|
Posted by Marty K on December 10, 2007, 8:55 pm
Please log in for more thread options
John Pollard wrote:
> Marty K wrote:
>> Well I took a long look at what was going on and did a couple
>> of quick
>> calculations and found that the price per share was 84.65
>> rather then
>> a dollar a share (its a money market account). Guess I was
>> misled by
>> the one huge price increase and (at first) did not look
>> closer.
>> I did another update at 6PM and now the price per share shows
>> $1 but
>> the Daily change is $-83.65 and all of the balances agree with
>> Vanguard. So where ever the shares prices are coming from were
>> messed
>> up this morning and look like it has been corrected. Won't
>> know for
>> sure until I do another update tomorrow.
>
> Check your Quicken price history for the mm fund.
>
> Sometime in this year, Quicken has begun occasionally exhibiting
> a problem with money market mutual fund pricing.
>
> I'm not sure whether this problem is a part of the larger
> Quicken price download problem (which Intuit has already
> acknowledged, and has explained is significant, and said will
> take a long time to fix).
>
> Occasionally - not very frequently, in my experience - Quicken
> violates it's policy of not "downloading" prices for mm mutual
> funds (any fund whose symbol ends in "XX"). Worse, Quicken
> downloads totally erroneous prices for those mm funds. When I
> see this phenomena, I notice mm fund prices/share in the $4 to
> $5 dollar range (but there is no reason I can think of why the
> incorrect price/share would be limited to that range) ... if you
> already have a lot of mm fund shares, this could make a
> significant difference in your reported net worth.
>
> When I see the problem, I open the price history for the mm
> fund, delete the prices, then make sure there is a $1
> price/share at least as old as my oldest holding.
>
> Sorry; I didn't even think of that when I read your post. But
> it does show how important details can be when reporting a
> problem: if you'd said your problem was with a mm fund, I would
> have reported the problem that I've seen.
>
> [And whenever you find what you believe to be a net worth
> problem that relates to investment accounts, you should make it
> a point to check your Quicken price history as part of your
> investigation.]
>
Absolutely right! I was so shocked by the $11M error I did not
study the overall MM fund to see if there were other anomalies which
there was. Next time (never I hope) I will look farther at all
entries.
Marty
| 
Yahoo! 
Google 
Windows Live 
del.icio.us 
digg 
Netscape 
XML Sitemap