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?

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?

Of course not in CDs. But not really hard to do in the stock market, prior
to last the last quarter.

wrote:
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 gotta have you finance guy putting you in the right funds.

"BAR" wrote in message
. ..
wrote:


Where the hell were you getting a 20% return?

You gotta have you finance guy putting you in the right funds.


I'll tell you, I have to give you guys credit for having the balls to let a
"finance" guy manage your money and/or investments for retirement.

Maybe I could have made more, maybe not, but I like using common sense and
doing it myself rather than rely on some person who makes a living using
your money. Nope. No way.

Eisboch (with due apologies to all those CPA's/CFP's out there)

Eisboch wrote:
"BAR" wrote in message
. ..
wrote:

Where the hell were you getting a 20% return?
You gotta have you finance guy putting you in the right funds.


I'll tell you, I have to give you guys credit for having the balls to let a
"finance" guy manage your money and/or investments for retirement.

Maybe I could have made more, maybe not, but I like using common sense and
doing it myself rather than rely on some person who makes a living using
your money. Nope. No way.

Eisboch (with due apologies to all those CPA's/CFP's out there)




He makes his money selling you investments with a high profit margin for
himself.

"Reginald P. Smithers III" "Reggie is Here wrote in message
. ..
Eisboch wrote:
"BAR" wrote in message
. ..
wrote:

Where the hell were you getting a 20% return?
You gotta have you finance guy putting you in the right funds.


I'll tell you, I have to give you guys credit for having the balls to let
a "finance" guy manage your money and/or investments for retirement.

Maybe I could have made more, maybe not, but I like using common sense
and doing it myself rather than rely on some person who makes a living
using your money. Nope. No way.

Eisboch (with due apologies to all those CPA's/CFP's out there)




He makes his money selling you investments with a high profit margin for
himself.

Depends. You do not want a financial planner who makes money on the trades.
You want one who takes a percentage of total portfolio. He has a large
incentive to grow that portfolio. As to using a CFP, I am thinking about
it, as it seems as I age, I have less desire to do the tracking required for
investing.
we are traveling a lot these days.

"Eisboch" wrote in message
...

"BAR" wrote in message
. ..
wrote:


Where the hell were you getting a 20% return?

You gotta have you finance guy putting you in the right funds.


I'll tell you, I have to give you guys credit for having the balls to let
a "finance" guy manage your money and/or investments for retirement.

Maybe I could have made more, maybe not, but I like using common sense and
doing it myself rather than rely on some person who makes a living using
your money. Nope. No way.

Eisboch (with due apologies to all those CPA's/CFP's out there)

That's been my style and I'm very satisfied with the results.

Eisboch wrote:
"BAR" wrote in message
. ..
wrote:

Where the hell were you getting a 20% return?
You gotta have you finance guy putting you in the right funds.


I'll tell you, I have to give you guys credit for having the balls to let a
"finance" guy manage your money and/or investments for retirement.

Maybe I could have made more, maybe not, but I like using common sense and
doing it myself rather than rely on some person who makes a living using
your money. Nope. No way.

You have to know your own limitations and investing isn't one of my
areas of interest. I would rather go out and do stuff than sit around
and figure out where to invest my money. I am good at earning it but not
investing it. Besides I have a family member with a Series 7, working in
the personal finance area, who checks over everything.

Eisboch (with due apologies to all those CPA's/CFP's out there)

"BAR" wrote in message
. ..
Eisboch wrote:
"BAR" wrote in message
. ..
wrote:

Where the hell were you getting a 20% return?
You gotta have you finance guy putting you in the right funds.


I'll tell you, I have to give you guys credit for having the balls to let
a "finance" guy manage your money and/or investments for retirement.

Maybe I could have made more, maybe not, but I like using common sense
and doing it myself rather than rely on some person who makes a living
using your money. Nope. No way.

You have to know your own limitations and investing isn't one of my areas
of interest. I would rather go out and do stuff than sit around and figure
out where to invest my money. I am good at earning it but not investing
it. Besides I have a family member with a Series 7, working in the
personal finance area, who checks over everything.



Other than "just checking", you should avoid following any "buy this/sell
that" advice from that financial person in the family. It's just a bad idea.
It's inevitable that something goes bad eventually, and you don't want to be
looking at each other funny at family gatherings.

I used to work for one of the major brokerage firms. While we were studying
for our exams, we were also gathering names of tentative clients, and the
manager was reviewing them very closely. He told us to NEVER do business
with family members unless it involved products so safe that they were a
total snore. On October 19th, 1987, as he and the older brokers were
panicking & sweating, he stopped by my desk to say "Just got a call. You
passed your series 7, and if you thought I was wrong about doing business
with family, today should eliminate those questions."

When a family member gave us a chunk of money for our newborn son's college
fund, the manager suggested that he talk to my wife about what bad returns
could do to our dinner conversations. That was a good idea. She needed a
second voice to adjust her expectations. Fortunately, the worst I did while
managing his money was a couple of investments that were a little boring.
Any other family members I worked with were limited to stuff like AAA rated
insured munis, fed paper, or A+ or better corporate bonds.

The endless baked ziti and warm Genny beer still made family gatherings a
trying experience, but at least there were no financial arguments.