Show-me Account Talk

[Show-me]

Morning all,

I was listening to Clark Howard on the way home and he gave a great piece of advice. Cancel electronic statements and file a hard copy of everything from your savings account, brokerage account, mutual fund, mortgage, etc. Take no chances, bits and bytes on the computer can change or disappear in the blink of a eye.

 

[fabijo]

Morning all,

I was listening to Clark Howard on the way home and he gave a great piece of advice. Cancel electronic statements and file a hard copy of everything from your savings account, brokerage account, mutual fund, mortgage, etc. Take no chances, bits and bytes on the computer can change or disappear in the blink of a eye.

shhh. Don't tell people my secret. I've been skimming those bits and bytes for myself.

 

[Show-me]

BCS buying LEH in bankruptcy.

GS thinking of buying WFC.

AIG falling off cliff.

 

[Show-me]

This may be a good thing. The natural progression of business. Weak, stupid companies swallowed up whole by stronger companies.

 

[Show-me]

Man of Truth in a shirt and tie.

 

[Show-me]

Fed is reported to inject some massive liquidity into the system.

 

[ATCJeff]

Fed is reported to inject some massive liquidity into the system.

yesterday they injected 70 billion!

 

[Show-me]

UYG is looking like a buy for my Roth, but I am going to wait as I am off the grid today.

 

[ATCJeff]

UYG is looking like a buy for my Roth, but I am going to wait as I am off the grid today.

Still $3.00 above it's July low.

 

[ATCJeff]

Fed is reported to inject some massive liquidity into the system.

50 billion injected today so far....
source:CNBC

 

[lindalyc]

Morning all,

I was listening to Clark Howard on the way home and he gave a great piece of advice. Cancel electronic statements and file a hard copy of everything from your savings account, brokerage account, mutual fund, mortgage, etc. Take no chances, bits and bytes on the computer can change or disappear in the blink of a eye.

Show:
would you please enlighten me on this one as I hate to store boxes of boxed of paper statements over years.

how about save electronic files on external hard drives?

could not fine any scripts of Howard's you mentioned.

thanks

 

[Show-me]

Show:
would you please enlighten me on this one as I hate to store boxes of boxed of paper statements over years.

how about save electronic files on external hard drives?

could not fine any scripts of Howard's you mentioned.

thanks

I would think that electronic files to a external hard drive would be fine, but he was advocating hard copies yesterday on the drive home.

 

[KevinD]

Drives fail. Paper burns. Disks brake.

Anything can happen. Just don't rely on others. Take care of documentation yourself.

 

[Braveheart]

Calling for a GREEN DAY today. :nuts:I always like the long shot but right now futures are up 25 which doesn't mean anything.

Well I made a good call this morning at 5 AM EST and actually made real money today. I will be Calling for a GREEN DAY tomorrow.:nuts:

 

[350zCommTech]

Well I made a good call this morning at 5 AM EST and actually made real money today. I will be Calling for a GREEN DAY tomorrow.:nuts:

Good call Braveheart and congrats!


This is one BS market. So far today:

1) Fed held rates = market tanks
2) Rumor of Fed loan to AIG = market rallies

and then after market close:

3) Rumor of AIG going to conservatorship = AIG tanks AH.

 

[Birchtree]

Wall Street Journal announces the Fed will make a bailout loan to AIG, but structure is not yet known.

 

[Gumby]

Wall Street Journal announces the Fed will make a bailout loan to AIG, but structure is not yet known.

Well, hopefully it is not a bailout. I didn't like the BSC deal in March.
I am a shareholder of AIG and I hoped that they would find the capital needed or a buyer. AIG opened at $1.25 this morning and at one point was over $5.00 this afternoon. Should be a another wild ride tomorrow.:nuts:

 

[Birchtree]

Gumby,

If you can hold your AIG position and DCA into firesale prices this company will be back to $80 in three years. My plan is to buy this company and many of my other financial companies all the way back up - and that day will happen sooner than most anticipate.

 

[Gumby]

Gumby,

If you can hold your AIG position and DCA into firesale prices this company will be back to $80 in three years. My plan is to buy this company and many of my other financial companies all the way back up - and that day will happen sooner than most anticipate.

Birch,

I hope you are right.
I may buy more shares tomorrow if AIG looks like they can skirt bankrupcy. This has been a good company and are huge. They made some poor choices just like many other financials.
I'll have to watch CNBC tonight and see what the talking heads have to say.

I looked at buying some AIG options also today. This may be a risky bet.
I got blasted on my MER Put options over the weekend. I didn't see a buyout coming for MER and it could happen to AIG also.

 

[350zCommTech]

Well, hopefully it is not a bailout. I didn't like the BSC deal in March.
I am a shareholder of AIG and I hoped that they would find the capital needed or a buyer. AIG opened at $1.25 this morning and at one point was over $5.00 this afternoon. Should be a another wild ride tomorrow.:nuts:

Gumby,

If you can hold your AIG position and DCA into firesale prices this company will be back to $80 in three years. My plan is to buy this company and many of my other financial companies all the way back up - and that day will happen sooner than most anticipate.

Lets examine some of the rumored possibilities for AIG:

1) Private equity backstop

According to the media, AIG needs to raise about $75-100B by tomorrow. Experts are saying this idea is pretty much dead.

2) Fed extends loans to AIG. This is a likely possibility. But how will this fix AIG? This is nothing but a bandaid.

3) Conservatorship. Well, we know how that turned out for FNM/FRE shareholders.