What a party! The AFP, Association of Financial Professionals, annual conference just ended in Las Vegas, Nev., and boy was it fun for those that didn’t lose too much money. Seeing a room with almost every major money market mutual fund provider — all preaching safety, liquidity, and stability ahead of yield – next door to several casinos was a first for me. It definitely put things in perspective….
Highlights of the 2006 conference, for me, and perhaps for those in the money market or cash investment world, included:
1) The sheer number of money fund providers (30+) and portals (12) exhibiting or in attendance. There likely wasn’t a treasurer in the place that didn’t get asked whether they use money funds.
2) Vegas. Good parties and boring industries go together like neon lights and huge hotel buildings. Wachovia/Evergreen’s Tao bash was outrageous; Northern’s Tryst event was supposedly off the hook; and Barclay’s Hard Rock event was just getting going when I had to get out of there….
3) Seeing old friends. Money funds have always been such a niche business that “everybody knows everybody”. It was great to see so many people! (See the November Money Fund Intelligence for a serious discussion of some of the discussion topics.)
Regards,
Pete Crane
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