Any lawyers? What's our recourse here....?
Crass action deserves class action.
Who's in?....I'm calling EAP for my free legal advice...wooT!
Very unfortunate, this! No surprise it's mostly I transactions when that's the only fund out there that's made more than 7 percent earnings, this year, and that includes the L funds. L funds were invented to avoid the lost money in the as happend in the 2000-2002 account fiascos, however I would point out that the current L funds have not been in effect during a downturn, until now. How can we trust such a new system as the L's? They did well in the upturn, yes, but that's not the time our accounts need help.
The other choice is trying to do it yourself, with you in the driver's seat, and in this time of roller coaster markets, that means lots of corrections. Again during the 2000-2002 fiasco, if I remember, we were very limited in how many times we could change our IFT's and that was one of the reasons a lot of people lost their shirts.
So we are talking about trying to turn the coaster 2X a month and hope you did the second one right, or use a L fund that we haven't seen work during a downturn. I"m sure the L funds have been tested using past trends, but I haven't seen the data so I'm leery.
"All the prophets of Doom, Can always find room, In a world full of worry and fear..." - Protest Song, Monty Python
Those L funds are just a retirement horizon based allocation. They don't do anything special for an upturn nor a downturn. They don't do anything for capital preservation nor do they do anything for gain. They simply rebalance EVERY DAY (rebalancing = day-trading, no?) you get closer to 2010, 2020, 2030, 2040. They are not reactive, they simply do what they do regardless of what the markets are doing.
If I am wrong, someone please correct me -- I'm never offended trust me!
Twice a month??? Let's see... the trading curbs are removed on the exchanges now and yet we are gonna try and get the most for our retirement (since they sold the old system down the river long before I became a fed) based on two guesses a month?
More ranting to come --- I'm just more than a little ticked off right now to actually be hearing more about this. We should ask the TSP board for the balance sheets right now!!!
Which one of you nuts has got any guts? -- Randle P. McMurphy
... stupidity will always find a way. -- Nnuut
Wait a second....3,000 into 3.8 million = .07% of investors using TSP on a daily basis. But that percentage of account holders caused 13 million dollars in trade costs increases?
3,000 traders are moving 2 billion dollars (from the plural "billions" in the article) are moved almost daily? One question I have is which ones of you guys are doing this for fun? I have no where near that kind of money to influence that much volume.
And now I have to ask, who negotiated a contract where trading increases at that level? I figured we were getting a fair transaction price from Barclay's? I cannot see the numbers adding up here. Some people on this site must be making millions.
This is sheer craziness. I want representation on this matter. Are we kidding ourselves? Our money our rights. I say we start a movement, "the .07%" ers! I call to the PEOPLE! I CALL TO THE INVESTOR! I CALL TO YOU!
THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
Tracker = Check my position
I know some have disagreed, but I keep saying they should charge a small fee per transaction. Don't tie our hands behind our backs. Charge a fee and let us do what we do.
The amounts they are talking about are such a miniscule percentage but they are using the dollar figures to make it look shocking. Fees went from 2.2 million to 15 million? How much has the total TSP balance grown in that time?
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
$2 billion/ 3,000 accounts is $66,666 avg account size. That's reasonable
$2,000,000,000/3,000 = $666,666 not $66,000
The board said the excessive transfers are hurting TSP by driving up transaction expenses from $2.2 million in 2004 to more than $15 million in 2006.$15 million to serve 3 million people for a year?! This is a problem? That's $5 dollars a year per person. That's an incredibly cheap service they want to take from us.3.8 million TSP enrollees
$666k average, I see I have some catching up to do. I would like to see some details backing these numbers up, they seem to be pulled out of the, umm, ahhhh, air.
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