John Fowler, a wealth manager with McElhenny Sheffield Capital Management in Dallas, says he’s more cautious now than he was before the financial crisis and is investing clients’ extra cash in money-market accounts. The money isn’t earning much, but it’s not worth investing a client’s emergency cash in a more risky instrument for a bit more yield, he says.“We remember what happened to ultrashort duration bond funds, high-yield short duration funds and municipal auction-rate securities back in 2007 to 2008 when liquidity dried up completely and people weren’t able to get access to their ‘cash-like’ securities,” says Mr. Fowler, whose firm manages more than $200 million.

“Short-Term Investing Gets Complicated.” WSJ. Wall Street Journal, 21 May 2015. Web. 02 Feb. 2016.

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