Booster4324 Posted October 9, 2008 Share Posted October 9, 2008 It's been said but bears repeating since you're obviously dense. If someone is within 5 years of retirement and just lost 20% of their savings, they had the worst financial advisor on the planet. If I'm within 5 years of retirement, I expect to have no more than 10% of my money in equities unless I'm really gambling, and if I'm gambling, I am an ass. I was hacking on Chef and said so at least once when someone else got involved. I can't help it, I just like arguing with him, even though I like him. I freely admit I know next to nothing about the financial sector. I have admitted this on numerous occasions. Link to comment Share on other sites More sharing options...
Chef Jim Posted October 9, 2008 Share Posted October 9, 2008 I was hacking on Chef and said so at least once when someone else got involved. I can't help it, I just like arguing with him, even though I like him. I freely admit I know next to nothing about the financial sector. I have admitted this on numerous occasions. !@#$ you! Link to comment Share on other sites More sharing options...
Booster4324 Posted October 9, 2008 Share Posted October 9, 2008 !@#$ you! I was hoping you wouldn't read that... Seriously, it is probably because of the mutual restaurant back grounds where we moved on and made something of ourselves after that. You more so than me...but I am pretty sure I am still younger so lots of time to make up ground... Link to comment Share on other sites More sharing options...
Chef Jim Posted October 9, 2008 Share Posted October 9, 2008 I was hoping you wouldn't read that... Seriously, it is probably because of the mutual restaurant back grounds where we moved on and made something of ourselves after that. You more so than me...but I am pretty sure I am still younger so lots of time to make up ground... !@#$ you again. Link to comment Share on other sites More sharing options...
Pine Barrens Mafia Posted October 9, 2008 Share Posted October 9, 2008 It's been said but bears repeating since you're obviously dense. If someone is within 5 years of retirement and just lost 20% of their savings, they had the worst financial advisor on the planet. You'd be amazed at the number of seniors that have financial "advisors" that have them in 100% variable products. Link to comment Share on other sites More sharing options...
John Adams Posted October 10, 2008 Share Posted October 10, 2008 Watch It's a Wonderful Life again for a basic explanation of banking. It is based on trust, because your deposits are lent out to someone else, and the system survives as long as you trust your bank to hold your deposit. Once you and a few neighbors lose that trust and demand your money back trouble starts, because no bank will have enough money in the vault to satisfy all the depositors. That, in a nutshell is what's happening right now. People want their money back, and there isn't enough to go around because it's tied up in something else. It has nothing to do with a gold standard or monetary standard. No bank keeps all the deposits in the vault. I just blogged about that scene the other day. http://www.stadiumwall.com/index.php?act=P...mp;qpid=1163168 Damn that Mr. Potter. Link to comment Share on other sites More sharing options...
Chef Jim Posted October 10, 2008 Share Posted October 10, 2008 You'd be amazed at the number of seniors that have financial "advisors" that have them in 100% variable products. What's wrong with 100% variable product for a senior? Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted October 10, 2008 Share Posted October 10, 2008 But it's true. The only chance that McCain has is for the racist Dem voters to reconsider their vote once the curtain is closed. Hey... That's my gambit should Obama lose! Link to comment Share on other sites More sharing options...
Pine Barrens Mafia Posted October 11, 2008 Share Posted October 11, 2008 What's wrong with 100% variable product for a senior? For one thing, if a senior's risk tolerance is at a 1 on a 10 point scale, it's COMPLETELY unsuitable to put more than 20% in anything that can lose principal. Link to comment Share on other sites More sharing options...
Lurker Posted October 11, 2008 Share Posted October 11, 2008 In Lake County, OH, half the registrations ACORN submitted were fake. Obama's first job out of law school was working for them. I'm starting to wonder when the Obama "guilt by association" smears will start coming out because he's American.... Link to comment Share on other sites More sharing options...
Chef Jim Posted October 11, 2008 Share Posted October 11, 2008 For one thing, if a senior's risk tolerance is at a 1 on a 10 point scale, it's COMPLETELY unsuitable to put more than 20% in anything that can lose principal. Until you're properly licensed and know what variable products have to offer today in line guarantees that your fixed things can't I suggest you keep your mouth shut. Link to comment Share on other sites More sharing options...
In-A-Gadda-Levitre Posted October 11, 2008 Share Posted October 11, 2008 Until you're properly licensed and know what variable products have to offer today in line guarantees that your fixed things can't I suggest you keep your mouth shut. IMO Joe6P says some pretty off the wall things, and maybe he's full of it, but why can't you just correct him instead of acting 12 years old? Link to comment Share on other sites More sharing options...
meazza Posted October 11, 2008 Share Posted October 11, 2008 The difference between a Jim Cramer and a good financial advisor is that a good advisor doesn't need a market meltdown to tell his clients to be out of the equity market if they're within 5 years of retirement. Jim suffers from survivorship bias as all the portfolios that have gone bankrupt have mysteriously disappeared Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted October 11, 2008 Share Posted October 11, 2008 I don't understand the reasoning for purposely making fake registrations... One has to vote by showing ID... What was the point? Link to comment Share on other sites More sharing options...
Lurker Posted October 11, 2008 Share Posted October 11, 2008 I don't understand the reasoning for purposely making fake registrations... One has to vote by showing ID... What was the point? The canvessers are hired to find new voters and are paid by the hour. I suspect some of them fill lists of names and then goof off for the rest of the day. I've seen the same behavior by students/day laborers paid to survey people in the mall, deliver flyers door to door, etc. Is is a vast left wing conspiracy? Nope. It's the age old urge to get paid for doing nothing...sort of Wall Street-esq, actually. Link to comment Share on other sites More sharing options...
Wacka Posted October 12, 2008 Share Posted October 12, 2008 I don't understand the reasoning for purposely making fake registrations... One has to vote by showing ID... What was the point? Not in California. It is in fact illegal for the poll worker to ask you for ID. We also have permanent absentee here. I haven't stepped foot in a voting booth for at least 6 or 7 years. I mail it in about a week before Election Day. Link to comment Share on other sites More sharing options...
Max Fischer Posted October 12, 2008 Share Posted October 12, 2008 Not in California. It is in fact illegal for the poll worker to ask you for ID. We also have permanent absentee here. I haven't stepped foot in a voting booth for at least 6 or 7 years. I mail it in about a week before Election Day. In California you cannot register to vote unless you have ID. Thus if you are not registered you can't vote. Link to comment Share on other sites More sharing options...
Lurker Posted October 12, 2008 Share Posted October 12, 2008 In California you cannot register to vote unless you have ID. Thus if you are not registered you can't vote. Exactly. But boogeymen make for great headlines... Link to comment Share on other sites More sharing options...
swede316 Posted October 12, 2008 Share Posted October 12, 2008 Exactly. But boogeymen make for great headlines...But do they?..What if you register online? What stops me from providing a fake name, license number or ID number? Nothing. Sure you face prosecution but if you are homeless or don't reall give a s*#t, how are they gonna find you? They won't. Link to comment Share on other sites More sharing options...
Max Fischer Posted October 12, 2008 Share Posted October 12, 2008 But do they?..What if you register online? What stops me from providing a fake name, license number or ID number? Nothing. Sure you face prosecution but if you are homeless or don't reall give a s*#t, how are they gonna find you? They won't. You cannot register on-line. Link to comment Share on other sites More sharing options...
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