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I'm nauseated and I don't own a share. Whats it like to be long?
- Thread starter stock777
- Start date
I got a friend who works as a broker at a Discount Brokerage Firm....2 weeks ago he said their firm had a conference call about how they should handle a a possible "suicidal caller"....
It sounds like a real blood bath for all the retail investors. All the guys that Rolledover their 401k's into self directed IRAs are just losing their shirts. He said, one of these guys (who rolled over his 401k last year, bought about 100k worth of AIG bonds (rated AAA and yielding 7% at the time of purchase)....he was asking for a quote on those bonds a few weeks ago; it took 2 days just to find a bidder and they where trading at 23%/par! 60% of the guys retirment funds went down the tube....And he kept asking the broker, those bonds where triple A when i bought em, is the govt's bailout plan going to help me at all????
It sounds like a real blood bath for all the retail investors. All the guys that Rolledover their 401k's into self directed IRAs are just losing their shirts. He said, one of these guys (who rolled over his 401k last year, bought about 100k worth of AIG bonds (rated AAA and yielding 7% at the time of purchase)....he was asking for a quote on those bonds a few weeks ago; it took 2 days just to find a bidder and they where trading at 23%/par! 60% of the guys retirment funds went down the tube....And he kept asking the broker, those bonds where triple A when i bought em, is the govt's bailout plan going to help me at all????
Well at least he can hold til maturity. With the govt's life support systems intact for AIG, his bonds have a pretty reasonable chance of returning their value over the years.Quote from jsmooth:
It sounds like a real blood bath for all the retail investors. All the guys that Rolledover their 401k's into self directed IRAs are just losing their shirts. He said, one of these guys (who rolled over his 401k last year, bought about 100k worth of AIG bonds (rated AAA and yielding 7% at the time of purchase)....he was asking for a quote on those bonds a few weeks ago; it took 2 days just to find a bidder and they where trading at 23%/par! 60% of the guys retirment funds went down the tube....And he kept asking the broker, those bonds where triple A when i bought em, is the govt's bailout plan going to help me at all????
Quote from jsmooth:
I got a friend who works as a broker at a Discount Brokerage Firm....2 weeks ago he said their firm had a conference call about how they should handle a a possible "suicidal caller"....
It sounds like a real blood bath for all the retail investors. All the guys that Rolledover their 401k's into self directed IRAs are just losing their shirts. He said, one of these guys (who rolled over his 401k last year, bought about 100k worth of AIG bonds (rated AAA and yielding 7% at the time of purchase)....he was asking for a quote on those bonds a few weeks ago; it took 2 days just to find a bidder and they where trading at 23%/par! 60% of the guys retirment funds went down the tube....And he kept asking the broker, those bonds where triple A when i bought em, is the govt's bailout plan going to help me at all????
Smart move for a retirement account putting half of your net worth on 1 bond issue. Bond funds exist for a reason, and this is one of them.
EDITED
shit wrong poster lol
shit wrong poster lol