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Thread: OBGibby's Account Talk

  1. #1

    Default OBGibby's Account Talk

    Current Balance Distribution:

    C - 60%
    S - 20%
    I - 20%


    Current Distribution Allocation:

    C - 50%
    S - 25%
    I - 25%


    Historically, and currently, a "Buy & Holder."


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  3. #2

    Default Re: OBGibby's Account Talk

    Looks like a good car from Ford. Hope it does well.



    A Detroit Hybrid That Hums

    2010 Ford Fusion Hybrid.
    By JERRY GARRETT
    Published: June 18, 2009
    THE NEW YORK TIMES

    …“fuel economy: it is stellar for a car this large and useful…41 miles a gallon in the city, 36/ highway and 39/combined driving…an incredible 8 m.p.g. better than the similar-size Toyota Camry Hybrid in city driving and 2 m.p.g. better on the highway.”

    “What message does this Detroit-bred standout send us about the beleaguered American auto industry — you know, the one that reportedly can’t build high-mileage cars, the one that supposedly can’t compete with foreigners or take a lead in high technology, the one whose hybrids are routinely dismissed as years behind Honda’s and Toyota’s?

    Perhaps the Fusion Hybrid suggests that Ford, the only Detroit automaker to decline a government handout, really can deliver the advanced fuel-saving technology that it has been promising for years. (Remember Bill Ford’s unfulfilled pledge to raise the mileage of S.U.V.’s by 25 percent by 2005? )”



    http://www.nytimes.com/2009/06/21/automobiles/autoreviews/21fusion-hybrid.html?_r=1&hp

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  5. #3

    Default Re: OBGibby's Account Talk

    Watched Frontline's "Breaking the Bank" last night. It uses a lot of material previously shown in Frontline's "Inside the Meltdown" but does offer an inside glimpse into some of the reasoning and decision points behind the Bank of America - Merrill Lynch deal, as well as the fallout from that deal and TARP in general. Worth watching, especially since you can watch it for free on the Frontline website.

    http://www.pbs.org/wgbh/pages/frontline/breakingthebank/

    Program description:

    "Ken Lewis, the CEO of Bank of America, is in trouble -- a stock collapse; a rocky merger; the worst fourth-quarter losses in at least 17 years; a stockholder revolt; an urgent need to raise more capital despite a $45 billion infusion from the federal government; and on top of that, he effectively has a new boss, President Barack Obama."

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  7. #4

    Default Re: OBGibby's Account Talk

    For Older Investors, Old Rules May Not Apply

    By TARA SIEGEL BERNARD
    Published: June 19, 2009
    THE NEW YORK TIMES

    …a new study that contends holding stocks over long periods of time may be riskier than previously thought…most investment research only accounted for the risk of short-term market swings around the stock market’s average gain over time…doesn’t factor in the fact..that the average itself is subject to change...

    http://www.nytimes.com/2009/06/20/your-money/individual-retirement-account-iras/20money.html?em



    The study referenced in the article:

    Are Stocks Really Less Volatile in the Long Run?

    by Lubos Pastor and Robert F. Stambaugh
    First Draft: April 22, 2008
    This revision: May 22, 2009

    Abstract:

    Conventional wisdom views stocks as less volatile over long horizons than over short horizons due to mean reversion induced by return predictability. In contrast, we find stocks are substantiallymore volatile over long horizons from an investor’s perspective. This perspective recognizes that parameters are uncertain, even with two centuries of data, and that observable predictors imperfectly deliver the conditional expected return. Mean reversion contributes strongly to reducing long-horizon variance, but it is more than offset by various uncertainties faced by the investor, so that annualized 30-year variance is nearly 1.5 times the 1-year variance. The same uncertainties also make target-date funds undesirable to a class of investors who would otherwise find them appealing.


    The study can be downloaded from the following website:

    http://papers.ssrn.com/sol3/papers.c...act_id=1136847

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  9. #5

    Default Re: OBGibby's Account Talk

    We need Barney Frank meddling in the mortgage business again like we need a hole in our head.



    Here we go again! Barney Frank asks FANNIE and FREDDIE to relax Mortgage lending rules...




    JUNE 25, 2009
    The Wall Street Journal/Editorial


    Barney the Underwriter

    Telling Fannie Mae to take more credit risk. Now there's an idea.

    Back when the housing mania was taking off, Massachusetts Congressman Barney Frank famously said he wanted Fannie Mae and Freddie Mac to "roll the dice" in the name of affordable housing. That didn't turn out so well, but Mr. Frank has since only accumulated more power. And now he is returning to the scene of the calamity -- with your money. He and New York Representative Anthony Weiner have sent a letter to the heads of Fannie and Freddie exhorting them to lower lending standards for condo buyers….

    http://online.wsj.com/article/SB124580784452945093.html

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  11. #6

    Default Re: OBGibby's Account Talk

    June 28, 2009
    Americans Will Regret Health Care 'Fix'

    By George Will


    WASHINGTON -- "In the beginning," says a character in a Peter De Vries novel, "the earth was without form and void. Why didn't they leave well enough alone?" When Washington is finished improving health care, Americans may be asking the same thing...

    Most Americans do want different health care: They want 2009 medicine at 1960 prices. Americans spent much less on health care in 1960 (5 percent of GDP as opposed to 18 percent now). They also spent much less -- nothing, in fact -- on computers, cell phones and cable and satellite television...

    ...health care is increasingly competent. When the first baby boomers, whose aging is driving health care spending, were born in 1946, many American hospitals' principal expense was clean linen. This was long before MRIs, CAT scans and the rest of the diagnostic and therapeutic arsenal that modern medicine deploys...

    ...cost estimates pass the $1 trillion mark, the administration is reduced to talking about financing its reforms with mini-measures such as a 3 cent tax on sugary sodas....

    ...The public...may be coming to the conclusion that we should leave bad enough alone...

    http://www.realclearpolitics.com/articles/2009/06/28/a_fix_well_likely_regret_97207.html

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  13. #7

    Default Re: OBGibby's Account Talk

    The Bernie Madoff story is going to be very interesting once all the facts come out...Apparently, 8 investors are being scrutinized due to the large amounts of money they pulled out of the scheme, and the special treatment they received from Madoff...I'm looking forward to the books that are surely being written about the whole affair as I type these words...


    Madoff may not have benefited most in scam

    Client Jeffry Picower allegedly withdrew $5.1 billion from accounts

    By Jake Bernstein

    updated 1:02 p.m. ET June 28, 2009


    It is rare these days to see Bernard Madoff's name in print unaccompanied by the word "Ponzi." Yet recent allegations raise the possibility of one key difference between Madoff's crimes and those of legendary con artist Charles Ponzi. While Ponzi's scam was under way, Ponzi himself was its biggest beneficiary. It now appears that the biggest winner in Madoff's scheme may not have been Madoff at all, but a secretive businessman named Jeffry Picower.

    Between December 1995 and December 2008, Picower and his family withdrew from their various Madoff accounts $5.1 billion more than they invested with the self-confessed swindler, according to a lawsuit filed by the trustee who is trying to recover money for those Madoff defrauded..........


    http://www.msnbc.msn.com/id/31510209/ns/business-small_business//

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  15. #8

    Default Re: OBGibby's Account Talk

    China's banks are an accident waiting to happen to every one of us

    Fitch Ratings has been warning for some time that China's lenders are wading into dangerous water



    By Ambrose Evans-Pritchard
    Published: 5:38PM BST 28 Jun 2009


    ............China's banks are veering out of control. The half-reformed economy of the People's Republic cannot absorb the $1,000bn blitz of new lending issued since December.

    Money is leaking instead into Shanghai's stock casino, or being used to keep bankrupt builders on life support. It is doing very little to help lift the world economy out of slump.......

    http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/5675198/Chinas-banks-are-an-accident-waiting-to-happen-to-every-one-of-us.html

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  17. #9

    Default Re: OBGibby's Account Talk

    QUOTE: "The Bernie Madoff story is going to be very interesting once all the facts come out...Apparently, 8 investors are being scrutinized due to the large amounts of money they pulled out of the scheme, and the special treatment they received from Madoff...I'm looking forward to the books that are surely being written about the whole affair as I type these words..."

    Thanks for the The Bernie Madoff story. I spent over an hour last night reading story and some of the links. It will be interesting as the story continue in the coming months.
    "I'm your Huckleberry"


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  19. #10

    Default Re: OBGibby's Account Talk

    Quote Originally Posted by Handballer View Post
    QUOTE: Thanks for the The Bernie Madoff story. I spent over an hour last night reading story and some of the links. It will be interesting as the story continue in the coming months.

    Glad you liked it. That much money, over that long of a time period - surely the scheme is going to have some intriguing aspects as well as a host of characters...

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  21. #11

    Default Re: OBGibby's Account Talk

    I watched this last night. A very good respresentation of the calamity that resulted from the housing bubble, the rush to lend to anyone with a heartbeat, and the selling of those bundled mortgages to the entire world. An excellent mix of people who got the mortgages, to the mortgage brokers, to the banks, to the Wall Street firms that went overboard with them. I bought the program via iTunes but it appears that you can watch the entire program online for free (link posted below).



    THE HOUSE OF CARDS



    CNBC presents the definitive report on the defining story of our time. CNBC correspondent David Faber investigates the origins of the global economic crisis, with first person accounts from home buyers, mortgage brokers, investment bankers and investors – most of whom let greed blind them, leading to the greatest financial collapse since the Great Depression.


    http://www.cnbc.com/id/28892719

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  23. #12

    Default Re: OBGibby's Account Talk

    We Don't Need Big-Bang Health-Care Reform


    "...According to the U.S. Census Bureau, we don't have 47 million folks who are truly uninsured. When you take out college kids plus those earning $75,000 or more who choose not to sign up for a health-care plan, roughly 20 million people are removed from the list of uninsured. After that, you can remove the 10 million who are not U.S. citizens and the 11 million who are eligible for SCHIP and Medicaid but for some reason have not signed up for those programs. So that leaves only 10 million to 15 million people among the long-term uninsured...not with mandatory universal coverage, or new government-backed insurance plans, or massive tax increases. And certainly not with the Canadian-European-style nationalization...Knocking down profits and telling people what to do because government planners know best, right? Wrong. Absolutely wrong." --economist Lawrence Kudlow

    http://www.patriotpost.us/opinion/lawrence-kudlow/2009/06/25/we-dont-need-big-bang-health-care-reform.html

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