Broke The Buck

Whhooooaa, Cowboy! Tex was so busy training his steers for the upcoming rodeo that he didn’t notice that the net asset value (NAV) of the money market fund with his life’s savings fell to less than $1.00.

In financial parlance, this is known as “breaking the buck,” but when his financial planner told Tex, “your fund broke the buck,” Tex thought he meant it had damaged his prize cattle and closed his account.