I am completely new to the investment/trading scene. I just opened an account with my bank's investment services, and had to choose COLUMBIA CA TAX-EXPT RESERVES (NADXX) to hold my money in while I do trading. What is this, and why does it show my entire balance that I've placed in my account for trading?
No lectures about making an uninformed financial decision please. I just wanted to learn about stocks/trading and decided to jump in there (at a low risk), but I am not sure whether the money that is sitting in the above mentioned mutual fund could is at any risk.
thanks for any help you can give.
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