McDuck's Account Talk

[McDuck]

http://www2.oanow.com/oan/news/loca...point_toward_pact_funds_positive_flow/103596/

October 26, 2009

Last year’s worldwide economic collapse was the worst in 80 years. Few, if any, sectors of our economy were spared. In just over a year, $11 trillion of value disappeared from U.S. financial markets.

As RSA Chairman David Bronner, the man in charge of pension investments for Alabama’s teachers and state employees, recently observed, “When we had a recession like the ones we had before when the tech bubble blew up, we burned our fingers. Right now, insurance companies are the weakest they have ever been in my lifetime. Big banks are the weakest they have ever been in my lifetime. The pension funds got an arm and leg blown off this time.”

 

[McDuck]

http://www.bloomberg.com/apps/news?pid=20601087&sid=ac1KaPxa0Bsohttp://www.bloomberg.com/apps/news?pid=20601087&sid=ac1KaPxa0Bso
Smithers: S&P Overvalued by 40%, Set to Fall
Oct. 26

 

[McDuck]

October 26, 2009 S&P Overvalued by 40%, Set to Fall

 

[McDuck]

Volatility Alert: Fear Soars as Stocks Lose Ground on Economic Worries
Optionetics - ‎1 hour ago‎

Jittery Companies Stash Cash
Wall Street Journal - ‎1 hour ago‎

Bull run 'out of puff' claims Brewin Dolphin
FT Adviser - 1 hour ago‎

Asian Stocks Fall on US Consumer Report, CIT; Sony Declines
Bloomberg - ‎1 hour ago‎

UPDATE 1-Wall St Week Ahead: Goodbye to all that stimulus?
Reuters - ‎2 hours ago‎

Wall St Week Ahead: Goodbye to all that stimulus?
Reuters - ‎2 hours ago‎

Wall Street's broken rally
CNNMoney.com - ‎4 hours ago‎

Nailed the Stock Market Top? Probably
The Market Oracle - ‎9 hours ago‎

Are ETF Trendline Changes on the Way?
Seeking Alpha - ‎13 hours ago‎

 

[Buster]

How's your Dad doing...?..I pray that he's better.

 

[McDuck]

How's your Dad doing...?..I pray that he's better.

Thanks for asking. He has had 2 chemo treatments (5 days each), with 2 weeks since the last one. He had a CT scan last week and goes to the doctor tomorrow to see if/how the chemo is working. I would appreciate any prayers for him.

He will be 78 on Saturday, has been fully retired for 16 years and seen his only grandchild graduate college.

 

[McDuck]

05 NOV 2009

ppo(20,50,1)
$spx 1.27
$dws 0.45
efa 1.46

ppo(10,40,1)
$spx 0.32
$dws -1.54
efa 0.24

 

[McDuck]

11/5/2009
News articles highlighted on Peter Schiff's website

Senate Renews, Expands Homebuyer Tax Credit
- Washington Post

Junk Default Rate Highest Since Great Depression
- Bloomberg

US to Impose Record Tariffs on Chinese Oil Pipes
- CNBC

FHA: The Next Big Bailout?
- Fox Business

30-Yr Mortgage Rates Drop Below 5%
- CNBC

Fannie Mae Trading Deeds for Leases
- CNN Money

CA to Withhold Bigger Chunk of Paychecks
- LA Times

Recession to Hurt Young People for Years to Come
- Chicago Tribune

 

[McDuck]

Boomers in Denial About Retirement Savings
CNBC - ‎21 minutes ago‎

“There is a sense of denial among the pre-retirees,” said Lynne Ford, head of Wells Fargo Retail Retirement.

Even after suffering significant losses last year, many remain overly optimistic about their investment returns and the ability of their savings to fund their expenses after they stop working.


Only 23 percent of pre-retirees are saving more for their retirement than they were a year ago, the survey found. Most, some 57 percent, are saving the same amount, and 20 percent are saving less.

Perhaps even more startling is the extent to which their savings are falling short of their goals. On average, these pre-retirees expected they would need $800,000 to fund their retirement. However, most had only saved about $300,000.
...
Among the biggest mistakes people are making is over-estimating their investment returns and the amount of money that can safely be withdrawn each year in retirement.

In the survey, both those who were about to retire and those who already had said they expected their savings to grow by 8.7 percent each year, on average. However, the compound annual growth rate of the S&P 500 from 1958 through 2008 was only 6.6 percent.

 

[KevinD]

Thats what I hate about those "Monte Carlo" retirement savings calculators. How can anybody know what kind of returns to expect in retirement. And most have a place to guess at the inflation rate too. How can anybody even guess at these rates?

 

[McDuck]

Economic good news is a little hard to find
November 8, 2009
http://www.montgomeryadvertiser.com...7/Economic-good-news-is-a-little-hard-to-find

 

[mojo]

Here's some good news "Goldman Sachs is just doing Gods work".

http://www.dailymail.co.uk/news/art...s-Gods-work-defends-banks-bumper-profits.html

 

[Gumby]

Here's some good news "Goldman Sachs is just doing Gods work".

http://www.dailymail.co.uk/news/art...s-Gods-work-defends-banks-bumper-profits.html

GOD's work does pay well :nuts:

 

[James48843]

He said modern banking performed a vital function and described himself as just a banker 'doing God's work'.


God's work?

And Jesus said to His disciples, "Truly I say to you, it is hard for a rich man to enter the kingdom of heaven.

"Again I say to you, (B)it is easier for a camel to go through the eye of a needle, than for a rich man to enter the kingdom of God."

 

[McDuck]

News articles highlighted on Peter Schiff's website 11/09/2009:

Gold Climbs to Another Record on Weaker Dollar
- Bloomberg

Obama Confronts an Asia Reshaped by China's Rise
- Washington Post

IMF Signals Low US Rates Funding ‘Carry Trade’
- Bloomberg

Federal Reserve Opposed by Odd Allies
- Washington Times

Economists Seek to Fix Inflated GDP Reporting
- NY Times

Which US Industry Is Booming? Lobbying in DC
- Omaha World-Herald

Suicides Raise Worry of Recession's Real Cost
- MSNBC

Default Notices Rising in Upper Echelon ZIPs
- SF Chronicle

Recession Strains Food Pantries
- South Coast Today

 

[McDuck]

Milkman jailed for life after drunken killing
‎Nov 6, 2009‎

 

[McDuck]

Re: Birchtree's account talk

Who the hell do those Frenchmen think they are talking about our President

Not all Chinese Web users like Obama
The Observers - ‎7 hours ago‎

 

[McDuck]

11/17/2009
Tide May Be Changing at Port of LA
LA Times

 

[McDuck]

Stocks may sputter with Black Friday eyed
Reuters - ‎Sun Nov 22, 2009 6:41pm EST

It will be difficult for the economic recovery to make much headway without a pick-up in consumer spending as it accounts for two-thirds of the economy.
...
The Dow and S&P 500 made 13-month highs last week before easing, and recent sessions suggest the market is struggling to justify more gains.

For the week, the Dow rose 0.5 percent, the S&P 500 slipped 0.2 percent and the Nasdaq shed 1 percent. The S&P failed to hold above the key 1,100 level and will continue to face resistance there.
...
Third-quarter preliminary gross domestic product is expected to come in at 2.9 percent, revised down from an advance reading of 3.5 percent last month, according to Reuters data. Analysts have been scaling back expectations for economic growth after data last week showed a larger-than-expected trade deficit.


Weekly initial claims for jobless benefits will be released on Wednesday, a day earlier than usual. Analysts expect first time claims to dip slightly to 500,000.

 

[McDuck]