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TLT contains very little treasury bonds - factsI just discovered that TLT does not actually
contain too much in the way of treasury bonds. Could you imagine if
investors knew this? From the semi annual report, starting on page 17 (iShares Lehman 20+ Year Treasury Bond Fund) a.k.a. TLT. Net asset value at time of the statement, the 2008 semi annual, was $1.6 billion FACTS
The iShares TLT product has nearly half of its "super safe bonds" actually out on loan to hedge funds and has received commercial paper ("cash") as collateral... meaning a ton of the fund holds money market paper. It's not a treasury bond fund. The SEC should be all over this ... fraud fraud fraud Huge credit risk even though it is pitched as a "super safe" treasury product |
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