DrStool Posted August 31, 2010 Report Share Posted August 31, 2010 To August, goodbye and good riddance. Or, as Paul KangAss would say. The best of good buys! BWAHAHAHAHAHAHAHAHA Link to comment Share on other sites More sharing options...
specie Posted August 31, 2010 Report Share Posted August 31, 2010 JPM may be giving up on manipulating the precious metals markets Jessie's got the story: http://jessescrossroadscafe.blogspot.com/2010/08/bye-bye-blythe-jpm-shutting-down-their.html Link to comment Share on other sites More sharing options...
An Ant Posted August 31, 2010 Report Share Posted August 31, 2010 My mortgage bank is offering to refinance with no cost. I am through 6 years out of 30 year. Current rate is 5.125 (Paid 2 points to get it down from 5.5 Now the points are recovered) New rate is 4.375 (30 years) or 4.5 (20 Years) First choice reduces my monthly by about 18%. Second choice increases payment by about 5% Anyone in the mood to offer free advise? They pretty much want to the answer soon. Freddie has basically made my account eligible for the new program. And bank doesn't know how long it will be like that. Thanks Take the 30 year and keep your payments the same. Pay off you loan sooner that way. Unless you can earn more than 4.5% in something safe, then, if you have the cash, you should pay it off. If you do not have the cash consider how long it would take to pay it off if you could pay the maximum you possibly could each month and decide if the payback period is such that you would recover the fees. Perform the exercise using the assumption that you just pay down the existing mortgage with no fees against the alternative with the lower rate. Under any and all circumstances, if competing returns are less than the after tax mortgage rate, then you should pay it off as fast as possible. Otherwise you are just feeding the banker bonus pool. Thanks to goose and Doc for their answers. Link to comment Share on other sites More sharing options...
Ags Nightmare Posted August 31, 2010 Report Share Posted August 31, 2010 Seriously, what in the hell was that all about...it was like the machines were having an affair with 10,000. Light up the cigarette. and my dad on his death bed out of no where said those very words to me..."there is no stock market"...freaked me, my sister, and my mom out. We kept asking what do you mean ? He never answered and died the next day. We still talk about it. Link to comment Share on other sites More sharing options...
DrStool Posted August 31, 2010 Author Report Share Posted August 31, 2010 Bears couldn't get it done again...running out of time now.... ok, i mean your charts rock but, i keep thinking it's the PTB that are the ones running out of time See poll at top of page. Lurkers- You have to register to vote, to vote. No party affiliation necessary. Link to comment Share on other sites More sharing options...
capitall Posted August 31, 2010 Report Share Posted August 31, 2010 JPM may be giving up on manipulating the precious metals markets Jessie's got the story: http://jessescrossroadscafe.blogspot.com/2010/08/bye-bye-blythe-jpm-shutting-down-their.html "JPM recently suffered heavy losses in their proprietary commodity trading provoking a high level review by top executives." Amazing how with all the inside info, access to talented traders & expensive computer systems, they can still manage to lose their asses in the financial markets. But then there are no financial markets. They are just an illusion, of course. Reminds me of that Buffett quote "With enough inside info, and a million dollars, U can go broke in a year." Link to comment Share on other sites More sharing options...
rdkyote Posted August 31, 2010 Report Share Posted August 31, 2010 Swing away.... Ahhhh 10000. I feel so much better. Link to comment Share on other sites More sharing options...
swordfish Posted August 31, 2010 Report Share Posted August 31, 2010 50:1 leverage lives! http://ftalphaville.ft.com/blog/2010/08/31/330626/501-leverage-lives/ Municipal Yields Reach 43-Year Lows: http://www.bloomberg.com/news/2010-08-31/buy-stocks-as-municipal-yields-reach-43-year-lows-commentary-by-joe-mysak.html Link to comment Share on other sites More sharing options...
capitall Posted August 31, 2010 Report Share Posted August 31, 2010 Here, everyone, just go ahead & relax, like these squirrels here: http://www.city-data.com/forum/other-topics/181663-all-my-nutty-friends.html Or you can start a laughter yoga club in your city or town. It's more laughter than yoga. http://www.laughteryoga.org/ Link to comment Share on other sites More sharing options...
swordfish Posted August 31, 2010 Report Share Posted August 31, 2010 Death of equities may be exaggerated Investors shun U.S. stock mutual-fund managers, not stocks http://www.marketwatch.com/story/death-of-equities-may-be-exaggerated-2010-08-31?dist=afterbell Link to comment Share on other sites More sharing options...
Trader Joe Posted August 31, 2010 Report Share Posted August 31, 2010 My mortgage bank is offering to refinance with no cost. I am through 6 years out of 30 year. Current rate is 5.125 (Paid 2 points to get it down from 5.5 Now the points are recovered) New rate is 4.375 (30 years) or 4.5 (20 Years) First choice reduces my monthly by about 18%. Second choice increases payment by about 5% Anyone in the mood to offer free advise? They pretty much want to the answer soon. Freddie has basically made my account eligibl ne for the new program. And bank doesn't know how long it will be like that. Thanks Thanks to goose and Doc for their answers. Mish answered one of his readers having a similar issue....you can look for it on his site. My response would be as follows: Try and see what the catch is, if any...."more" points at closing, or other hidden T&C's (terms & conditions) Assuming everything is on the up and up, then: [1] You can go with Doc's theoretically correct answer or [2] If you have a view on rates, and you believe that rates are going to be low like today forever, again, Doc's is the right approach -- assuming no better return and taking into account the tax benefit of interest deductions but if you have a view that rates go up "materially" over the course of the next decade or so, then you are going to be kicking yourself in the head for not being able to take that cash and invest at higher rates (especially if they spike) [3] You can wait and see if rates go even lower, although assuming there is no incremental closing costs, I don't know why you would wait _______________ I find these offers to "good risks" quite curious, and it leads me to believe that the banks are looking to lock in those "good risks" before rates drop even further, it also tells me that the banks want to be long duration at these levels, which again, tells me they either know or are forecasting even lower from here, as insane as that may sound 2.25% for a 30-Year fixed? Can you imagine? Link to comment Share on other sites More sharing options...
T_Slim Posted August 31, 2010 Report Share Posted August 31, 2010 That Dow 10,000 level is something else isn't it? I can remember having lunch at a Chinese restaurant some time after the attacks on September 11, 2001 in Jacksonville. I'm sitting there eating my grub and two preppy douches walk in and look at the TV screen. The one goof goes, "Wow, the Dow is above 10,000." Public relations games at their finest. Link to comment Share on other sites More sharing options...
Trader Joe Posted August 31, 2010 Report Share Posted August 31, 2010 JPM may be giving up on manipulating the precious metals markets Jessie's got the story: http://jessescrossroadscafe.blogspot.com/2010/08/bye-bye-blythe-jpm-shutting-down-their.html I find this statement (from the farticle), and similar ones like it about other banks, almost unbelievable....I must be missing something According to a person who has been briefed, JPM will eventually be shutting down ALL proprietary trading in all markets in response to financial reform. This will include fixed income and equities which are much larger departments at the bank. Link to comment Share on other sites More sharing options...
capitall Posted August 31, 2010 Report Share Posted August 31, 2010 I find this statement (from the farticle), and similar ones like it about other banks, almost unbelievable....I must be missing something According to a person who has been briefed, JPM will eventually be shutting down ALL proprietary trading in all markets in response to financial reform. This will include fixed income and equities which are much larger departments at the bank. If the banks all did this, would it crash the illusory stock market? Is it possible banks are threatening to crash the market & the economy if certain financial reforms are made into law? Just like they apparently threatened to crash everything if the government didn't bail them out in 2008? Give us what we want or we'll take our big banker balls and go home? Link to comment Share on other sites More sharing options...
Drano Posted August 31, 2010 Report Share Posted August 31, 2010 I find this statement (from the farticle), and similar ones like it about other banks, almost unbelievable....I must be missing something According to a person who has been briefed, JPM will eventually be shutting down ALL proprietary trading in all markets in response to financial reform. This will include fixed income and equities which are much larger departments at the bank. I don't suppose there could be something like a consent decree involving the SEC wanting to close down GS's competition, could there? Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.