Aron Chazen, a principal in online money fund trading portal TreasuryCurve, wrote an article for a recent issue of AFP Risk! entitled "Assessing Market Risk". Chazen says, "When I began my career in institutional cash in 1991, clients typically rolled repo or kept their money in traditional bank accounts earning little or no interest. Today, I have seen treasurers invest in securities they don't understand, don't know how to price nor have the resources to do either. Regardless of the impressions that may exist, institutional treasurers are not typically greedy. Their compensation is not based on earning an extra basis point on their investments. To the contrary, treasurers know their jobs are on the line if their portfolios are not safe and liquid."
