BofA Leading Again

According to the Bank Insurance Market Research Group (BIMRG), BofA brokerage unit posted $1,792.9 million in investment income in 2008. By investment income, “BIMRG means gross commissions from the sale and servicing of mutual funds and annuities. The sale of individual securities and separately managed accounts are not included in the sums, neither are revenues [...]

California and $4.7B Settlement

On Monday, Wachovia Corp. and Citigroup Inc. have settled with the state of California to return a total of $4.7B to state residents who purchased auction rate securities from these two companies. Regulators pointed out that both companies misrepresented these products as safe, cash-equivalent products, even through in reality these products had huge liquidity risk. [...]

Obama’s Tough Auto Stance May Include Bankruptcy

Obama’s administration gives Automakers another 60 days and sufficient working capital to restructure their companies to reprimand their continued losses. However, if circumstances get worse, Obama’s tough Auto taskforce are looking at options including bankruptcy. Click here for more…

Economic Calandar for 03/31/2009

8:55 Redbook
9:00 S&P/Case-Shiller Home Price Index
9:45 NAPM Chicago Business Barometer
10:00 Consumer Confidence
1:00 PM Fed’s Plosser speaks on regulatory reform
5:00 PM ABC Consumer Confidence Index

What to expect this upcoming week.

Important numbers for investmens outlook.
Tuesday:
*GM and Chrysler – cost cutting plans???
*March Confernece for Board Consumer Confidence Index.
*S&P – January Home Price Index
Wednesday:
*March’s US Auto Sales Reports
*ISM March manufacturing index
*London’s Group of 20 meetings
Thursday:
*Unemployment claims
Friday:
*March IMS service Index
*Employment Reports

G20 and New Currency

Upcoming G20 will definitely make an interesting event to watch. It will show how fast the balance of power is shifting from the old U.S.-led governance to the emerging market nations. One key issue will be increasing pressure on changing and creating new world currency. China and Russia are both pressuring on shift from dollar-dominated [...]

South Park

There will be only one South Park…some many different subjects went through hundreds of episodes I am not suprised to finally see city facing economic issues as the rest of the country.
Click here for some laughs

Simple advise for current investors

Looking at all of the ponzi schemes recently surfaced out, investors must do their research. And double check it.
One of the simplest rules that investors can follow is to review and retain monthly statements, confirmations and all other information related to investment transactions made by their investment advisers.
Question transaction you do not understand or seam [...]

SIPC vs. FDIC

What do they insure: FDIC insures bank deposits, money market accounts and some retirement accounts, where as SIPC insures securities and cash held in the brokerage account.
How much do they protect: FDIC will insure up to $250,000 per depositor, and SIPC insures up to $500,000, of which $100,000 may be cash.
What is not covered: FDIC [...]

The return of the do-it-yourself investors!!!

Look out brokers and advisors, the return of the do-it-yourself investors are coming back to the markets. With portfolios down over 50%, investors believe they couldn’t do any worse than their brokers or advisors have performed. This is a great opportunity for financial professionals to revisit their “recovery plans” for their clients’ and try to [...]

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