Comments on: Housing and mortgage…random thoughts http://housingbubblecasualty.com/housing-and-mortgagerandom-thoughts/ Mortgage insiders view on mortgages, real estate, debt, and the housing bubble. site by SoCalMtgGuy, author of - Another F@CKED Borrower Wed, 23 Jul 2008 18:40:53 +0000 http://wordpress.org/?v=2.0.5 by: Hotel San Diego Ca Downtown http://housingbubblecasualty.com/housing-and-mortgagerandom-thoughts/#comment-489682 Wed, 10 Oct 2007 09:12:30 +0000 http://housingbubblecasualty.com/housing-and-mortgagerandom-thoughts/#comment-489682 Salutations I was googling and found your blog looking for hotel san diego ca downtown, I thought that this post, random thoughts, was right in line with my own thoughts on the matter. Salutations I was googling and found your blog looking for hotel san diego ca downtown, I thought that this post, random thoughts, was right in line with my own thoughts on the matter.

]]> by: YQZFGDW1 http://housingbubblecasualty.com/housing-and-mortgagerandom-thoughts/#comment-84042 Sat, 06 Jan 2007 08:37:05 +0000 http://housingbubblecasualty.com/housing-and-mortgagerandom-thoughts/#comment-84042 Array Array

]]> by: Teddy Bare http://housingbubblecasualty.com/housing-and-mortgagerandom-thoughts/#comment-1045 Fri, 24 Mar 2006 13:43:07 +0000 http://housingbubblecasualty.com/housing-and-mortgagerandom-thoughts/#comment-1045 There is an ancedote in JPK Kennedy's main biographer (Landis) of Kennedy holded up in a hotel room in NYC trying to save one of his friends losing his shirt on Yellow Cab stock. He successfully manipulated the Yellow Cab stock over a couple days with buy and sell orders and got his friend out of a bad position. No one has been able to trace his tracks in the stock market. He is said to have kept good records, though. Of course, no SEC in existence at the time. Roosevelt appointed him SEC chairman, even though Kennedy wanted Treasury secretary, saying it "takes a thief to catch a thief". There is an ancedote in JPK Kennedy’s main biographer (Landis) of Kennedy holded up in a hotel room in NYC trying to save one of his friends losing his shirt on Yellow Cab stock. He successfully manipulated the Yellow Cab stock over a couple days with buy and sell orders and got his friend out of a bad position.
No one has been able to trace his tracks in the stock market. He is said to have kept good records, though. Of course, no SEC in existence at the time. Roosevelt appointed him SEC chairman, even though Kennedy wanted Treasury secretary, saying it “takes a thief to catch a thief”.

]]> by: AmaDablamDream http://housingbubblecasualty.com/housing-and-mortgagerandom-thoughts/#comment-601 Thu, 23 Feb 2006 02:37:33 +0000 http://housingbubblecasualty.com/housing-and-mortgagerandom-thoughts/#comment-601 I believe the real 'shoe shine boy incident' happened to Bernard Baruch and he mentions it in his autobiography. Although it's not quite a single incident as he was getting stock tips from cab drivers, doormen, barbers, and shoeshine boys, making it clear that there were not many suckers left to sustain the market. The story sounds better as a sudden epiphany rather than an accumulation of facts that finally reached a tipping point. The description of Joe Kennedy's investing is very kind to the sordid reality. Today we can talk about the market not being a level playing field. In the times that Kennedy made his fortune it was crooked, and Kennedy was one of the main crooks on Wallstreet. He made his money as a participant in pools and syndicates that manipulated the prices. The practices used are all illegal today. The correct anecdote about Kennedy and the 1929 crash is that he sold out near the top--much easier to time when you are one the people concientiously pumping the market up in the first place--and when question about selling he quiped, "Only a fool holds out for top dollar." He was far from the careful value investor portrayed above. I believe the real ’shoe shine boy incident’ happened to Bernard Baruch and he mentions it in his autobiography. Although it’s not quite a single incident as he was getting stock tips from cab drivers, doormen, barbers, and shoeshine boys, making it clear that there were not many suckers left to sustain the market. The story sounds better as a sudden epiphany rather than an accumulation of facts that finally reached a tipping point.

The description of Joe Kennedy’s investing is very kind to the sordid reality. Today we can talk about the market not being a level playing field. In the times that Kennedy made his fortune it was crooked, and Kennedy was one of the main crooks on Wallstreet. He made his money as a participant in pools and syndicates that manipulated the prices. The practices used are all illegal today.

The correct anecdote about Kennedy and the 1929 crash is that he sold out near the top–much easier to time when you are one the people concientiously pumping the market up in the first place–and when question about selling he quiped, “Only a fool holds out for top dollar.”

He was far from the careful value investor portrayed above.

]]> by: need 2 leave ca http://housingbubblecasualty.com/housing-and-mortgagerandom-thoughts/#comment-569 Wed, 22 Feb 2006 18:10:35 +0000 http://housingbubblecasualty.com/housing-and-mortgagerandom-thoughts/#comment-569 Salton Sea as the next boom area? That has to be a joke. The place is a $HITHOLE as someone pointed out. If that is the next boom town, then Needles will be right after that. Of course, that may be. All of the foreclosed FBers may be able to get a beat up old trailer and park in the desert there. Oh, we are running out of land. Just thought of that while driving for hundreds of miles of nothing between Barstow and Needles. Barstow (at least it has a small population) is only 60 miles or so from OC, and 35 or so from the IE. Salton Sea as the next boom area? That has to be a joke. The place is a $HITHOLE as someone pointed out. If that is the next boom town, then Needles will be right after that. Of course, that may be. All of the foreclosed FBers may be able to get a beat up old trailer and park in the desert there. Oh, we are running out of land. Just thought of that while driving for hundreds of miles of nothing between Barstow and Needles. Barstow (at least it has a small population) is only 60 miles or so from OC, and 35 or so from the IE.

]]> by: ocrenter http://housingbubblecasualty.com/housing-and-mortgagerandom-thoughts/#comment-550 Wed, 22 Feb 2006 05:41:17 +0000 http://housingbubblecasualty.com/housing-and-mortgagerandom-thoughts/#comment-550 took ziprealty forever today, but finally we are over the 17,000 mark. btw, if you are signed into ziprealty, highlight the entire listing of cities in a given county and move it to the search area, you'll get the total for the county. that's how I can get the total for each individual counties like OC/LA/Riverside. took ziprealty forever today, but finally we are over the 17,000 mark.

btw, if you are signed into ziprealty, highlight the entire listing of cities in a given county and move it to the search area, you’ll get the total for the county. that’s how I can get the total for each individual counties like OC/LA/Riverside.

]]> by: Nikolai http://housingbubblecasualty.com/housing-and-mortgagerandom-thoughts/#comment-549 Wed, 22 Feb 2006 02:49:52 +0000 http://housingbubblecasualty.com/housing-and-mortgagerandom-thoughts/#comment-549 Bubble Butt, I meant that rates were going up, which has been commented on here, is putting a crimp on the housing ATM and cutting into the ability of homeowners making their "margin calls" as we might call the rate adjustments. The reduction in the loose credit will crash some but we'll hardly have a depression. That would take a series of amateur errors by the FED and the government. An alignment of dark stars, if you will, but with the global economy we have lots of astronomers these days, who'll aren't shy about calling pointing out stupidity when they see it. My point was that Joseph Kennedy moved out of the stock market bubble in '29 when he saw things happening that we are seeing today. I'd say the contrary viewpoint would be that when everyone wants to be a homeowner, it might be the time to be out of the real estate market. Bubble Butt,

I meant that rates were going up, which has been commented on here, is putting a crimp on the housing ATM and cutting into the ability of homeowners making their “margin calls” as we might call the rate adjustments.

The reduction in the loose credit will crash some but we’ll hardly have a depression. That would take a series of amateur errors by the FED and the government. An alignment of dark stars, if you will, but with the global economy we have lots of astronomers these days, who’ll aren’t shy about calling pointing out stupidity when they see it.

My point was that Joseph Kennedy moved out of the stock market bubble in ‘29 when he saw things happening that we are seeing today. I’d say the contrary viewpoint would be that when everyone wants to be a homeowner, it might be the time to be out of the real estate market.

]]> by: Bubble Butt http://housingbubblecasualty.com/housing-and-mortgagerandom-thoughts/#comment-548 Wed, 22 Feb 2006 00:27:26 +0000 http://housingbubblecasualty.com/housing-and-mortgagerandom-thoughts/#comment-548 Nikolai: Rates may be going up lately, true, but that hasnt stopped the dollar printing presses either. One major difference between now and then was in 1929 we were on the gold standard. Nikolai:

Rates may be going up lately, true, but that hasnt stopped the dollar printing presses either.

One major difference between now and then was in 1929 we were on the gold standard.

]]> by: Nikolai http://housingbubblecasualty.com/housing-and-mortgagerandom-thoughts/#comment-546 Tue, 21 Feb 2006 22:59:09 +0000 http://housingbubblecasualty.com/housing-and-mortgagerandom-thoughts/#comment-546 "At first, only the "smart" money — the Bernard Baruchs and the Joseph Kennedys who watched things like money supply and other government policies — saw that the party was coming to an end. Baruch actually began selling stocks and buying bonds and gold as early as 1928; Kennedy did likewise, commenting, "only a fool holds out for the top dollar."[6]" http://www.mackinac.org/article.aspx?ID=4024 The FED was raising interest rates to reduce the money supply in 1929. Kennedy saw the money contracting and got the hell out. The Depression happened because the FED didn't know when to stop and drained the economy dry. That along with a rapid shift to the planned economy resulted in 10 years of hell. So, the market bubble popped when the money dried up because interest rates were raised. Anyone seen the rates going up lately? “At first, only the “smart” money — the Bernard Baruchs and the Joseph Kennedys who watched things like money supply and other government policies — saw that the party was coming to an end. Baruch actually began selling stocks and buying bonds and gold as early as 1928; Kennedy did likewise, commenting, “only a fool holds out for the top dollar.”[6]”
http://www.mackinac.org/article.aspx?ID=4024

The FED was raising interest rates to reduce the money supply in 1929. Kennedy saw the money contracting and got the hell out. The Depression happened because the FED didn’t know when to stop and drained the economy dry. That along with a rapid shift to the planned economy resulted in 10 years of hell.

So, the market bubble popped when the money dried up because interest rates were raised. Anyone seen the rates going up lately?

]]> by: cereal http://housingbubblecasualty.com/housing-and-mortgagerandom-thoughts/#comment-545 Tue, 21 Feb 2006 22:38:33 +0000 http://housingbubblecasualty.com/housing-and-mortgagerandom-thoughts/#comment-545 socal - what a trip. i think you're right. the grand total number only appears if you are logged out. that's the one i'm looking for. socal - what a trip. i think you’re right. the grand total number only appears if you are logged out. that’s the one i’m looking for.

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