Re: Bonds, Savings Accounts, Money Market FUNDS, etc...
jively,
Bernstein believes that Emergency funds should be swept into the overall portfolio section of "cash, bonds", as indicated on page 272 of Four Pillars (I bought it on Amazon, and ponied up a couple extra bucks to get the digital version right away).
I got the impression on my first read through, and again, I just found this in his Chapter 12 summary:
"Manage all of your assets-personal savings , retirement accounts , emergency money , college accounts , and house savings-as one portfolio."
COPYRIGHTED MATERIAL
William J. Bernstein. The Four Pillars of Investing: Lessons for Building a Winning Portfolio. (McGraw-Hill, 2002). Page 241.
Clearly there are multiple ways of looking at this.
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