Under these circumstances, investors still get the real yield they bargained for, but seasoned issues can expose investors to a risk of capital loss.

At worst, such a move could expose American investors to added risk and less protection, while leaving American stock markets at a new competitive disadvantage.

It has announced its intention not to borrow and therefore will not expose investors to levels of high gearing.

Among the complaints were that the loosening of investment protections would expose small and inexperienced investors to fraud.

Some have made (and lost) billions buying and selling previously regulated corporations, exposing investors to huge losses on "junk" bonds.

One reason may be that the fund's portfolio, rich in capital gains, exposes most investors to an unattractive tax bite.

Even so, going longer than the 90-day maximum permitted for money funds exposes investors to interest rate risk.

For example, in the Treasury market, long-term bonds, which expose investors to greater risk because of their longer maturities, are paying lower yields than short-term debt.

Ending it could encourage saving and help expose investors to the market's true fluctuations.

Calls expose investors to the very interest rate risk that the "buy and hold" method neutralizes.