Big Banks are the Riskiest

  • Avatar

    Posted: 26 May 2010 09:08 PM

    According to Bob Prechter during the interview.  Sell all equities and buy Treasury Bills.


    Eric Landstrom,

    Your counter argument?

    Signature

    Stay Hungry. Stay Foolish.  - Steve Jobs

         
  • Avatar

    Posted: 26 May 2010 11:28 PM #1

    Mace - 27 May 2010 12:08 AM

    According to Bob Prechter during the interview.  Sell all equities and buy Treasury Bills.


    Eric Landstrom,

    Your counter argument?

    As I said of Prechter on May 5th, “On Bloomberg TV Elliot Wave International?s Prechter just said that bear market has six more years to go and that the best place to be is in cash.”

    That makes Prechter a perma-bear.

    If you want to lesson your risk, purchase high yield preferred bank stock with a conversion date. For example look at BAC’s series H.

    As Bishop and Green pointed out in The Road from Ruin: How to Revive Capitalism and Put America Back On Top, “Like it or not, the financial system is the lifeblood of the capitalism on which our prosperity depends. When the ability of the financial system to lend money, keep savings safe, and make payments is threatened, government needs to step in.”

    [ Edited: 26 May 2010 11:40 PM by Eric Landstrom ]

    Signature

    Black Swan Counter: 9 (Banks need money, Jobs needs a break, Geithner has no plan, Cuomo’s grandstanding, .Gov needs a hobby, GS works for money, flash crash, is that bubbling crude?).

    For those who look, a flash allows one to see farther.

         
  • Avatar

    Posted: 27 May 2010 11:40 AM #2

    Is THIS proposed tax beneficial or dangerous?

    What You Need To Know About Tobin Tax & Why You May Want To Sell Your Bank Stocks.

     

    :apple:

         
  • Avatar

    Posted: 27 May 2010 01:15 PM #3

    MacCube - 27 May 2010 02:40 PM

    Is THIS proposed tax beneficial or dangerous?

    What You Need To Know About Tobin Tax & Why You May Want To Sell Your Bank Stocks.

     

    :apple:

    The guys argument is that he does not like people being able to buy and sell when ever they want. When will these lefties get it, the stock market is a risk, there are no guarantees. I get so sick of these types thinking that legislation to hurt the big guys is going to benefit them. If you don’t like the way the game is played, don’t play. GRRRRRRR :-x

    Signature

    Adversity does not just build character, it reveals it.

         
  • Avatar

    Posted: 27 May 2010 01:52 PM #4

    The Euros are cutting off their nose to spite their face by taxing their banking systems to as to have resources for an orderly failure of their banking systems.

    The bottom line is that no matter the tax, those fees are passed onto the consumers of credit. Higher costs of credit will result in less commerce and less prosperity. This is not to say that all taxes are bad, but we need only enough taxes to maintain .gov interest in backstopping financial systems since the optimism of human nature is prone to boom and then bust cycles.

    Signature

    Black Swan Counter: 9 (Banks need money, Jobs needs a break, Geithner has no plan, Cuomo’s grandstanding, .Gov needs a hobby, GS works for money, flash crash, is that bubbling crude?).

    For those who look, a flash allows one to see farther.