NSurf9 Account Talk

[nsurf9]

HR1108 Reporting requirements? The TSP Board was allowed to impose the IFT rule without even a ball park estimate of what the costs would have been for and a IFT. Miles (TSP) was quoted that, TSP members would probably not like the actual costs as being, as I recall, ~ $100, $200, and maybe even $500. They never addressed what actual costs is and no one could (even the funds equitable owners) can even demand them to find it.

FLATLY, STATED, THE TSP BOARD HAS COST IT MEMBERS BILLIONS OF DOLLARS IN LOSSES AND PREEMPTED THEM FROM BILLIONS OF DOLLARS IN PROFITS. But, they met their scewed mandate and save perhaps a few million in costs that anyone on this site would have gladly and reasonably paid. That means it would have cost the TSP fund nothing.

I find what they said, on first blush, as highly suspect - - everybody and their Schwab brother is at ~$10 a trade.

 

[nsurf9]

The part on have cost members profits is only just beginning.

 

[luv2read]

HR1108 includes reporting requirements....

If this passes and is signed cost reporting will be MANDATORY and we will at last know...something.:nuts::notrust:

 

[Gumby]

HR1108 Reporting requirements? The TSP Board was allowed to impose the IFT rule without even a ball park estimate of what the costs would have been for and a IFT. Miles (TSP) was quoted that, TSP members would probably not like the actual costs as being, as I recall, ~ $100, $200, and maybe even $500. They never addressed what actual costs is and no one could (even the funds equitable owners) can even demand them to find it.

FLATLY, STATED, THE TSP BOARD HAS COST IT MEMBERS BILLIONS OF DOLLARS IN LOSSES AND PREEMPTED THEM FROM BILLIONS OF DOLLARS IN PROFITS. But, they met their scewed mandate and save perhaps a few million in costs that anyone on this site would have gladly and reasonably paid. That means it would have cost the TSP fund nothing.

I find what they said, on first blush, as highly suspect - - everybody and their Schwab brother is at ~$10 a trade.

My friend, you are so correct. There is so much more to this story that we will never find out.
I always thought they could have made a minimum charge for an IFT. After all, they did a minimum charge to process a loan. No doubt it could have been done for an IFT. We have been betrayed by those that were supposed to looking out for our interests. This year, with all the market volitility, has been a real killer to accounts with equity exposure.
It appears they were trying to force "buy and hold" on us or promote the use of the "L" funds.

 

[luv2read]

My friend, you are so correct. There is so much more to this story that we will never find out.
I always thought they could have made a minimum charge for an IFT. After all, they did a minimum charge to process a loan. No doubt it could have been done for an IFT. We have been betrayed by those that were supposed to looking out for our interests. This year, with all the market volitility, has been a real killer to accounts with equity exposure.
It appears they were trying to force "buy and hold" on us or promote the use of the "L" funds.

IMO those were secondary objectives. The main objective was to help BGI, which got caught short on liquidity and I funders were blamed.

 

[nsurf9]

The Rally Monkey told me that a little bird told him that she didn't see anything in the markets way all week, except a little profit taking ... and on the outside, Israel bombing of Iran.

 

[luv2read]

Nobody told the P&F Chart...

 

[Birchtree]

Now is an excellent time interval for Israel to bomb the Allah out of Iran while the possum butts are distracted. The Russians are busy trying to destroy Georgia and I sincerely hope there is a counter attack with the help of some of our superior technological armaments. They are trying to establish a fear scenario to keep the other satellites in line. No freedom of self determination for the future will be allowed - I seriously don't think the other freedom loving Soviet territories will stand by ignorant and let this come to fruition. Poland and Ukraine come to mind.

 

[Gumby]

IMO those were secondary objectives. The main objective was to help BGI, which got caught short on liquidity and I funders were blamed.

Luv,

Do you mean BCS? I am not familiar with BGI.

I agree that BCS did play a major role in the IFT limits.

 

[nsurf9]

L2R, little bird said to Rally Monkey, he figures its not nice to point.

Birch, I'd settle for bombing the nuclear out of them.

 

[luv2read]

Luv,

Do you mean BCS? I am not familiar with BGI.

I agree that BCS did play a major role in the IFT limits.

BGI is Barclays Global Investments, the BSC subsidiary that "manages" our TSP.

 

[Gumby]

BGI is Barclays Global Investments, the BSC subsidiary that "manages" our TSP.

I didn't realize they had a subsidiary set up just for the TSP. Hard to believe our government turns over billions to a foreign investment firm for management. Makes a person wonder what would have happened if Bear-Stern was managing our TSP back in March. Would the FED bail out the TSP? What happens if Barclays bellies up?

 

[Corepuncher]

Just as it was very painful for me to buy stocks on July 14th (1 day from "the low"), it is also a bit painful to sell stocks into the euphoria. I've maintained 1320 on the S&P and to that I will stick until I believe otherwise.

Buy and sell points are different for different people depending upon your time horizon and entry/exit points. For some people, they do not trade the market at all. My comments are geared toward those who actively trade their TSP accounts.

Fed survey just came out, huge increase of the % of banks that have tightened credit and home loan standards. Market whinced a bit at 1:00 PM CDT...although I predict it will be forgotten in the sea of euphoria by days end.

What will the market do when oil bounces 5 bucks in a day?

Still have 55% S, small caps have been kicking ass. Will incrementally lighten up over the next couple weeks if we continue up (and of course...this is in order to buy at a lower price later...). After today I'll be about 9% YTD, I can't get too greedy.

 

[luv2read]

I didn't realize they had a subsidiary set up just for the TSP. Hard to believe our government turns over billions to a foreign investment firm for management. Makes a person wonder what would have happened if Bear-Stern was managing our TSP back in March. Would the FED bail out the TSP? What happens if Barclays bellies up?

It's not set up just for TSP. TSP is only one of the funds BGI manages. Information about the BGI "collateral" is on TSP website (and in many threads here, check the two TSP ones especially), and this was questioned during one of the hearings. I don't remember exactly but I think it's 3x the risk ...but 3x zero is still zero if it's worthless junk.

 

[Steadygain]

What happens if Barclays bellies up?

I'm sorry I don't have a link for this as I read it last week.

Barclays was down 37% - that's the figure that stands out in my memory - but you need to bear in mind that companies that deal with Billions (if not Trillions) of dollars are unlike your typical company. It's a mere reflection that Barclays is part of the Financial Sector - and therefore will take a hit when the Sector is hit.

Aside from a global economic collapse Barclays is far from going under.

 

[nsurf9]

Its more that Barclays is a not a US company. Sort-of like a UAE firm managing US sea-ports. Ok, not quite, but, they're not a US company. And, something in the transactions with the TSP Board / management has straight-jacketted IFT for us. For that, I'll take a couple swings at them for general purposes.

The hand of cupability rest solely with the TSP Board. They can certainly fire Barclay and get a US firm.

Moreoever, the TSP Board hasn't come clean with the details of costs; flagged waived on "excessive trades;" summoned up ringer experts; and its costing us a hell-of-lot-a money. And not just now, but on what we could compound upon in the future.

I still believe a temporary emergency injunction would issue, I wish I had the where-with-all to pursue it.

 

[nsurf9]

The 2% drop in the I fund, on top of yesterday's .8% drop, is beginning to make me salivate. Mr. Boom already bit down on it. Further, its awfully depressed, in the last ~2weeks, it down 1.81%. Today, if oil drops below below "oh yea" could be a very quick gleeming gem.

Any thoughts?

 

[luv2read]

The 2% drop in the I fund, on top of yesterday's .8% drop, is beginning to make me salivate. Mr. Boom already bit down on it. Further, its awfully depressed, in the last ~2weeks, it down 1.81%. Today, if oil drops below below "oh yea" could be a very quick gleeming gem.

Any thoughts?

It could be; however, the overseas economy is just starting to feel what we did in Q1 and Q2. If it continues to slow down, the I fund will lag C, S and F. But, their central banks have room to cut rates if needed, which the OSM's will like. If it looks like the dollar will continue to gain against the Euro and their economy to slow down, they might stop supporting the dollar by holding rates steady and do a small hike. JMO.

http://www.tsptalk.com/mb/showpost.php?p=175601&postcount=148

For a start we believe that investors should give serious consideration to reducing bond exposure (yields are either anticipating a serious deterioration in the global macro-economic environment, or they indicate that bonds are very expensive) and buying US equities over their European counterparts.

 

[Guest2]

The 2% drop in the I fund, on top of yesterday's .8% drop, is beginning to make me salivate. Mr. Boom already bit down on it. Further, its awfully depressed, in the last ~2weeks, it down 1.81%. Today, if oil drops below below "oh yea" could be a very quick gleeming gem.

Any thoughts?

I don't believe the Fund Managers will payoff to much of their debt
with a severe down day in their faces. They might even add to the
debt to higher levels. As you've read in my O/D summary, the (I) fund
may not bounce up as you would like to see due to various reasons.
I'm not very comfortable with the (I) Fund in this kind of environment. :worried:

 

[nsurf9]

SQ, L2R: Thanks for update on considerations, mirrored mine. I just hope TSP calls in some of the debt today. The I fund losses will probably stay about where they are now. Oil will drop some more, in my opionion. The bounce potential is there, but lately it has been muted with Japan's emerging banking and the world's general slow down. But, with EAFE countries' small change in monitary policy and further drop in oil may be just the trick to get to September.

I know, even a great deal on a bad product, is still a bad deal.