# Are Dick Cheney's Money Managers Betting on Bad News?



## metric (28 March 2008)

http://www.kiplinger.com/features/archives/2006/05/president.html



> pity i didnt pick up this article when it was written....




Are Dick Cheney's Money Managers Betting on Bad News?
A look at the President and Vice President's financial disclosure forms.
By Steven Goldberg 
May 17, 2006

Vice President Cheney's financial advisers are apparently betting on a rise in inflation and interest rates and on a decline in the value of the dollar against foreign currencies. That's the conclusion we draw after scouring the financial disclosure form released by Cheney this week. 

As of the end of last year, Cheney and his wife, Lynne, held between $10 million and $25 million in Vanguard Short-Term Tax-Exempt fund (it's impossible to be more precise because the disclosure form lists holdings within ranges). The fund's holdings of tax-free municipal bonds mature, on average, in a little more than a year -- meaning that the fund should hold up well if rates rise. The Cheneys held another $1 million to $5 million in Vanguard Tax-Exempt Money Market fund, which is practically risk-free and could benefit from continued increases in short-term interest rates. And the couple had between $2 million and $10 million in Vanguard Inflation-Protected Securities fund. The principal and interest payments of inflation

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