Great Insight in the financial future

[Bob98SR5]

I remember Jamie (MTL) was predicting this YEARS ago. Jamie: can you manage my portfolio too?

[MTL_4runner]

I remember Jamie (MTL) was predicting this YEARS ago. Jamie: can you manage my portfolio too?

Bob, sadly this is even worse than I was predicting, but my timeframes were pretty much on target. Right now your best bet is to just preserve your capital rather than to try and get rich quick off of what's going on right now. It's bad enough that people should be even careful of what bank they have their money at.....yes, it's really that percarious.

Here's a tool for you to check what your bank's rating is:
http://www.thestreet.com/screener/in...ngsindex&tab=3

You want to have a "B" rating or higher, less than that is risky in today's market.

Also in today's market keep yourself as liquid as you can (ie as close to cash as possible) since many of the items you probably want (tools, TV's, boats, new cars, etc) will be quite a bit cheaper as people look to unload a liquidate themselves to shed debt. I'll never forget my old finance prof who's comment every time he walked into the room was "cash is king, folks, never forget that".....it was never more true than it is today.

My $0.02 for the day.

[MTL_4runner]

Guys, after the $700B bailout going south I just wanted to draw people's attention to my last post. This shizzle going down right now is serious stuff and has sowed some very bad long term seeds. I can't manage everyone's portfolios but I can give a little advice which might save you a whole lot of headache.

[oly884]

Jamie, my bank is rated at a B-.... Good, bad, too close to call?

[MTL_4runner]

Jamie, my bank is rated at a B-.... Good, bad, too close to call?

David, I think it's really up to the individual's comfort level. I put a B or higher as a rough guideline to help people, but obviously just like bonds, the higher the rating the more safe your money would be. There may not be anything to worry about in the end but no one really knows how it will all play out and the smartest people will be very careful about capital preservation.