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Here is a quick peak at a Client Only Quick Notes Alert that went out this morning. Some days my clients get one and some days two, three or more throughout the day.
Hello Everyone:
Very interesting developments overnight. Two of the biggies:
1 – National Australia Bank has taken a huge CDO write down. This will reverberate through the financial world. It will get everyone thinking about . . . (more for clients)
2 – The SEC has been leaking out little tidbits overnight about their plans to overhaul the entire shorting system here in the US . . . . I(more for clients) f it is extended beyond the 19 stocks or if new rules apply to all stocks, this will absolutely destroy the financial markets . . . . (more for clients) big boys will be battling each other. . . . It’s a lose – lose for America and a win – win for the Paulson’s buddies.
The politicians know what’s going on. Just look at what President Bush said last week, when he though the microphones were off . . . President Bush: "Wall Street got drunk" - http://www.youtube.com/watch?v=z_FDRjluLJQ
If you have friends that are not Crisis Investing now, you need to talk to them. At the very least, they need to sell all of their stocks and mutual funds.
TRADERS: We had a fantastic day yesterday. . . . (more for clients) start thinking about futures until around 8ish in the morning. We will be looking at adding additional . . . . (more for clients) providing the SEC does not do something really stupid. If they do, we go to cash ASAP and wait till things settle down.
BASIC ACCOUNTS: I would still be adding to positions. I like all of the positions we have listed. . . . (more for clients)
CNBC: If you watch Kudlow at all, this man is dangerous. He is far more dangerous than anyone else that is on TV or writes anything. This man is truly a devil’s assistant. It is pukable to listen to him and he has destroyed many lives with his Buy-Buy-Buy and his Goldilocks comments. If you are mesmerized by this loud mouth, you need to turn off the TV, and go see an exorcist ASAP.
TRADE ALERTS: (for retainer trading clients only)
WARNING: If you are not Crisis Investing yet, you need to sell all of your stocks and mutual funds and start looking at some of the investment and protection things we are doing.
Friday, July 25, 2008
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7 comments:
Hi Mike,
I was listening to Peter Schiff this week and he thinks Congress' bailout plan for Freddie/Fannie is a disaster. Basically, he believes that we are going to nationalize the mortgage market in the US. The government will guarantee mortgages allowing all the shady/risky lending practices of the last few years to reignite (he compared it to a Casino - heads you win, tails the US Gov loses. So who wouldn't want to play right?)
This will have the effect of slowing down or stopping the huge home price deflation in the US. But the cost will be massive depreciation of the US $ and inflation of prices everywhere else in the economy.
What do you think of this? Could this bailout bill really slow real estate price deflation? Even if mortagages are guaranteed, could people be so hurting that they can't borrow anyway?
This kind of fiddling from the Feds makes me so angry. I want these speculators and fraudsters to be punished - not rewarded. We are such hypocrites here in the US - always touting "free markets" (Except, of course, when they go down . . . then we invoke the spirit of Marx and Engels)
Thanks for your response
Brian in Manhattan
HI Mike
I just wanted to take a few moments and share some thought with you. As I have been receiving the updates you have so kindly have included me on your mailing list, I am so amazed at the depth of the financial situation our country is in. I feel secure in my job and my personal finances, however every place I look there are signs of people hurting.
The information you have shared in your newslettersvhas made me personally aware of the dire situation out there.
I want to tell you again how much you are my hero. I am trying to model my life after yours not that I will achieve the goals you have, but for your approach on Christian giving. I am so on board with you on this. I never had a childhood hero growing up, but now that I am older I have found one = you, Mike. Please keep up the great work and know that you are very appreciated by me (and many others)
I was going to write and ask if you would make available the downloads of your conference calls but you beat me to it.
I know you are very busy but thank you for taking time to read my email.
God Bless you
Sincerely
T.R.
Mike,
I've been reading for months now. I bet a lot of people are wondering along with me, "What about the middle class folks?" I know you offer packages for smaller portfolios, but what about just dumping all stocks and mutual funds and paying off your house? What do you think of this? It's a guarenteed 8% (or whatever percent) return. Is this the answer for those who are not into day trading?
Wondering:
Inflation is a tool for wealth
transfer. Your home loan will be
deducted and wiped out in true value by inflation automaticly in a long run. As interest rate is very low, I try to borrow as much as possible, HELOC.. etc. I have removed my assets to gold sector since 2004.
Now I sit and wait SHTF.
It is a bear market. DOW lost 20%, so in many stocks
in one year.
I thought I was ready.However Mr. Morgan may show me
another brighter way to invest and reconsider my strategy. Should I be a client of Mike's? I think that I will. $150 per month?
It is no big deal. At least $150 can be an "insurance" for future.
I wanted to post this here as soon as i read it wednesday:
Predatory Lenders' Partner in Crime
How the Bush Administration Stopped the States From Stepping In to Help Consumers - Feb. 14, 2008
http://www.washingtonpost.com/wp-dyn/content/article/2008/02/13/AR2008021302783.html
This is an amazing article talking about how certain members of the administration worked against state attorney generals and over turned all the laws against balloon interest rates and other predatory lending tactics.
1 in 160 homes in existence are now in foreclosure and we are about to give the banking industry 300 BILLION dollars plus give them a black checkbook to the Treasury.
I am unable to comprehend just how on earth this is all about to get approved!
Worst of all: With the government pumping money into the banking industry they have no reason to work with home owners on reducing rates or let supply/demand effect housing prices on the open market.
Why should they? Paulson and Bernake got their back with a giant check book!
Crappy side effect: Banking stocks go up, Dollar keeps crashing? Is that why fund managers are buying into them? (someone explain to me how banks can decide only to take a 9% write down of all the off the books high risk liability they are carrying?)
Oh well, I wait for November and the derivatives market to cash in. Im sure that will be enlightening and is probably why the government is trying to do so much now right?
Once again, I must apologize to everyone that is posting comments, sending emails and leaving voice mails. I simply do not have the time to respond to everyone. I wish I could, but with what is going on in the markets, I am just about running 20 hours a day. I get a breather from 6-7 in the afternoon before Australia and the Far East start trading, and then another little nap before Europe. It is round the clock right now with the level of information flooding in and the level of trading for a variety of clients around the globe.
I must dedicate my time to my clients. With that said, this month I offered plans for the little guy, and I also offer some 20 minute blocks of my time at very low rates, but that is the best I can do. If you don't want to purchase some of my time, I suggest you at least listen to the 3.5 hour conference call I held on July 17th. That alone will give you enough to keep you thinking, get you thinking and get you moving in the right direction. You can purchase the download for that call and the following one using this link - http://www.morgan-florida.org/07-18-08
You stuff is unbelievable. I've doubled up my portfolio since finding you. You have been so spot on the money that it is scary. I did lose a bundle on your SKF at the top but the next week you gave us the out to double up with the options at the bottom. That was pure billiance. Thanks from the bottom of our hearts.
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