down, down

When I saw the Inquirer's business headline today, I could
only think, "Patay!" (I'm dead). Its headline is "Peso shaken,
markets stirred". (URL:
http://money.inq7.net/topstories/view_topstories.php?yyyy=2006&mon=06&dd=14&file=1)

I didn't use to bother about money market. It's just
statistics to me.

But when I tried to include my mother in my bank account
last Saturday, I learned just how important these numbers and
movements are to me.

I was told that if I included my mother in my UITF (unit
investment trust fund) in Banco de Oro, it would be terminated. Only
then could we open a joint UITF account. But if my account was
cancelled, my money's worth would be 3,000 pesos less than my original
placement. I was told that since Monday last week, UITF has been on a
downward trend. I was advised to close the account to minimize my
loses, just like other account holders are doing. I was advised that
this trend could be for several months. But I opted to let my money
be and hopefully regain its value soon. Since the other banks are
also losing in UITF, I can't think of any other place to invest my
savings.

sayong
06-14-06