior to the point of yesterday’s sell-off it was pretty much at break-even. Then it dropped another 3%. Yuck. Not a big loss really, just the 3.2% APY I would have gotten on $3k (so about $24). Oh well, I’ll let it ride through next quarter and we’ll see how it goes.

Read the 2010 UPDATE

Tagged with: ,