"…Worse than the impact of hedge fund losses, would be the impact of an open market auction of subprime CDOs. “Their true weakness will finally reveal the abyss into which the housing market is about to plummet…”
with that above quote from Peter Schiff and the “Bear Stearns hedge funds collapse” last week…its very very informative to revaualve your real estate game strategy
2-3 WEEK PENALTY - Go back 3 steps and re-evaluate strategy!!!
p.s. the PPT (Plunge Protection TEam) has been working overtime…!!!
my 2 cents
Robert A. Doncaster, Jr.
Import/Export Entrepreneur & Investor
*** DO YOUR HOMEWORK ***
Chicago Illinois USA
& sometimes Salzburg, Austria
Robert,
I agree man, 100%!!!
I’ve been in this business for 20 years, been thru a few cycles, this is NOT GOOD.
The interesting thing about this sub-prime fiasco is NO ONE knows how bad it will get because NO ONE knows where the friggin’ notes are.
These sub prime loans are bundled with regular loans and sold in packages. Bear Stearns just had to add $3.2 BILLION to bail themselves out of their end of it. And the scary part is THEY DON’T know if THAT is enough. Man, talk about ugly! Michael Metz from Oppenhiemer called it an “opened ended black hole” NICE, HUH?
Your right, take a few steps back, look at what your doing, and BE CAREFUL. If the financial markets go, we’re DONE! Right now it’s THE only game left.
Scary times coming. Been there done that, NO THANKS!
thanks petemfa
heres another eye opener,a lot of those so called “rich” infomercial guys/gals (and seminar promoters) will go bankrupt…happens every cycle. lol… the market usually flushes out these folks…it amazing how they dont adapt to the changes,
p.s. i am very experienced in that type of business…my marketing expertise was “get-rich-quick” advertising/seminars etc…i bailed out because the opportunity seekers were lazy (they just didnt get it)!!! not to toot my own horn i was a featured cover story in 3 magazines in 1997-1998 etc lol times have changed!!!
my 2 cents
Robert A. Doncaster, Jr.
Import/Export Entrepreneur & Investor
*** DO YOUR HOMEWORK ***
Chicago Illinois USA
& sometimes Salzburg, Austria
Robert your right on the money!
Watch THIS forum in the next 2 years. Talk about changing??
My guess is twice the number of “HELP ME” posts and half the number of members.
most quasi investors (over the last 7 years of investing in good market)) will be posting here for relief…and other forums,
this market is so exciting,.,.,i live and dream it now,
there are so many good deals if u know where to look…
its all relative,
p.s. the boarded up houses in my neighborghood are amazing,never seen that before in this neighborhood…the banks will be stuck unless some sucker comes along,IMHO the short saleing still wont give u a good deal…unless u can flip to some sucker…my conscience would bother me knowing that property will tank some more…
my 2 cents
Robert A. Doncaster, Jr.
Import/Export Entrepreneur & Investor
*** DO YOUR HOMEWORK ***
Chicago Illinois USA
& sometimes Salzburg, Austria