MSNBC and your money

[Spivonious]

If you're ever on the East Coast you can come by and jam in the guitar room downstairs

[fett]

Nice house. "Mr. Phelps. This tape will self-destruct in 5 seconds.":ROTF: :ROTF: :ROTF: :ROTF: :ROTF:

[iced_earth]

Makes sense to me. I just emailed our banker and told him to lock in the rate. The check's in the mail Fett

On a sidenote, here's the house we're buying:
http://homes.realtor.com/prop/1085122498

Congrats on the house! I just went through the same thing a couple months ago. It looks like rates have gone up about .75% since I locked my rate in and if you read the news they might keep going up because of the sub-prime "crisis"... with American Home Mortgage Investment Corp heading towards BK lenders seem to tightening more and raising interest rates. Not a bad idea to lock now...

[Axewielder]

Ok Fett, so...about that "dead cat bounce"....what do you do in a market that looks like a dead cat bouncing down a flight of stairs!! HELP

[fett]

Back up 5 and punt? I don't know. I just have a feeling that this is not over yet. And things could get a lot worse.

[fett]

BFD rally today. I heard the "Donald" on CNBC. He may be a jerk, but he is no dummie. He was not very upbeat. These wild swings in the "Averages" are a big Red Flag. Let me put it this way; "Cash is King".

[dg]

Cramer meltdown:

http://www.youtube.com/watch?v=rOVXh4xM-Ww

fukkin' classic. CNBC is great if you watch for entertainment purposes only.

[fett]

Wahoo!!!!! The big credit scare is all over and the markets are on the rise again. See, a week or two of crapping your pants and then you are "Regular" again. Bets?

[Axewielder]

I'm Back in Black!!! Dow 14000 here we come...again?!?

[fett]

Sure. Why not?:ROTF: :ROTF: Everything is all better now. It was just a "Blip". A minor correction in a Bull Market. Squier guitar prices are going to the moon.

[fett]

I am salivating like a wolf over a lamb. This is going to get real good. That is you have been in cash just waiting for this bull run to break. I wish you guys knew how fucked-up the idea of "Investing" has become. I could write a book. But, I will just say keep your powder dry.

[rjohnstone]

I've dumped most of my 401k money over to CASH a few months back.
NONE of the funds I was in were earning jack shit.
It's nice to be able to manage ones own 401k allocations.

[fett]

You are one smart person. Now, here is the trick. There will come a time to get "Invested". But, that is a matter of sitting in cash and waiting. I have gone through credit crunches and stockmarket crashes. That includes the Savings and Loan Crisis, the 1987 Crash, the Dot-Com Melt-Down and all the rest. Here is the Big-Dif. There are trillions of dollars in off market exotic plays that have leverage at 10 to 1. When prices go up, life if great. But when someone farts for a billion of so, and someone else has a part of that, he gets gas. And when the Easy Money dries up and the markets go down, the shit will fly.

[rjohnstone]

Unfortunately my choices for allocations are limited to the a VERY short list of "approved" funds or stocks.
So until one of these funds picks up or my options change, I'm sitting on the cash. I'm about 70% in cash right now with the rest in company stock, which is holding it's own right now, and some extremely conservative mutual funds.

I work in the credit sector, so I have restrictions on what I can and cannot invest in. Damn conflict of interest crap and access to insider info can really get in the way.
But those are the rules I have to live by for now.

[fett]

I just love CNBC and their attempts to "Explain Away" this downturn. Kudlow is an ass. Here is the bottom-line. Anytime a stock sells at a multiple of earnings, you take a risk. You are betting that future earnings justifies the current stock price. But, this worldwide market is full of everything other than looking at a stock's future. It's all leverage and the fast buck and has nothing to do with the company. That's why I will just wait until all this BS has been wringed out of a good company. What you are seeing is what's called "Distribution". That means the guys that have made their money have realized it's time to get out. So they sell to all the bozos who listen to CNBC.