Will losses at Bank of America...
 

wrote in message news:a2623a43-2559-44b4-b189-

And your childish name calling shows that you KNOW you messed that one
up! Just like your lover, Harry.

You really are a dimwit.

Will losses at Bank of America...
 

wrote in message
...
snip...
Rudy is just Hillary in a dress, I doubt he makes it past
Florida.


Say what? Rudy wears dresses???
You wacky 'mericans.........

Will losses at Bank of America...
 

On Tue, 22 Jan 2008 11:28:01 -0600, Vic Smith
wrote:

On Tue, 22 Jan 2008 17:12:08 GMT, Short Wave Sportfishing
wrote:

On Tue, 22 Jan 2008 10:06:19 -0600, Vic Smith
wrote:

The money market fund in mine was always a couple points lower than
"free market" rates were offering.

It's all about risk/reward. I'll bet your 401k money market funds
were being put to work in less risky markets.

Probably cost a point just for the fund manager vigorish these
401k's extract. Very little transparency with these funds, and they
can skim as well as any mob casino operator.

That's not true at all. If you drop into a fund which participates in
T-bills or muni, Fed funds or Fed Short Term, that's very transparent
- has to be by it's base function.

Even funds that do commercial paper or chase LIBOR spreads have to be
transparent. I'm not sure what you are talking about with "skimming".

My main complaint as I neared retirement was their was no low-risk
(read FDIC) place for my retirement money. Even money markets can go
negative, or so I was told.

Sure there is - it's called a savings account. Which, when you think
about it, is a money market fund that isn't transparent.

That's why it's insured. :)

But you may be right. After all most of my IRA CD money was tied up
in the mortgage market. Though it's FDIC insured, I was pleased
when BOC picked up Countrywide. Don't savor the thought
of going through the FDIC to get my retirement money...but it still
might happen. Who the hell knows?

FDIC is not a panacea for investing or any sort of risk/reward
arbitrage. Its looks good, but it's only so much per depositor - for
any real money, you'd have to have seperate accounts at seperate banks
which can be a nightmare - in particular if you don't actively manage
the accounts.

And it's only good for $100K per.

Will losses at Bank of America...
 

Short Wave Sportfishing wrote:
On Tue, 22 Jan 2008 11:28:01 -0600, Vic Smith
wrote:

On Tue, 22 Jan 2008 17:12:08 GMT, Short Wave Sportfishing
wrote:

On Tue, 22 Jan 2008 10:06:19 -0600, Vic Smith
wrote:

The money market fund in mine was always a couple points lower than
"free market" rates were offering.
It's all about risk/reward. I'll bet your 401k money market funds
were being put to work in less risky markets.
Probably cost a point just for the fund manager vigorish these
401k's extract. Very little transparency with these funds, and they
can skim as well as any mob casino operator.

That's not true at all. If you drop into a fund which participates in
T-bills or muni, Fed funds or Fed Short Term, that's very transparent
- has to be by it's base function.

Even funds that do commercial paper or chase LIBOR spreads have to be
transparent. I'm not sure what you are talking about with "skimming".

My main complaint as I neared retirement was their was no low-risk
(read FDIC) place for my retirement money. Even money markets can go
negative, or so I was told.

Sure there is - it's called a savings account. Which, when you think
about it, is a money market fund that isn't transparent.

That's why it's insured. :)

But you may be right. After all most of my IRA CD money was tied up
in the mortgage market. Though it's FDIC insured, I was pleased
when BOC picked up Countrywide. Don't savor the thought
of going through the FDIC to get my retirement money...but it still
might happen. Who the hell knows?

FDIC is not a panacea for investing or any sort of risk/reward
arbitrage. Its looks good, but it's only so much per depositor - for
any real money, you'd have to have seperate accounts at seperate banks
which can be a nightmare - in particular if you don't actively manage
the accounts.

And it's only good for $100K per.


Speaking of BOA, my friendly neighborhood BOA "banker" called to let me
know I was "eligible" for a 30-year fixed mortgage at 5-1/8 and "no
closing costs or points," just $350 for an appraisal.

Will losses at Bank of America...
 

"Short Wave Sportfishing" wrote in message
...
On Tue, 22 Jan 2008 11:28:01 -0600, Vic Smith
wrote:

On Tue, 22 Jan 2008 17:12:08 GMT, Short Wave Sportfishing
wrote:

On Tue, 22 Jan 2008 10:06:19 -0600, Vic Smith
wrote:

The money market fund in mine was always a couple points lower than
"free market" rates were offering.

It's all about risk/reward. I'll bet your 401k money market funds
were being put to work in less risky markets.

Probably cost a point just for the fund manager vigorish these
401k's extract. Very little transparency with these funds, and they
can skim as well as any mob casino operator.

That's not true at all. If you drop into a fund which participates in
T-bills or muni, Fed funds or Fed Short Term, that's very transparent
- has to be by it's base function.

Even funds that do commercial paper or chase LIBOR spreads have to be
transparent. I'm not sure what you are talking about with "skimming".


I think he's referring to the fees, which are clearly spelled out in the
prospectus which he did not read. Or, he thinks the managers work for free
out of the goodness of their hearts.



My main complaint as I neared retirement was their was no low-risk
(read FDIC) place for my retirement money. Even money markets can go
negative, or so I was told.

Sure there is - it's called a savings account. Which, when you think
about it, is a money market fund that isn't transparent.


Maybe he was referring to what was available within his 401k plan. Many
don't offer anything resembling a plain vanilla savings account like you'd
find at a bank. A MM fund is as close as they get to that sort of thing.

Will losses at Bank of America...
 

JoeSpareBedroom wrote:
"Short Wave Sportfishing" wrote in message
...
On Tue, 22 Jan 2008 11:28:01 -0600, Vic Smith
wrote:

On Tue, 22 Jan 2008 17:12:08 GMT, Short Wave Sportfishing
wrote:

On Tue, 22 Jan 2008 10:06:19 -0600, Vic Smith
wrote:

The money market fund in mine was always a couple points lower than
"free market" rates were offering.
It's all about risk/reward. I'll bet your 401k money market funds
were being put to work in less risky markets.
Probably cost a point just for the fund manager vigorish these
401k's extract. Very little transparency with these funds, and they
can skim as well as any mob casino operator.
That's not true at all. If you drop into a fund which participates in
T-bills or muni, Fed funds or Fed Short Term, that's very transparent
- has to be by it's base function.

Even funds that do commercial paper or chase LIBOR spreads have to be
transparent. I'm not sure what you are talking about with "skimming".


I think he's referring to the fees, which are clearly spelled out in the
prospectus which he did not read. Or, he thinks the managers work for free
out of the goodness of their hearts.



My main complaint as I neared retirement was their was no low-risk
(read FDIC) place for my retirement money. Even money markets can go
negative, or so I was told.
Sure there is - it's called a savings account. Which, when you think
about it, is a money market fund that isn't transparent.


Maybe he was referring to what was available within his 401k plan. Many
don't offer anything resembling a plain vanilla savings account like you'd
find at a bank. A MM fund is as close as they get to that sort of thing.




Whoops. Forgot this morning that we have some holdings in a private
REIT. The shares don't trade, though.

Will losses at Bank of America...
 

On Tue, 22 Jan 2008 06:38:20 -0800 (PST),
wrote:

On Jan 22, 9:33*am, hk wrote:
wrote:
On Jan 22, 9:28 am, hk wrote:
wrote:
On Tue, 22 Jan 2008 08:50:19 -0500, hk wrote:
IBM is still in business?
They actually opened a couple bucks higher today. It is still about
16-17 bucks off the 52 week high. I am still not sure what they do
these days
Except for two stocks, we got out of the stock market years ago and
don't really pay any attention to it, except to chuckle over its
vagaries and the belief anyone pays to its "integrity."

Well, it is under 12000 now at the open.. Gotta' go shovel ****, I
know that will always be there;)

Sell horsecrap futures...big market.

Maybe on Google, but I don't get my information there;) Out there in
the real world, the production is outdoing the demand, at least in my
neck of the woods.

You have to *go* somewhere to shovel ****? Hell, you're having a discussion
with Harry right here! Why go somewhere?
--
John H

Will losses at Bank of America...
 

On Tue, 22 Jan 2008 19:59:51 GMT, Short Wave Sportfishing
wrote:

On Tue, 22 Jan 2008 11:28:01 -0600, Vic Smith
wrote:

On Tue, 22 Jan 2008 17:12:08 GMT, Short Wave Sportfishing
wrote:

On Tue, 22 Jan 2008 10:06:19 -0600, Vic Smith
wrote:

The money market fund in mine was always a couple points lower than
"free market" rates were offering.

It's all about risk/reward. I'll bet your 401k money market funds
were being put to work in less risky markets.

Probably cost a point just for the fund manager vigorish these
401k's extract. Very little transparency with these funds, and they
can skim as well as any mob casino operator.

That's not true at all. If you drop into a fund which participates in
T-bills or muni, Fed funds or Fed Short Term, that's very transparent
- has to be by it's base function.

Even funds that do commercial paper or chase LIBOR spreads have to be
transparent. I'm not sure what you are talking about with "skimming".

My main complaint as I neared retirement was their was no low-risk
(read FDIC) place for my retirement money. Even money markets can go
negative, or so I was told.

Sure there is - it's called a savings account. Which, when you think
about it, is a money market fund that isn't transparent.

That's why it's insured. :)

But you may be right. After all most of my IRA CD money was tied up
in the mortgage market. Though it's FDIC insured, I was pleased
when BOC picked up Countrywide. Don't savor the thought
of going through the FDIC to get my retirement money...but it still
might happen. Who the hell knows?

FDIC is not a panacea for investing or any sort of risk/reward
arbitrage. Its looks good, but it's only so much per depositor - for
any real money, you'd have to have seperate accounts at seperate banks
which can be a nightmare - in particular if you don't actively manage
the accounts.

And it's only good for $100K per.

Depending on the way they're set up, it's possible to have multiple CDs
totally several hundred thousand in the same institution, all insured.
--
John H

Will losses at Bank of America...
 

On Tue, 22 Jan 2008 12:27:40 -0500, "JimH" wrote:


wrote in message
...
On Jan 22, 8:55 am, "JimH" wrote:
wrote in message

...
On Jan 22, 8:29 am, "JimH" wrote:





"hk" wrote in message

...

Short Wave Sportfishing wrote:
On Tue, 22 Jan 2008 08:03:03 -0500, hk
wrote:

...and Wachovia drive the DOW down a few hundred points today?

Is it the economy, stupid?

Nah - losses have been priced in by now.

It's an odd economy and I think one more like it used to be with more
reasonable lending standards and a more conservative approach to
making money. We've sold our real estate with one more to go and
there wasn't a hang up anywhere - money was available, the buyers had
solid credit and several banks were involved in pricing one loan.

That's a good thing.

On the other hand, Bernacke is completely out of his element here and
it shows. Too many academics on the Fed board and not enough
economists with market experience.

It will be an interesting day.

I'll bet you a fiver that the dow drops below 12000 today. Might not
end
up today below 12000, but it will be there for a while.

Could be.

We met with our financial advisor yesterday afternoon to arrange payoff
of
a
college loan. He had forecast this drop back in fall and positioned his
clients holdings in less aggressive funds.

Even the bond market is stagnant with the largest holding $12 billion in
cash waiting on the sideline to see how this all works out. If the bond
markets start to drop then you know we are in bad times.- Hide quoted
text -

- Show quoted text -

If you'd have started college savings programs for your kids, then you
wouldn't have loans to pay off.
===================
What do you think we are paying it off with dummy?

The loan was 6.5% and my money was making 10%~20% over the past few years.
Do the math if you are able to, which I doubt.- Hide quoted text -

- Show quoted text -

Where the hell were you getting a 20% return?
==============

You really are a moron.


Name calling already?
--
John H

Will losses at Bank of America...
 

On Tue, 22 Jan 2008 12:46:13 -0500, "JimH" wrote:


"JimH" wrote in message
...

wrote in message
...
On Jan 22, 8:55 am, "JimH" wrote:
wrote in message

...
On Jan 22, 8:29 am, "JimH" wrote:





"hk" wrote in message

...

Short Wave Sportfishing wrote:
On Tue, 22 Jan 2008 08:03:03 -0500, hk
wrote:

...and Wachovia drive the DOW down a few hundred points today?

Is it the economy, stupid?

Nah - losses have been priced in by now.

It's an odd economy and I think one more like it used to be with
more
reasonable lending standards and a more conservative approach to
making money. We've sold our real estate with one more to go and
there wasn't a hang up anywhere - money was available, the buyers
had
solid credit and several banks were involved in pricing one loan.

That's a good thing.

On the other hand, Bernacke is completely out of his element here
and
it shows. Too many academics on the Fed board and not enough
economists with market experience.

It will be an interesting day.

I'll bet you a fiver that the dow drops below 12000 today. Might not
end
up today below 12000, but it will be there for a while.

Could be.

We met with our financial advisor yesterday afternoon to arrange payoff
of
a
college loan. He had forecast this drop back in fall and positioned his
clients holdings in less aggressive funds.

Even the bond market is stagnant with the largest holding $12 billion
in
cash waiting on the sideline to see how this all works out. If the bond
markets start to drop then you know we are in bad times.- Hide quoted
text -

- Show quoted text -

If you'd have started college savings programs for your kids, then you
wouldn't have loans to pay off.
===================
What do you think we are paying it off with dummy?

The loan was 6.5% and my money was making 10%~20% over the past few
years.
Do the math if you are able to, which I doubt.- Hide quoted text -

- Show quoted text -

Where the hell were you getting a 20% return?
==============

You really are a moron.


Sorry Scott, I thought that comment was Boogers. My apologies as I think
more highly of you than that.

We have had an investment advisor for years and our investments are fairly
diversified. I believe we hit 20% in 2006 when the markets were rallying.



Reading comprehension?
--
John H