It has been quite a week. The markets have gone crazy, The financial crisis is at its worse since the depression of 1929 and now we have the government wanting to bail out investment companies with our-hard earned tax money. What is wrong with ths picture? Wait a minute I never signed up for this!
Investing in the stock market and any other investment instruments has always been for speculation and was never a sure bet. Pleople do know the risks they take when they invest. If you cannot take the heat get out of the kitchen!
Money markets used to be viewed as secure investments and they used to be, but one must remember that is is still investing and are in no way a savings accounts.The largest money market in the world Reserve Funds with 65 Billions in assets "broke the buck" this week and that is very scary. People got scared because they had 1.2% of Lehman Brothers securities and they received redemption orders amount to 60 billions. If they reimburse all those investors at the same time, there is no way that they can provide full NAV $1 and NAV $.97 as they will have to sell all their lots at a loss, so now everyone is going to have to wait in line as they just filed for an extension with the SEC for settlement of unfulfilled redemptions in addition to the seven days they were already allowed.
Of course, get this, the minimum investment requirement for those fundsi s $10M, so guess who the government is helping bail out? you and me or the big corporations?
Here we go again!!!
Anyway once again this has been a crazy week, my project is coming to an end after 3 months next week. A new one will be starting and I cannot wait. Like my friend tells me it is good for me and will definitely keep me out of trouble and keep me mind occupied.
One good news, I have been waiting for the results of my tests and they came back negative, so no leukemia for me nor blood clotting for me. They had been monitoring me for six months and my latest tests had shown up various abnormalities in my blood. So today I am in the clear; even my cholesterol was normal. I guess working 16 hours a day lately has been good for me LOL... Just kidding.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment