Show-me Account Talk

[airlift]

Show,

I highlighted in bold what I consider to be minimal additions and/or grammar changes below:

Here is a draft I plan to send out in the morning. Please tell me what you think I need to improve it as well as grammar, punctuation, and the whole nine yards. TIA

The FRTIB is planning to impose interfund transfer restrictions without consent from the participants or the ETAC. These restrictions are in opposition of the Code of Federal Regulation guide lines. They are listed at the end of this brief. As my advocate I want the FRTIB to rescind their decision to impose limits on TSP trades, including the decision to send threatening letters to selected TSP members.

Market impact and fair valuation are the underlying problems caused by the contractual requirement of BGI, Barclay Global Investment, by TSP. That requirement is to settle our trades by the end of each trading day and that it be reflected in the share price even though the standard for the market is that it takes 3 days to settle trades.

I can only assume that the “trading cost” referenced in each FRTIB meeting minutes attachments are caused by these unrealistic contractual requirements and mass flight to safety during very volatile months.

For example, trading cost of the I Fund Jan. to Sept. 2007 is $12,240,419. One month stands out, August with $10,522,348 or 32.7 basis point in trading cost. Other months that stand out are February and April with $4,198,802 or 24.3 basis points and $1,489,043 or 11.8 basis points, respectively.

August as a whole was a very volatile month and I would venture to guess that more than just the “3000 frequent traders” made interfund transfers that month. More like a flight to safety after the negative sub prime mortgage news started to come out.

The last week in February was also very volatile, erasing all gains for the entire month in a few days. April would seem to be an anomaly at this point as it was not as volatile as the other two months.

The two most volatile months had the largest “trading cost” and they exceed the YTD total. That would tell me that much more than the “3000” were trading those months and the fact is that the policies and contract for clearing our trades through BGI need to be address more than the number of interfund transfers done by a fraction of participants.

Large moves when the market is volatile causes BGI to delay complete payment of those large trades. This is diluting the fund return also, so it is not JUST frequent trading of the I fund, but the shell game that BGI has to play by buying futures contracts because the contractual requirements to settle IFT daily even thought they are restricted to a 3 day settlement period.

There are a number of solutions to solve these problems:

1. Use indicies or ETF’s that follow TSP fund exactly so that they easier to trade on the open market.
2. Stop fair valuation by posting share prices the morning of the following day.
3. Limit trade in the I Fund only using the 3 day rule for trades to settle.



1. TITLE 5--ADMINISTRATIVE PERSONNEL CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD PART 1601_PARTICIPANTS' CHOICES OF TSP FUNDS--Table of Contents Subpart D_Contribution Allocations and Interfund Transfer Requests Sec. 1601.32 Timing and posting dates.
(b) Limit. There is no limit on the number of contribution allocations or interfund transfer requests that may be made by a participant.
2. TITLE 5--ADMINISTRATIVE PERSONNEL CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD PART 1601_PARTICIPANTS' CHOICES OF TSP FUNDS--Table of Contents Subpart C_Redistributing Participants' Existing Account Balances (Interfund Transfers) Sec. 1601.22 Methods of requesting an interfund transfer.
(a) Participants may make an interfund transfer using the TSP Web site or the ThriftLine, or by completing and filing the appropriate paper TSP form with the TSP record keeper in accordance with the form's instructions. The following rules apply to an interfund transfer request:

 

[Show-me]

Thank You, Airlift!!!

 

[airlift]

Welcome. Don't forget to return the bold words to normal once you decide to adopt the changes. But do keep in bold the sentences you have in the language associated with IFTs and ThriftLine (Below)

 

[nnuut]

The FRTIB is planning to (on) imposing interfund transfer restrictions without consent from the participants or the ETAC. These restrictions are in opposition of the Code of Federal Regulation guide lines. They are listed at the end of this brief. As my advocate I want the FRTIB to rescind their decision to impose limits on TSP trades, including the decision to send threatening letters to selected TSP members.

Market impact and fair valuation are the underlying problems cause (caused) by the contractual requirement of BGI, Barkley Global Investment (BGI), by the TSP. That requirement is to settle our trades by the end of each trading day and it be (is)reflected in the share price even though the standard for the market is that it takes 3 (business) days to settle trades.

I can only assume that the “trading cost” referenced in each (of the) FRTIB meeting minutes attachments are (were) caused by these unrealistic contractual requirements and mass flight to safety during very volatile months.

For example, trading cost of the I Fund Jan. to Sept. 2007 is (was) $12,240,419. One month stands out, August with $10,522,348 or 32.7 basis point in trading cost. Other months that stand out are February and April with $4,198,802 or 24.3 basis points and $1,489,043 or 11.8 basis points, respectively.

August as a whole was a very volatile month and I would venture to guess (say) that (assuredly,) more than just the “3000 frequent traders” made interfund transfers that month. More like (This was) a flight to safety after the sub prime news started to come out (, and the Market appeared to be crashing).

The last week in February was also very volatile, erasing all gains for the entire month in a few days. April would seem to be an anomaly at this point as it was not as volatile as the other two months.

The two most volatile months had the largest “trading cost” and they exceed the YTD total. That would tell me that much more than the “3000” were trading those months and the fact is that the policies and contract for clearing our trades through BGI need (needs) to be address (addressed) more than the number of interfund transfers done by a fraction of participants.

Large moves when the market is volatile causes BGI to delay complete payment of those large trades. This is (has) diluting (diluted) the fund (funds) return (returns) also, so it is not JUST frequent trading of the I fund, but the shell game that BGI has to play by buying futures contracts because (of) the contractual requirements to settle IFT (IFTs) daily even thought they are restricted to a 3 day settlement period.

There are a number of solutions (needed in order) to solve these problems.
1. Use indicies or ETF’s that follow TSP fund exactly so that they easier to trade on the open market.
2. Stop fair valuation by posting share prices the morning of the following day.
3. Limit trade in (only) the I Fund only(,) using the 3 day rule for trades to settle (to settle trades).

 

[airlift]

Nnuut,

It's good that you caught additional changes which I overlooked!

 

[nnuut]

Nnuut,

It's good that you caught additional changes which I overlooked!

We were working on it at the same time, so duplications happen.

 

[Show-me]

I updated the changes.

 

[Show-me]

The Federal Retirement Thrift Investment Board (FRTIB) is planning to impose interfund transfer restrictions without consent from the participants or the Employee Thrift Advisory Council (ETAC). These restrictions are in opposition of the Code of Federal Regulation (CFR) guide lines. The CFR's are listed at the end of this brief. As my advocate/representative I want the FRTIB to rescind their decision to impose limits on interfund transfers, including the decision to send threatening letters to selected TSP members.

Market impact and fair valuation are the underlying problems caused by the contractual requirement of Barclay Global Investment (BGI), by TSP. That requirement is to settle our trades by the end of each trading day and that it is reflected in the share price even though the standard for the market is that it takes 3 business days to settle trades.

I can only assume that the “trading cost” referenced in each FRTIB meeting minutes attachments were caused by these unrealistic contractual requirements and mass flight to safety during very volatile months.

For example, trading cost of the I Fund Jan. to Sept. 2007 was $12,240,419. One month stands out more than all, August with $10,522,348 or 32.7 basis point in trading cost. Other months that stand out are February and April with $4,198,802 or 24.3 basis points and $1,489,043 or 11.8 basis points, respectively.

August as a whole was a very volatile month for all TSP Funds and I would venture to say that more than just the “3000 frequent traders” made interfund transfers that month. This was a flight to safety after the negative sub prime mortgage news started to come out, and the Market appeared to be crashing. Not only did the I Fund see its highest monthly trading costm but the C and S fund had the highest trading cost too.

The last week in February was also very volatile, erasing all gains for the entire month in a few days. April would seem to be an anomaly at this point as it was not as volatile as the other two months.

The two most volatile months had the largest “trading cost” and they exceed the YTD total. That would tell me that much more than the “3000” were trading those months and the fact is that the policies and contract for clearing our trades through BGI needs to be addressed more than the number of interfund transfers done by a fraction of participants.

Large moves when the market is volatile causes BGI to delay complete payment of those large trades. This has diluted the I Funds returns also, so it is not JUST frequent trading of the I fund, but the shell game that BGI has to play by buying futures contracts because of the contractual requirements to settle IFT daily even thought they are restricted to a 3 day settlement period.

There are a number of solutions to solve these problems:
1. Use indices or ETF’s that follow TSP fund exactly so that they easier to trade on the open market.
2. Stop fair valuation by posting share prices the morning of the following day.
3. Limit trade only in the I Fund. Using the 3 day rule to settle trades..



1. TITLE 5--ADMINISTRATIVE PERSONNEL CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD PART 1601_PARTICIPANTS' CHOICES OF TSP FUNDS--Table of Contents Subpart D_Contribution Allocations and Interfund Transfer Requests Sec. 1601.32 Timing and posting dates.
(b) Limit. There is no limit on the number of contribution allocations or interfund transfer requests that may be made by a participant.
2. TITLE 5--ADMINISTRATIVE PERSONNEL CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD PART 1601_PARTICIPANTS' CHOICES OF TSP FUNDS--Table of Contents Subpart C_Redistributing Participants' Existing Account Balances (Interfund Transfers) Sec. 1601.22 Methods of requesting an interfund transfer.
(a) Participants may make an interfund transfer using the TSP Web site or the ThriftLine, or by completing and filing the appropriate paper TSP form with the TSP record keeper in accordance with the form's instructions. The following rules apply to an interfund transfer request:

 

[FogSailing]

Show Me:

Thanks again for an excellent post. I've now written my congresswoman and my two senators, as well as sent emails to union friends in DOE, and NARFE, and TSP via it's webmaster.

IT IS MY SINCERE HOPE THAT FEDERAL EMPLOYEES HAVE AN AWARENESS OF THIS PROBLEM AND WILL CONTACT THEIR REPRESENTATIVES TO PROTEST THE ACTIONS OF TSP MANAGEMENT. IF PEOPLE DO NOT RAISE THEIR VOICES, THESE GUYS WILL GET AWAY WITH THIS COUP.

SM, is there a list somewhere of folks we should be contacting other than the usual suspects.

Any other thoughts and guidance is appreciated.

FS

 

[airlift]

Show, please check the bold in the first sentence. Take care.

The FRTIB is planning on impose (should read, is planning to impose) interfund transfer restrictions without consent from the participants or the ETAC. These restrictions are in opposition of the Code of Federal Regulation guide lines. They are listed at the end of this brief. As my advocate I want the FRTIB to rescind their decision to impose limits on TSP trades, including the decision to send threatening letters to selected TSP members.

Market impact and fair valuation are the underlying problems caused by the contractual requirement of Barclay Global Investment (BGI), by TSP. That requirement is to settle our trades by the end of each trading day and that it is reflected in the share price even though the standard for the market is that it takes 3 business days to settle trades.

I can only assume that the “trading cost” referenced in each FRTIB meeting minutes attachments were caused by these unrealistic contractual requirements and mass flight to safety during very volatile months.

For example, trading cost of the I Fund Jan. to Sept. 2007 was $12,240,419. One month stands out more than all, August with $10,522,348 or 32.7 basis point in trading cost. Other months that stand out are February and April with $4,198,802 or 24.3 basis points and $1,489,043 or 11.8 basis points, respectively.

August as a whole was a very volatile month and I would venture to say that assuredly, more than just the “3000 frequent traders” made interfund transfers that month. This was a flight to safety after the negative sub prime mortgage news started to come out, and the Market appeared to be crashing.

The last week in February was also very volatile, erasing all gains for the entire month in a few days. April would seem to be an anomaly at this point as it was not as volatile as the other two months.

The two most volatile months had the largest “trading cost” and they exceed the YTD total. That would tell me that much more than the “3000” were trading those months and the fact is that the policies and contract for clearing our trades through BGI needs to be addressed more than the number of interfund transfers done by a fraction of participants.

Large moves when the market is volatile causes BGI to delay complete payment of those large trades. This has diluted the I Funds returns also, so it is not JUST frequent trading of the I fund, but the shell game that BGI has to play by buying futures contracts because of the contractual requirements to settle IFT daily even thought they are restricted to a 3 day settlement period.

There are a number of solutions to solve these problems:
1. Use indices or ETF’s that follow TSP fund exactly so that they easier to trade on the open market.
2. Stop fair valuation by posting share prices the morning of the following day.
3. Limit trade only in the I Fund. Using the 3 day rule to settle trades..



1. TITLE 5--ADMINISTRATIVE PERSONNEL CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD PART 1601_PARTICIPANTS' CHOICES OF TSP FUNDS--Table of Contents Subpart D_Contribution Allocations and Interfund Transfer Requests Sec. 1601.32 Timing and posting dates.
(b) Limit. There is no limit on the number of contribution allocations or interfund transfer requests that may be made by a participant.
2. TITLE 5--ADMINISTRATIVE PERSONNEL CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD PART 1601_PARTICIPANTS' CHOICES OF TSP FUNDS--Table of Contents Subpart C_Redistributing Participants' Existing Account Balances (Interfund Transfers) Sec. 1601.22 Methods of requesting an interfund transfer.
(a) Participants may make an interfund transfer using the TSP Web site or the ThriftLine, or by completing and filing the appropriate paper TSP form with the TSP record keeper in accordance with the form's instructions. The following rules apply to an interfund transfer request:

 

[nnuut]

OR, The FRTIB is planning to (on) imposing interfund transfer restrictions

 

[Show-me]

Updated again. Check it out.

 

[FogSailing]

Show Me:

Thank you so very much for being a leader on this effort. I just made a small token to the cause..Keep us informed and my sincere thanks..

FS

 

[Show-me]

Hey, no problem. Now lets make some money!!!

 

[Show-me]

Bad news should be good news and bolster a rate cut. Be nimble with that 12 noon cut off time. LOL

Will we see a sell off and a -FV of the I Fund?

 

[Show-me]

Yea, and it looks like a pull back is starting. The 200 dma is going to be a tuff nut to break.

 

[Show-me]

Hey Folks,

I have never asked anyone to spend money on anything on this or any other message board. Spending money is hard for me to do on my salary, but James is trying very hard to fight the Federal Retirement Thrift Investment Board (FRTIB) and it really take a little "seed" money to make things start to happen.

Throw www.tspshareholder.org a bone or two. I have and I know many others have donated and I want to thank them personally because we are helping each other with this.

Credit card or PayPal is taken and even if it is just $5 bucks it will help. Please help me help James get this started and make a donation at www.tspshareholder.org and contact the advocates from the Employee Thrift Advisory Council.

 

[Show-me]

www.tspshareholder.org

From the sound of the silence on the MB, something is about to happen.

The 200 dma shares a title with the 50% retracement of our current S&P correction, it is called resistance and the 20 dma is support.

Putting a trend line on both a weekly and daily three year chart shows me that 1350 is possible, but 1400 is more likely. We have a double top on both also. And to me the 200 dma is on the verge of breaking over and starting a decline. Got a gap that needs filled too.

www.tspshareholder.org

News is not very good and the credit card problems I spoke of in the past are creeping in. Worst thing that could happen now is a big bout of foul weather to make the consumers energy cost go through the roof and keep them out of the retail stores for Christmas.

Simply put, even if the Fed lowers rates the problem is not fixed, but we should get a pop if the Fed is generous. I think the Fed will wait to do it on Dec 11 to spur on the Santa Rally to the end of the year. To early and it could peter out. Retest the lows and then try to pop the 200dma before the end of the year.

Abby J. Cohen and some others said 1600 before the end of the year. I think not, 140 points is a long haul in a short time at this point.

What say you?

www.tspshareholder.org

 

[Show-me]

22 points to the 200 dma and this mornings report will test it.

 

[Show-me]

Third test of 200 dma in four weeks. http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=3&dy=0&id=p52296275881