[Deserted]

Don’t overlook a critical point.

Fat_lazy_union and nostradamos are giving excellent advice, but I want to highlight one critical point that they’ve already brought up.

You probably have a non-recourse loan. I would advise you to get an expert third party to verify that. If true, GMAC will almost certainly want you to sign a new loan if they cut you any slack on the interest. This will almost certainly be a recourse loan. In your position, it sounds like a recourse loan would be a potential financial timebomb. DO NOT SIGN A RECOURSE LOAN UNDER ANY CIRCUMSTANCES.

As all other posters have pointed out, do not I repeat do not cash in your IRA to placate GMAC.

The time for assessing blame for getting into this loan is long past. For what it’s worth (not much), in my opinion offering these loans is the moral equivalent of giving car keys to someone who’s a staggering drunk.

[Deserted]

Don’t overlook a critical point.

Fat_lazy_union and nostradamos are giving excellent advice, but I want to highlight one critical point that they’ve already brought up.

You probably have a non-recourse loan. I would advise you to get an expert third party to verify that. If true, GMAC will almost certainly want you to sign a new loan if they cut you any slack on the interest. This will almost certainly be a recourse loan. In your position, it sounds like a recourse loan would be a potential financial timebomb. DO NOT SIGN A RECOURSE LOAN UNDER ANY CIRCUMSTANCES.

As all other posters have pointed out, do not I repeat do not cash in your IRA to placate GMAC.

The time for assessing blame for getting into this loan is long past. For what it’s worth (not much), in my opinion offering these loans is the moral equivalent of giving car keys to someone who’s a staggering drunk.

[Deserted]

Speaking as (if) an attorney in SEC defense, I find it reprehensible that anyone could impugn the high-minded ideals and saintly ethics of the esteemed mortgage industry. Personally, I find it particularly distasteful to even suggest that leaders in this field could be civilly or criminally liable for their acts of selfless devotion to their industry and their stockholders.

Thankfully, the SEC agrees with me as they apparently find nothing wrong with Mr. Angelo Mozilo’s actions which have been nothing but transparent throughout this trying ordeal of the past few months. I believe Mr. Mozilo’s humanity is clearly exposed in the following link:

http://finance.yahoo.com/q/pr?s=CFC

[Find “Ownership” on the left and click on “Insider transactions”]

PS I need work since Ken died.

[Deserted]

Speaking as (if) an attorney in SEC defense, I find it reprehensible that anyone could impugn the high-minded ideals and saintly ethics of the esteemed mortgage industry. Personally, I find it particularly distasteful to even suggest that leaders in this field could be civilly or criminally liable for their acts of selfless devotion to their industry and their stockholders.

Thankfully, the SEC agrees with me as they apparently find nothing wrong with Mr. Angelo Mozilo’s actions which have been nothing but transparent throughout this trying ordeal of the past few months. I believe Mr. Mozilo’s humanity is clearly exposed in the following link:

http://finance.yahoo.com/q/pr?s=CFC

[Find “Ownership” on the left and click on “Insider transactions”]

PS I need work since Ken died.

[Deserted]

Speaking as (if) an attorney in SEC defense, I find it reprehensible that anyone could impugn the high-minded ideals and saintly ethics of the esteemed mortgage industry. Personally, I find it particularly distasteful to even suggest that leaders in this field could be civilly or criminally liable for their acts of selfless devotion to their industry and their stockholders.

Thankfully, the SEC agrees with me as they apparently find nothing wrong with Mr. Angelo Mozilo’s actions which have been nothing but transparent throughout this trying ordeal of the past few months. I believe Mr. Mozilo’s humanity is clearly exposed in the following link:

http://finance.yahoo.com/q/pr?s=CFC

[Find “Ownership” on the left and click on “Insider transactions”]

PS I need work since Ken died.

[Deserted]

Patience, Grasshopper — patience.

So you wish to invest in all things Chinese? May you live in interesting times. Great care must be taken, Grasshopper, when investing after a run-up. As the great philosopher Ugo Lo once said, “The monkey’s grasp shows the way of of the moon’s shadow.” No one knows what that means, Grasshopper. And no one can tell if the Chinese market will go up, down, or sideways based on past performance.

Patience and balance.

If you want to invest heavily in China, overweight it, but also invest in the greater World market (including the US).

Buy what everyone else is selling and sell what everyone else is buying. And, to quote a real person (Sir John Templeton), buy when there’s blood on the streets.

This pitiful advice comes from someone who lost many times chasing the shadows of profits.

[Deserted]

Patience, Grasshopper — patience.

So you wish to invest in all things Chinese? May you live in interesting times. Great care must be taken, Grasshopper, when investing after a run-up. As the great philosopher Ugo Lo once said, “The monkey’s grasp shows the way of of the moon’s shadow.” No one knows what that means, Grasshopper. And no one can tell if the Chinese market will go up, down, or sideways based on past performance.

Patience and balance.

If you want to invest heavily in China, overweight it, but also invest in the greater World market (including the US).

Buy what everyone else is selling and sell what everyone else is buying. And, to quote a real person (Sir John Templeton), buy when there’s blood on the streets.

This pitiful advice comes from someone who lost many times chasing the shadows of profits.

[Deserted]

Patience, Grasshopper — patience.

So you wish to invest in all things Chinese? May you live in interesting times. Great care must be taken, Grasshopper, when investing after a run-up. As the great philosopher Ugo Lo once said, “The monkey’s grasp shows the way of of the moon’s shadow.” No one knows what that means, Grasshopper. And no one can tell if the Chinese market will go up, down, or sideways based on past performance.

Patience and balance.

If you want to invest heavily in China, overweight it, but also invest in the greater World market (including the US).

Buy what everyone else is selling and sell what everyone else is buying. And, to quote a real person (Sir John Templeton), buy when there’s blood on the streets.

This pitiful advice comes from someone who lost many times chasing the shadows of profits.

[Deserted]

Go easy on the newguy.

He’s already bought — and at a large discount. While I may believe pricing will fall further, newguy got a very good deal now. Who’s to say that his discounted price now won’t be the market price in 2 – 4 years?

“Don’t try to buy at the bottom and sell at the top. It can’t be done except by liars.” Bernard Baruch (discussing the stock market, not the real estate market — you decide if it applies).

[Deserted]

Go easy on the newguy.

He’s already bought — and at a large discount. While I may believe pricing will fall further, newguy got a very good deal now. Who’s to say that his discounted price now won’t be the market price in 2 – 4 years?

“Don’t try to buy at the bottom and sell at the top. It can’t be done except by liars.” Bernard Baruch (discussing the stock market, not the real estate market — you decide if it applies).

[Deserted]

Go easy on the newguy.

He’s already bought — and at a large discount. While I may believe pricing will fall further, newguy got a very good deal now. Who’s to say that his discounted price now won’t be the market price in 2 – 4 years?

“Don’t try to buy at the bottom and sell at the top. It can’t be done except by liars.” Bernard Baruch (discussing the stock market, not the real estate market — you decide if it applies).

[Deserted]

We will not solve this here.

Investment advice will always be controversial. Variations in short-term markets will prove fools to be geniuses and vis versa.

That being said, I feel compelled to respond to this blog.

In my opinion, investing in foreign currencies is a poor strategy. Currency markets are a zero sum game. It is fraught with hazard (it has bankrupted giant banks). If you believe that you can outwit literally thousands of full-time currency traders at the game they rig — go for it.

On the other hand, foreign (international) stocks are not a zero sum game. They represent an ever-expanding (I hope) world economy. In the long run they should be excellent investments when paired with holdings in the world’s largest economy, the US.

In World history since the industrial revolution, stocks have been the preferred investments. There is no reason to expect a change in the future. Forget the numerous naysayers — I’ve already heard them all. The vast majority of reputable advisors will agree with my opinion.

I will refer the young, the naive, and the misinformed to a site put out by Ken Fisher Investments. Mr. Fisher may be more informed than you. He is a billionaire investor. He has written an investment column for Forbes Magazine for 25 years. He runs one of the more successful private investment companies (I’m a very happy client).

The short advice:
Don’t bet on foreign currencies
Don’t buy gold or commodites (though gold stocks may be worthwhile)
Don’t buy bonds when you’re in your 20s

http://www.marketminder.com/

I don’t know if Rich agrees with me. From lurking here over the last year and now finally posting, I have come to highly respect his real estate insights. I would love to hear his opinion.

[Deserted]

We will not solve this here.

Investment advice will always be controversial. Variations in short-term markets will prove fools to be geniuses and vis versa.

That being said, I feel compelled to respond to this blog.

In my opinion, investing in foreign currencies is a poor strategy. Currency markets are a zero sum game. It is fraught with hazard (it has bankrupted giant banks). If you believe that you can outwit literally thousands of full-time currency traders at the game they rig — go for it.

On the other hand, foreign (international) stocks are not a zero sum game. They represent an ever-expanding (I hope) world economy. In the long run they should be excellent investments when paired with holdings in the world’s largest economy, the US.

In World history since the industrial revolution, stocks have been the preferred investments. There is no reason to expect a change in the future. Forget the numerous naysayers — I’ve already heard them all. The vast majority of reputable advisors will agree with my opinion.

I will refer the young, the naive, and the misinformed to a site put out by Ken Fisher Investments. Mr. Fisher may be more informed than you. He is a billionaire investor. He has written an investment column for Forbes Magazine for 25 years. He runs one of the more successful private investment companies (I’m a very happy client).

The short advice:
Don’t bet on foreign currencies
Don’t buy gold or commodites (though gold stocks may be worthwhile)
Don’t buy bonds when you’re in your 20s

http://www.marketminder.com/

I don’t know if Rich agrees with me. From lurking here over the last year and now finally posting, I have come to highly respect his real estate insights. I would love to hear his opinion.

[Deserted]

The only effect I can see from passage of this bill will be an acceleration of the downward spiral of real estate values in bubble markets such as San Diego.

Although this measure really only corrects an unreasonable tax provision, it is still typical of governmental interference in an existing market: it will have the opposite of the desired effect.

[Deserted]

The only effect I can see from passage of this bill will be an acceleration of the downward spiral of real estate values in bubble markets such as San Diego.

Although this measure really only corrects an unreasonable tax provision, it is still typical of governmental interference in an existing market: it will have the opposite of the desired effect.

[Author]

Posts