What’s Your Google Exposure?
Google posted results yesterday that were deeply disappointing to Wall Street. At the close of after-market trading, Google was down over 11%. Many individuals may brush this off as no big deal – but many mutual funds have invested heavily in the search giant to prop up an otherwise less than stellar portfolio.
One of my mutuals has a heavy exposure, holding somewhere around 4,000,000 shares (I think that’s the number, but I won’t name its name in case I’m wrong). I guess I will find out after the closing bell today when the net asset values of all my mutuals are marked to market just how exposed to this one company I am.
Note that I am prepared for this and I think I have isolated it to one mutual fund. But I’m willing to be that others that take a backseat when managing their portfolios (IRAs, 401ks, savings, etc) won’t be so lucky.