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August 21, 2007 at 7:22 PM in reply to: Anyone Using Everbank? If so, opinions and thoughts appreciated…. #79071
cashman
ParticipantWouldn’t worry about Countrywide. Wall St. Journal says W. Buffett is interested in buying them. He already has a big stake in B of A.
ParticipantWouldn’t worry about Countrywide. Wall St. Journal says W. Buffett is interested in buying them. He already has a big stake in B of A.
ParticipantWouldn’t worry about Countrywide. Wall St. Journal says W. Buffett is interested in buying them. He already has a big stake in B of A.
ParticipantBubblesitter, interesting that you opened this thread on about the same day that the market topped, and the same day that Eric Jantzen at iTulip called a market top. You have obviously been doing your homework.
I am definitely more risk adverse today than even a month ago. I posted this link on another thread, but I’ll post it again here:
http://market-ticker.denninger.net/2007/08/weekend-speech-part-deux-come-to-jesus.html
I had a lot of cash in one particular internet bank, several times the FDIC limits. It’s four star rated by BankRate.com, and I had thought that the chances of it going bust are slim to zero. I have rethought that notion with the turmoil of the past month. Even if the bank doesn’t fold, there is a good chance that there will be “runs on the banks” out of people’s fear which could cause systemic risk. I feel it’s better to be prepared than not. Kinda like the saying “it’s better to have a gun and not need it than to need a gun and not have it.” So I’m transferring my cash to other banks and opening additional accounts to keep the amounts within insured limits. It’s a big hassle. I’m one of those people that likes to have things all in one place. But I’ve always believed that the successful people in this world are those that are willing to adapt to changing circumstances.ParticipantBubblesitter, interesting that you opened this thread on about the same day that the market topped, and the same day that Eric Jantzen at iTulip called a market top. You have obviously been doing your homework.
I am definitely more risk adverse today than even a month ago. I posted this link on another thread, but I’ll post it again here:
http://market-ticker.denninger.net/2007/08/weekend-speech-part-deux-come-to-jesus.html
I had a lot of cash in one particular internet bank, several times the FDIC limits. It’s four star rated by BankRate.com, and I had thought that the chances of it going bust are slim to zero. I have rethought that notion with the turmoil of the past month. Even if the bank doesn’t fold, there is a good chance that there will be “runs on the banks” out of people’s fear which could cause systemic risk. I feel it’s better to be prepared than not. Kinda like the saying “it’s better to have a gun and not need it than to need a gun and not have it.” So I’m transferring my cash to other banks and opening additional accounts to keep the amounts within insured limits. It’s a big hassle. I’m one of those people that likes to have things all in one place. But I’ve always believed that the successful people in this world are those that are willing to adapt to changing circumstances.ParticipantBubblesitter, interesting that you opened this thread on about the same day that the market topped, and the same day that Eric Jantzen at iTulip called a market top. You have obviously been doing your homework.
I am definitely more risk adverse today than even a month ago. I posted this link on another thread, but I’ll post it again here:
http://market-ticker.denninger.net/2007/08/weekend-speech-part-deux-come-to-jesus.html
I had a lot of cash in one particular internet bank, several times the FDIC limits. It’s four star rated by BankRate.com, and I had thought that the chances of it going bust are slim to zero. I have rethought that notion with the turmoil of the past month. Even if the bank doesn’t fold, there is a good chance that there will be “runs on the banks” out of people’s fear which could cause systemic risk. I feel it’s better to be prepared than not. Kinda like the saying “it’s better to have a gun and not need it than to need a gun and not have it.” So I’m transferring my cash to other banks and opening additional accounts to keep the amounts within insured limits. It’s a big hassle. I’m one of those people that likes to have things all in one place. But I’ve always believed that the successful people in this world are those that are willing to adapt to changing circumstances.ParticipantRead this latest post from Karl Denninger:
http://market-ticker.denninger.net/2007/08/weekend-speech-part-deux-come-to-jesus.html
I’m scrambling right now to get my house in order.ParticipantRead this latest post from Karl Denninger:
http://market-ticker.denninger.net/2007/08/weekend-speech-part-deux-come-to-jesus.html
I’m scrambling right now to get my house in order.ParticipantRead this latest post from Karl Denninger:
http://market-ticker.denninger.net/2007/08/weekend-speech-part-deux-come-to-jesus.html
I’m scrambling right now to get my house in order.ParticipantPersonally, I don’t want financial Armegeddon or wish ruin upon anyone that doesn’t deserve it from their own foolishness or greed. But there is something obviously wrong with the market action these last couple of days. Let’s take Thursday, for example. Markets all over the world tanked big time. The US market was heavily down until the last hour of trade. Then, magically it recovered to almost flat line. There was definitely some intervention. Carry trades are unwinding like crazy, the asian markets crash even more on Friday, and what does our market do? Something stinks on Wall St. Again, I’m not wishing for the world to come to an end, but I do feel that markets should be allowed to run their course without artificial respiration. It’s only going to make the inevitable outcome that much more painful.
ParticipantPersonally, I don’t want financial Armegeddon or wish ruin upon anyone that doesn’t deserve it from their own foolishness or greed. But there is something obviously wrong with the market action these last couple of days. Let’s take Thursday, for example. Markets all over the world tanked big time. The US market was heavily down until the last hour of trade. Then, magically it recovered to almost flat line. There was definitely some intervention. Carry trades are unwinding like crazy, the asian markets crash even more on Friday, and what does our market do? Something stinks on Wall St. Again, I’m not wishing for the world to come to an end, but I do feel that markets should be allowed to run their course without artificial respiration. It’s only going to make the inevitable outcome that much more painful.
ParticipantPersonally, I don’t want financial Armegeddon or wish ruin upon anyone that doesn’t deserve it from their own foolishness or greed. But there is something obviously wrong with the market action these last couple of days. Let’s take Thursday, for example. Markets all over the world tanked big time. The US market was heavily down until the last hour of trade. Then, magically it recovered to almost flat line. There was definitely some intervention. Carry trades are unwinding like crazy, the asian markets crash even more on Friday, and what does our market do? Something stinks on Wall St. Again, I’m not wishing for the world to come to an end, but I do feel that markets should be allowed to run their course without artificial respiration. It’s only going to make the inevitable outcome that much more painful.
ParticipantWhat I meant in response to “the rise and fall of real estate” is that the cycle hasn’t completed itself, like the dot.com bust. Just a technicallity, as I know we are well underway. But it’s too soon to gloat about the fall of real estate as we don’t really know where it’s going to end up. Actually in my area prices have not budged. Sad.
ParticipantWhat I meant in response to “the rise and fall of real estate” is that the cycle hasn’t completed itself, like the dot.com bust. Just a technicallity, as I know we are well underway. But it’s too soon to gloat about the fall of real estate as we don’t really know where it’s going to end up. Actually in my area prices have not budged. Sad.
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