Posted on 08/16/2007 9:33:58 AM PDT by zencat
Well....do they have it ALL invested in ONE stock? And, what is their timeline for using that money? 1 year? 5 years? 25 years? Investing is not for sissies or those with weak stomachs (and weak financial planning).
There’s nothing they can do.. you are looking at a worldwide capital contraction that will be at least 1/2 a TRILLION dollars in the US in losses, and very realistic possibility of it being over a Trillion when its all said and done.
The stocks are spread out and if her health stays good (she is an elderly woman) and she should never need to use it for a nursing home, her family will inherit the stocks.
I wish the market would settle down a bit. I’ve almost lost my balance twice on this here window ledge...
Right now the Schwab website isn’t working..guess they must have broken down with the selling.
“uh huh, Americans spend more then they make, Buy houses on ARM’s they wont be able to afford, and import far more than they export and you think the fed can fix this?”
Most intellegent thing I have heard this year...
Well even a broken newb is right twice a day ;)
I just bought some BofA myself. BofA doesn’t make money lending people money to buy homes. They make money charging people $35 for a .50 Debit card overdraft, and $2 to use a “Non-Versateller ATM” Profits that will surely continue to grow a their customers’ balances dwindle. ;-)
I just bought some BofA myself. BofA doesn’t make money lending people money to buy homes. They make money charging people $35 for a .50 Debit card overdraft, and $2 to use a “Non-Versateller ATM” Profits that will surely continue to grow a their customers’ balances dwindle. ;-)
Yeah, I wanted to place a small buy order, and couldn't get in to do it. They gave a phone number for "urgent" trades, but I didn't bother. Actually, I'm pretty much fully invested already, and the buy was for a smaller amount than I normally allow myself for a minimum trade ($5,000).
Wow. On what do you base your estimates of a trillion dollars worldwide?
bookmark
The current published estimates are $200 Billion fallout from the “sub prime meltdown”.. but the reality is this isn’t just a sub prime meltdown, its a credit contraction and a huge one.
Just like every bubble bursting, early estimates are ALWAYS on the low side, because frankly the people driving the bubble, and ensuring everyone it isn’t a bubble, are the ones now predicting the fallout.. and they have always been low.
This 200 Billion estimate is far too low. THere has been a huge run up of EVERYTHING based on overleveraged business models and cheap credit.. Credit has been so cheap for so long, all sorts of run ups have been happened as entire business models have come about based on it... now that’s gone.. and most of those models will now collapse. Everything from Hedge Funds and highly leveraged entities artificially driving up prices of everything from oil to copper to yes, the price of homes. The credit contraction is not just going to affect housing, though that’s what the drive by’s are focusing on.
I don’t think its “the end of the world”... but the real issue is how quickly the crap is going to hit the fan... if it happens slowly, things won’t be too bad.. though total loses will be easily 1/2 trillion to a trillion total or even more. If it happens quickly... its going to get incredibly ugly.
Wow, good call. Who knew the rate what bang down?
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