CONeal
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Posts posted by CONeal
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IIRC, they are being asked to contribute an amount equal to the governments entire yearly budget to the EFSF. How would we react if the US was asked to contribute $1 trillion to the IMF (just to come up with a comparable example)? Slovakia is the poorest - or close to it - of the Euro nations involved in this.
This wasn't a real surprise due to past actions and what they have been saying over the last month.
The thing that irritates me is Slovakia signed on for the one currency. You have to take the good with the bad. To take advantage of the benefits and then bitch like babies when disadvantages pop up is dumb.
The other countries need to step up and and tell them, your either in or your out. If your out, support your own currency and don't come crying when you have problems. This isn't a one way street.
In your comparable example, if it was to occur then in my view the US should pay up. They take the benefit of being the largest member in the organization and with that benefit they are able to exert certain privileges that the other countries to not have. For instance the US is the only country that has the power to veto based on their vote alone. Would it cause issues here? Of course, if that kind of bill came due it would be chaos.
In my view the European Union is more like a partnership. If you signed onto the partnership don't claim poverty when your share of a bill comes due. Everyone benefits from having this resolved now. You don't see France and Germany complaining very much bc they know that it what's best overall for everyone and they are putting up the most money. I will say that Europe has handled this alot better then we would have here in the US.
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This wasn't a real surprise due to past actions and what they have been saying over the last month.
The thing that irritates me is Slovakia signed on for the one currency. You have to take the good with the bad. To take advantage of the benefits and then bitch like babies when disadvantages pop up is dumb.
The other countries need to step up and and tell them, your either in or your out. If your out, support your own currency and don't come crying when you have problems. This isn't a one way street.
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Sad to learn about this. He really had a profound impact with everything he touched. He was "insanely great"
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I keep my portfolio on google finance this is to help avoid logging into my account and wanting to make an impulse purchases. My watch list is also a google portfolio that has alerts set up via yahoo finance once it reaches 5% of a buy/sell price.
Also have a piece of paper next to my sceen with everything I'm interested in written out and why, too see if the reasons are still intact when rummaging through the Internet.
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There are a few companies out there that does this. I remember Jay Leno doing a segment on it a few years back for a part on one of his collectible cars.
Wal Mart uses this technology when working with focus groups. Think the shampoo bottle would be more appealing with a different curve in the bottle? Let's print it up and see how you would like it while holding what you described. Very cool technology. ;D
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I appreciate everyones responses. For the last couple of years I have been telecommuniting so hoping the dicipline needed for that will become helpful doing this. I do agree with the post regarding if I start looking at the ticker every 15 minutes I will have to go back to work.
Thanks for the library idea, didn't think about that and I do love to read both business and pleasure also give the opportunity to be social. Have 4 books on my to do list so that should keep me distracted when I need down time.
Looking at the first year more as a student and looking doing this is improve my investment knowledge and background more then could be done on a part time basis. If I come away with finding 10 companies I really like but the price and wrong price right now I'd be satisified. Current portfolio doesn't need to cahgne any as I like the companies and the prices paid, time will help me on that side of things.
May sound weird but I am more concerend with heath, exercise and becoming a reculse then what happens to my portfolio on a day to day basis.
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With my contract coming to an end would like to devote the next year to investments and research for personal use. I have set aside the income need to live without having to tap my portfolio.
Wondering of the people on the board that does this full time if they have any tips? Like time management or anything you think would be beneficial or to watch out for.
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Insurance float is a form of leverage and / or spread investing....
True, but there is a major difference in that he gets paid while borrowing the insurance float.
In good years ya, perhaps not this year though. What about him taking on leverage when rates were low during most downturns.
Insurance float is not available to the common investor so it doesn't matter what WB does. He is a completely different ball of wax.
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My only thought to this idea is...
"Don't invest money that could leave you homeless."
People did this a few years ago and gt burned in 2008 when lenders pulled back their line of credit b/c of the housing downfall in the US. Along with the rapid spiral in share price it just to much risk in my view. Then again I never use leverage since its rule #1 for me.
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Over the past month quite a few friend that would be considered in "The Savers" category have started to put money in dividend related stocks.
All of their view are the same. Just barely keep enough for an emergency in savings and the get a better return with dividends. Treasuries are not worth the trouble and they are tired of being robbed at their bank.
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Wondering with the news today regarding the Fannie and Freddie lawsuit if this is a big step for pfds and better yet getting them back on their own feet.
http://news.yahoo.com/feds-sue-big-banks-over-sales-risky-investments-000212787.html
NEW YORK (AP) — The government on Friday sued 17 financial firms, including the largest U.S. banks, for selling Fannie Mae and Freddie Mac billions of dollars worth of mortgage-backed securities that turned toxic when the housing market collapsed.
Among those targeted by the lawsuits were Bank of America Corp., Citigroup Inc., JP Morgan Chase & Co., and Goldman Sachs Group Inc. Large European banks including The Royal Bank of Scotland, Barclays Bank and Credit Suisse were also sued.
The lawsuits were filed by the Federal Housing Finance Agency. It oversees Fannie and Freddie, the two agencies that buy mortgages loans and mortgage securities issued by the lenders.
The total price tag for the mortgage-backed securities sold to Fannie and Freddie by the firms named in the lawsuits: $196 billion.
The government didn't say how much it is seeking in damages. It said it wants to have the securities sales canceled and wants to be compensated for lost principal, interest payments as well as for attorney fees.
The government action is a big blow to the banks, many of which have seen their stock prices fall to levels not seen since the financial crisis in 2008 and 2009. Until now, the stocks have been undermined mostly by unrelated worries about the U.S. and European economies.
It is particularly damaging to Bank of America, which bought Countrywide Financial Corp. in 2008 and Merrill Lynch in 2009. All three are being separately sued by the government for mortgage-backed security sales totaling $57.5 billion.
After Bank of America, JPMorgan Chase was listed in the lawsuits with the second-highest total at $33 billion. Royal Bank of Scotland followed at $30.4 billion.
Bank of America has already paid $12.7 billion this year to settle similar claims. Last month insurer American International Group Inc. sued the bank for more than $10 billion for allegedly selling it faulty mortgage investments.
In a statement Friday, Bank of America rejected the claims in the government's lawsuits.
Fannie and Freddie invested heavily in the mortgage-backed securities even after their regulator said they didn't have the needed risk-management capabilities, the bank said. "Despite this, (Fannie and Freddie) are now seeking to hold other market participants responsible for their losses," it said.
Bank stocks fell sharply on Friday as news of the government's lawsuits emerged. Bank of America tumbled 8.3 percent, JP Morgan Chase fell 4.6 percent, Citigroup lost 5.3 percent, Goldman shed off 4.5 percent and Morgan Stanley's ended down 5.7 percent.
Residential mortgage-backed securities bundled pools of mortgages into complex investments. They collapsed after the real-estate bust and helped fuel the financial crisis in late 2008.
The FHFA said the mortgage-backed securities were sold to Fannie and Freddie based on documents that "contained misstatements and omissions of material facts concerning the quality of the underlying mortgage loans, the creditworthiness of the borrowers, and the practices used to originate such loans."
The FHFA filed a similar lawsuit in July against Swiss bank UBS AG, seeking to recoup more than $900 million in losses from mortgage-backed securities.
Also sued Friday were are Ally Financial Inc., formerly known GMAC LLC, Deutsche Bank AG, First Horizon National Corp., General Electric Co., HSBC North America Holdings Inc., Morgan Stanley, Nomura Holding America Inc., and Societe Generale.
JPMorgan, Goldman, Citigroup and Morgan Stanley declined to comment on the lawsuits. Ally Financial said in a statement said the government's "claims are meritless, and the company intends to defend its position aggressively." A spokeswoman for First Horizon said the bank intends to "vigorously defend" itself.
Ken Thomas, a Miami-based banking consultant and economist, said he expects the banks to settle soon with the government.
"This will be nothing but a distraction to them and the quicker you settle something like this the better," he said.
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Robbed a couple of banks and also picked up a couple of companies in the construction industry. Was 30+% cash a couple of days ago, now it's down to something like 0.00123. :D
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Got a kick of ready this post and having a sales force ad at the top of the page. ;D
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Thank goodness for a friend with an iPhone today. Was able to get my but off the beach for a couple of hours to buy some goodies.
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A little over 20 hours for me. Most of the time is spent looking for new idea that would be attractive at a certain price and then just filled away. If it reaches that price, then I just take a look at the original thesis to see if it still applies and what has changed since then.
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I was wanting to keep them in the state of NC if possible. Of course I'd like to get them cheap but I don't even know what that definition really means when it comes to these. Trying to gain an understanding before I do anything. More than likely will rely on outside help. More or less just looking to be pointed in the right direction.
I'll take a look into Pimpco and Black Rock. Maybe I can get a better understanding if they send out letters regarding the funds.
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Wondering if anyone on the board invest in muni's on a the board. My understanding is extremely limited in this area.
Any recommendations on where to get a more through understanding of this type of investment?
What are the mistakes investors make with these investments?
Any other advice you feel is important with these types of bonds?
If I went the advisor route, how can one determine if he/she is worth their salt?
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“This is likely to be the swan song,”
Whatever he decides to do he's been one of my favorite teachers. The phrases he comes up with become instant classics.
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Just a suggestion, if you do create an app (which I would enjoy) you might want to look into something like adobe air. If my understanding is correct it would allow it to be scaled across multiple platforms.
Posted form my Blackberry Playbook powered by QNX. ;D
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Who's Biglairi????? :D The first time I sold was bc he lost credibility. There wont be a second time, dont care what he does.
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I'm up right now mainly due to SD and NEOP. The market weakness has been taking some of it back. RIMM has been kicking me in the balls for now.
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Every time I see something about Coke in the back of my mind thinking. Ty Cobb might have been a great baseball player but he sure was one hell of an investor also.
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Looked at it a couple of months back.
Basically I like the concept but due to the CRL a couple of months back. They would have to have some major dilution or some other kind of funding in order to complete another phase 3 trial.
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Just thinking out loud, wouldn't it have been better to name the colisem o.co right from the beginning? Would help their branding campaign since people would be looking it up just out of curiousity. Saw there they can revert to the o.co came at anytime.
Fairfax portfolio changes
in Fairfax Financial
Posted
Southeastern added some shares in q3.