The big bosses were in a meeting yesterday. Come to find out, they met with a company about switching the 401K over. Boss said that the very nice thing was is that they'll never lose more than 10%. I said "How's that?" ... he said "puts". Really? Who buys the puts and when? What happens when the market bounces and the puts are worthless? Boss: Uhhh ... you're beyond me, but these people had it together, they know what they're doing. Is this yet another little scam by these money managers? Maybe they're buying out of the money puts that have long expiration dates? Maybe they're constantly hedging w/ puts? I just don't see how you can hedge for free and never lose more than 10%. If so, wouldn't everyone do it? Perhaps they've limited the upside, but never talked about that. This is why I don't put a dime into a 401K.