The writer is a former investment banker and author of ‘Power Failure: The Rise and Fall of an American Icon’In the last 10 years, both retail and institutional investors have swarmed into US money-market mutual funds, supposedly a safe place to park money in the short term while figuring out what else to do with it. At the moment, some $5.6tn of cash sits in these funds, according to the Investment Company Institute, up from $2.6tn a decade ago.
本文作者曾是一名投资银行家，著有《 通用电气的失败：美国标杆企业的兴衰》(Power Failure: The Rise and Fall of an American Icon)一书。
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