nasa1974's Account Talk

[nasa1974]

Nasa, L2R is right on the money here as always. The government RFPs I work with are in a very specialized subgroup, but a "quick" contracting action can take about three years from concept to contract award, on what is generally a ten year contract. Our contracts can be extended for a bit in certain special circumstances and there is a legal limit of two years to contract extensions.

But the TSP contract could be something entirely different. I'm not familiar with it at all.

Lady

Lady, I currently work out of the construction branch. We have onsite contractors that do work for us. We have a standard 10 year contract with 5 years guaranteed and the last five are options. I can't believe that the TSP contract would be special. Maybe something to look into???

May the force be with us.

 

[nasa1974]

Made a minor adjustment this morning. 84%G, 6%C, 10%S


May the force be with us.

 

[nasa1974]

I will try to find some time this weekend to post some information about the FRTIB. Those of us on this MB are truely the minority.

 

[nasa1974]

Hello All, WOW!! It has been a few days since I posted. Been busy at home and work. Also reading up on the FRTIB. Anyway below are links to various sites of the FRTIB. I will give a brief discription (and maybe a short explaination) of the site but will refrain from long comments. This will happen as time goes on. OK here we go. Get ready for an interesting ride. Some of these sites are long and take s a couple of readings to understand. Some of you may or may not have read this information.

Barclay's contract was renewed in 2006. This is the site of the press release: http://www.tsp.gov/curinfo/pressrel/2006sep6barclaysvendor.html

It is a three year contract with two one year options (found on page 10). This is the site of the contract. XL-entLady this should be interesting for you. http://www.frtib.gov/pdf/procure/TIB-2006-R-003-solicitation.pdf

The FRTIB is also solicitating for someone to perform a survey. Did you know that one was taken in 2007? Bet none of us get to participatein this years. Last years survey can be found here as well as much more information.
http://www.frtib.gov/FOIA/index.html

This is the site for the board meeting minutes. Some of this is really interesting. http://www.frtib.gov/FOIA/minutes.html

Below is part of the explaination of the final ruling found on page four.

"On August 16, almost half of the dollar amount of the trade was from participants who were requesting frequent IFTs. The Agency knows from its analysis that a large number of the participants who make frequent interfund transfers were moving $250,000 or more. Each participant who redeemed $250,000 on that day would have sold 11,121 shares, and therefore would have made an extra $4,782. (11,121 shares sold multiplied by $0.43 per share trading cost.) These ‘‘extra’’ funds did not come from the market. Rather, they came from the accounts of other participants who remained in the I Fund. When examined this way, it becomes clear why frequent IFTers

would prefer to express this cost as an annual average spread over all participants.
Additionally, because the investment manager​

​

’s liquidity pool had been depleted on August 16, $452 million of that trade settled on August 21 instead of August 17. That cost the G Fund $235,000 in foregone interest."

Here is the link: http://www.frtib.gov/pdf/FOIA/TSP-Regs_IFT-Final_2008May1.pdf

I have more to post but I need a break. This is giving me a headache.


May the force be with us.​

 

[XL-entLady]

It is a three year contract with two one year options (found on page 10). This is the site of the contract. XL-entLady this should be interesting for you.

You're right, nasa, it will be! Thanks for giving me the heads-up that it was posted here! And gold star for the sleuthing job!

Lady

 

[luv2read]

Additionally, because the investment manager’s liquidity pool had been depleted on August 16, $452 million of that trade settled on August 21 instead of August 17. That cost the G Fund $235,000 in foregone interest."

Here is the link: http://www.frtib.gov/pdf/FOIA/TSP-Regs_IFT-Final_2008May1.pdf​

THAT is the reason for the IFT limits. Further reading on the TSP site shows that Barclays is required to maintain liquidity to cover shareholders activities, however, the pool was heavily invested in BSC hedge funds that failed in June. That is NOT maintaining liquidity, that's speculating, and it's also a contract violation. Barclays was most likely counting on the contributions and Fed rate cuts to make up the difference; when it didn't happen and they had to take the big writedown instead, then there was that big I Fund spike in October-November 2007, they screamed at FRTIB to DO SOMETHING!! Of course I can't prove that's exactly what happened, but something of that order certainly did.

 

[nasa1974]

L2R, Makes you wonder what is really going on with Barclays??? In 2006 they have over a trillion dollars and get the TSP contract renewed, they have a hard time covering trading in mid to late 2007 and in 2008 they ask for billions to stay afloat. What is also interesting is the attachments in the FRTIB July 2008 minutes.


May the force be with us.

 

[FogSailing]

Whoa...I must be reading that wrong Nasa. ..Is it saying that because they depleted their liquidity pool, that TSP'ers are paying for their mistake by not receiving our due interest on the G Fund? Tell me it isn't so...Better yet, if it is call the IG..better yet, the Washington Post...

FS

 

[luv2read]

Whoa...I must be reading that wrong Nasa. ..Is it saying that because they depleted their liquidity pool, that TSP'ers are paying for their mistake by not receiving our due interest on the G Fund? Tell me it isn't so...Better yet, if it is call the IG..better yet, the Washington Post...

FS

no no...because they depleted the liquidity pool they figured out how to do a smoke and mirrors act making it look like I/G round trip IFTs was the problem...and got FRTIB to limit IFTs. This isn't about interest on the G fund. Treasury hits that one up all the time.

 

[nasa1974]

L2R, Here is the link to the boards meeting minutes. http://www.frtib.gov/FOIA/minutes.html I have just started to read them. This will take some time. Anyway, the attachments in the July 2008 minutes does shed some light on Barclays. I haven't had time to really try to digest all the numbers.
The other thing ( I have brought this up before) We had years of the opportunity to trade daily. The FRTIB did nothing so it must have been working fine for those years. Now late 2007 there is some large trading, Barclays has a liquidity problem and BANG it is the daily trading that is causing the problems. The minority that had taken advantage of this are used as the scapegoats and now we are restricted to 2 IFT's a month. Now we are being told that the FRTIB did us a favor giving us 2 when everybody else out there have more restrictions on trading. WOW! We should be thanking them.


May the force be with us.

 

[FogSailing]

Can we thank them by replacing each and every one of them...I can't wait for the opportunity...as far as I'm concerned their actions were a major abuse of truth..spinning a story to protect themselves by blaming others..Come on KARMA...

FS

 

[luv2read]

If you want them replaced better hope GOP gets tossed out. They're appointed, not elected.

NASA I'll take another look at the minutes. I've seen all the data before but it never hurts to see what else can be gleaned.

And James is working on the data. I knew he had posted something weeks ago but couldn't find it...be patient young grasshopper the master shall reveal the truth...

Costs have skyrocketed through the roof.

I posted some data in another thread, somewhere, but will have to look for it to see where I put it.

Two months they were much, much higher, and the third month it was down a bit. I'll have to go look through the minutes, compile all the data, and give a report. I was waiting until we had a few months worth of data- to compare month-over-month- to show exactly how costs have increased because of their limits.

Its on my to-do list- perhaps over labor day weekend.

Yes- costs have skyrocketed since the limits kicked in.

I have to put together some charts from the data in the minutes. Perhaps I can get to it over Labor Day weekend....

 

[airlift]

Throw them out!!!

 

[nasa1974]

Wow!! What a month. Talk about luck!! Tracker #26 1.21% since 7/3. Mostly luck and guts, not skill. Let's hope September treats us better than August. Would like to see 3-4% profit for the year.:worried:


May the force be with us.

 

[Guest2]

Wow!! What a month. Talk about luck!! Tracker #26 1.21% since 7/3. Mostly luck and guts, not skill. Let's hope September treats us better than August. Would like to see 3-4% profit for the year. May the force be with us.

Don't "Short Sell" yourself ! +1.21% MTD wasn't easy to achieve when you
look at all the wrong decisions you could have made ! You have 4 months
before your YTD goal comes to an end. Even if you put all your money in
the (G) Fund until December 31st, 2008 - You'd gain approximately 1.3%
more then what you have now. That would give you about a +2.51% ytd.
Something tells me you won't be happy doing that and you'll end up in with
better returns as a result.

 

[nasa1974]

Don't "Short Sell" yourself ! +1.21% MTD wasn't easy to achieve when you
look at all the wrong decisions you could have made ! You have 4 months
before your YTD goal comes to an end. Even if you put all your money in
the (G) Fund until December 31st, 2008 - You'd gain approximately 1.3%
more then what you have now. That would give you about a +2.51% ytd.
Something tells me you won't be happy doing that and you'll end up in with
better returns as a result.

Master, Darth-Bear is grateful for your wisdom and guidance.:nuts:

May the force be with us.

 

[Guest2]

Master, Darth-Bear is grateful for your wisdom and guidance.:nuts:

May the force be with us.

I jumped in today, It better not be the Dark Side of the Force. :blink:

 

[nasa1974]

I jumped in today, It better not be the Dark Side of the Force. :blink:

Sorry master but I feel a disturbance in the force.:worried: I almost played a hunch on Friday to jump into C and S. It feels like today and tomorrow will have good numbers. But the players are back and looking to balance things out. My gut is telling me Thursday and/or Friday will not be good days. Next week, depending on the hurricane tracks, may be a better jumping in point. Sorry master!!!


May the force be with us.

 

[Guest2]

Sorry master but I feel a disturbance in the force. I almost played a hunch on Friday to jump into C and S. It feels like today and tomorrow will have good numbers. But the players are back and looking to balance things out. My gut is telling me Thursday and/or Friday will not be good days. Next week, depending on the hurricane tracks, may be a better jumping in point. Sorry master!!! May the force be with us.

Its merely a tremor my x-apprentice. You would be wise to stop saying your sorry
so often. The Dark Side is using this weakness and thats why you became Darth-Bear
to begin with. :laugh: Come back to the Good Side of the Force and we can rule the FRTIB
together as father and son! You being the father, of coarse. :laugh:

 

[nasa1974]

Its merely a tremor my x-apprentice. You would be wise to stop saying your sorry
so often. The Dark Side is using this weakness and thats why you became Darth-Bear
to begin with. :laugh: Come back to the Good Side of the Force and we can rule the FRTIB
together as father and son! You being the father, of coarse. :laugh:

LOL Now we have to figure out who is older???

May the force be with us.