Entire Housing Recovery Is Built on Sand - Randall Forsyth, Barron's
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OBGibby's Account Talk
- Thread starter OBGibby
- Start date
The Eagle, Ben Franklin, and the Turkey
Franklin’s Letter to His Daughter (excerpt)
“For my own part I wish the Bald Eagle had not been chosen the Representative of our Country. He is a Bird of bad moral Character. He does not get his Living honestly. You may have seen him perched on some dead Tree near the River, where, too lazy to fish for himself, he watches the Labour of the Fishing Hawk; and when that diligent Bird has at length taken a Fish, and is bearing it to his Nest for the Support of his Mate and young Ones, the Bald Eagle pursues him and takes it from him.
“With all this Injustice, he is never in good Case but like those among Men who live by Sharping & Robbing he is generally poor and often very lousy. Besides he is a rank Coward: The little King Bird not bigger than a Sparrow attacks him boldly and drives him out of the District. He is therefore by no means a proper Emblem for the brave and honest Cincinnati of America who have driven all the King birds from our Country . . .
“I am on this account not displeased that the Figure is not known as a Bald Eagle, but looks more like a Turkey. For the Truth the Turkey is in Comparison a much more respectable Bird, and withal a true original Native of America . . . He is besides, though a little vain & silly, a Bird of Courage, and would not hesitate to attack a Grenadier of the British Guards who should presume to invade his Farm Yard with a red Coat on.”
Don't Be a Sucker, Take Your Stock-Market Gains - Robert Lenzner, Forbes
Birchtree
TSP Talk Royalty
- Reaction score
- 143
I managed to sell $192K worth of stock a few weeks back and locked a $57K profit for tax purposes. I'm now putting it all back to work in the market. This from the WSJ: "The economic rebound may have some oomph. The index of leading economic indicators rose 0.3% in October from September. The composite of 10 economic and financial measures, ranging from the length of the average factory work week to stock prices, has risen for seven months and now stands 6% above its March level. The last time it showed such strength was as the economy was rapidly coming out of the deep 1982 recession."
Ex-UBS Banker Seeks Billions for Blowing Whistle
By LYNNLEY BROWNING
Bradley C. Birkenfeld, who helped American clients illegally evade taxes and then helped the United States government find them, could reap a giant reward. (The New York Times)
By LYNNLEY BROWNING
Bradley C. Birkenfeld, who helped American clients illegally evade taxes and then helped the United States government find them, could reap a giant reward. (The New York Times)
U.S. Unlikely to Use the Ethanol Congress Ordered
By MATTHEW L. WALD
When Congress mandated refiners blend more ethanol into gas, demand was growing. Then the recession hit. (The New York Times)
By MATTHEW L. WALD
When Congress mandated refiners blend more ethanol into gas, demand was growing. Then the recession hit. (The New York Times)
According to my tsp.gov online account, my 'Personal Investment Performance' (PIP) for the twelve months ending November 30, 2009, was up 31.51%.
Previous 12 Months Ending:
May 31, 2009 -27.15%
Jun 30, 2009 -21.34%
Jul 30, 2009 -12.23%
Aug 31, 2009 -8.27%
Sep 30, 2009 +4.27%
Oct 31, 2009 +18.69%
Nov 30, 2009 +31.51%
Previous 12 Months Ending:
May 31, 2009 -27.15%
Jun 30, 2009 -21.34%
Jul 30, 2009 -12.23%
Aug 31, 2009 -8.27%
Sep 30, 2009 +4.27%
Oct 31, 2009 +18.69%
Nov 30, 2009 +31.51%
According to the most recent TSP Board meeting minutes the TSP has approximately $234 billion under management, with 4.2 million plan participants. Assuming I didn't lose track going back and forth between my toes and my fingers, that averages out to about $55,000 per account. I was wondering how TSPTalkers compare to that average of $55K. I posted a poll at the top of the thread in the hope that my curiosity would be satisfied.
Gumby
TSP Pro
- Reaction score
- 23
You have had a banner year!
Thanks, Gumby! Looking forward to the final PIP of 2009 (hopefully over the weekend).
Just been sticking to the old B&H. I've got plenty of time on my side, and not nearly confident enough to try to time the market. If they ever get the Roth TSP rolled out I may try a more active strategy, but not with the regular account.
PessOptimist
Market Veteran
- Reaction score
- 67
Poll question
Who will have access to how members voted? I might not object to TSPTalk members knowing but would object to the whole world knowing.
My reason for asking is that somewhere in a thread I recall someone posting how other members had voted in a poll.
Who will have access to how members voted? I might not object to TSPTalk members knowing but would object to the whole world knowing.
My reason for asking is that somewhere in a thread I recall someone posting how other members had voted in a poll.
Re: Poll question
The poll only records unidentifiable votes. I did not choose the version of the poll that shows how who made which particular vote...I'm only curious about the average balance - though, 14 votes so far is a bit less than what I was hoping for considering the large number of active members on this message board...
The poll only records unidentifiable votes. I did not choose the version of the poll that shows how who made which particular vote...I'm only curious about the average balance - though, 14 votes so far is a bit less than what I was hoping for considering the large number of active members on this message board...
grandma
Market Veteran
- Reaction score
- 38
I tried to help you out, but it won't even let me near the box - I guess it is programmed so there is no `double-dipping?':nuts:
I believe you are correct, Grandma. It says I already voted as well, so they MB keeps a log of who voted, but that information is not available to me. Thanks!
Going through the books I read in 2009. A few were financial related:
When Genius Failed: The Rise and Fall of Long-Term Capital Management by Roger Lowenstein
I thought it was an interesting look at what when wrong at LTCM, the subsequent bailout orchestrated by the New York Fed and implemented by investment banks in 1998 - all because LTCM was too "interconnected" to fail. At the height of LTCM's meteoric rise it was leveraged nearly 100 to 1. Sounds like a familiar tune ten years later...
When Genius Failed: The Rise and Fall of Long-Term Capital Management by Roger Lowenstein
I thought it was an interesting look at what when wrong at LTCM, the subsequent bailout orchestrated by the New York Fed and implemented by investment banks in 1998 - all because LTCM was too "interconnected" to fail. At the height of LTCM's meteoric rise it was leveraged nearly 100 to 1. Sounds like a familiar tune ten years later...
Another one:
House of Cards: A Tale of Hubris and Wretched Excess on Wall Street by William D. Cohan
I thought it was a fascinating look "behind the curtain" of Bear Stearns, and the other Wall Street big shots. It chronicles in detail the blow-by-blow 10 day death spiral Bear went though, and also explains how Bear (and others) found themselves in such dire circumstances.
From Amazon.com:
"Engrossing....[Cohan] gives us in these pages a chilling, almost minute-by-minute account of the 10, vertigo-inducing days that one year ago revealed Bear Stearns to be a flimsy house of cards in a perfect storm....He does a deft job of explicating the underlying reasons that put Bear Stearns in peril in the first place....turns complex Wall Street maneuverings into high drama that is gripping and almost immediately comprehensible to the lay reader....riveting, edge-of-the-seat reading" --Michiko Kakutani, The New York Times
"Cohan vividly documents the mix of arrogance, greed, recklessness, and pettiness that took down the 86 year old brokerage house and then the entire economy. It's a page-turner in the tradition of the 1990 Barbarians at the Gate by Bryan Burrough and John Heylar, offering both a seemingly comprehensive understanding of the business and wide access to insiders....hard to put down, especially thanks to its dishy, often profane, quotes from insiders" --BusinessWeek
"Masterfully reported....[Cohan] has turned into one of our most able financial journalists....he deploys not only his hands-on experience of this exotic corner of the financial industry but also a remarkable gift for plain-spoken explanation...the other great strength of this important book is the breadth and skill of the author's interviews...Cohan does a brilliant job of sketching in the eccentric, vulgar, greedy, profane and coarse individuals who ignored all these warnings to their own profit and the ruin of so many others. It's impossible to do justice to his reportorial detail in a brief review..." -- Los Angeles Times
"A riveting blow-by-blow account of the days leading up to the government-backed shotgun wedding (to JPM)." -- The Economist
"A masterly reconstruction of Bear Stearns implosion--a tumultuous episode in Wall Street history that still reverberates throughout our economy today....meticulous reporting.....first drafts of history don't get much better than this" --Bloomberg
House of Cards: A Tale of Hubris and Wretched Excess on Wall Street by William D. Cohan
I thought it was a fascinating look "behind the curtain" of Bear Stearns, and the other Wall Street big shots. It chronicles in detail the blow-by-blow 10 day death spiral Bear went though, and also explains how Bear (and others) found themselves in such dire circumstances.
From Amazon.com:
"Engrossing....[Cohan] gives us in these pages a chilling, almost minute-by-minute account of the 10, vertigo-inducing days that one year ago revealed Bear Stearns to be a flimsy house of cards in a perfect storm....He does a deft job of explicating the underlying reasons that put Bear Stearns in peril in the first place....turns complex Wall Street maneuverings into high drama that is gripping and almost immediately comprehensible to the lay reader....riveting, edge-of-the-seat reading" --Michiko Kakutani, The New York Times
"Cohan vividly documents the mix of arrogance, greed, recklessness, and pettiness that took down the 86 year old brokerage house and then the entire economy. It's a page-turner in the tradition of the 1990 Barbarians at the Gate by Bryan Burrough and John Heylar, offering both a seemingly comprehensive understanding of the business and wide access to insiders....hard to put down, especially thanks to its dishy, often profane, quotes from insiders" --BusinessWeek
"Masterfully reported....[Cohan] has turned into one of our most able financial journalists....he deploys not only his hands-on experience of this exotic corner of the financial industry but also a remarkable gift for plain-spoken explanation...the other great strength of this important book is the breadth and skill of the author's interviews...Cohan does a brilliant job of sketching in the eccentric, vulgar, greedy, profane and coarse individuals who ignored all these warnings to their own profit and the ruin of so many others. It's impossible to do justice to his reportorial detail in a brief review..." -- Los Angeles Times
"A riveting blow-by-blow account of the days leading up to the government-backed shotgun wedding (to JPM)." -- The Economist
"A masterly reconstruction of Bear Stearns implosion--a tumultuous episode in Wall Street history that still reverberates throughout our economy today....meticulous reporting.....first drafts of history don't get much better than this" --Bloomberg
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