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Hi Guys
cnbc just came out with report..
http://www.cnbc.com/id/100420112
so everything is wonderful again in the world
whew!!! I feel better
I guess we can all move back to the U.S. now :D:D:D:D:D:D:D:D
no seriously Scott what say you with this??
thanks
I’m sure that their purchases of highly prized art, wine, vintage cars, jewels, watches and other collectibles will put many of the unemployed back to work and all will be well in the world.
As for me I think I will pass on going back to the States and stick with the friends I have made among the Ticos.
[quote=”waggoner41″]I’m sure that their purchases of highly prized art, wine, vintage cars, jewels, watches and other collectibles will put many of the unemployed back to work and all will be well in the world.
As for me I think I will pass on going back to the States and stick with the friends I have made among the Ticos.[/quote]
The one issue with the report….created paper wealth….it is just as valuable as the paper it is on. It can go just as fast as it was made.
Notice how now that we have achieved new highs in the markets and the DOW has doubled off it’s Financial Crisis bottom all the “[b]experts[/b]” and “[b]analysts[/b]” are [b]NOW[/b][u][/u] talking up the Bull Market and notice how since that hype has begun we are getting fresh reports of significant new inflows into stock mutual funds. Translation: The [b]STUPID[/b] small retail investor is jumping into the market now……at the [b]TOP[/b].
Secondly, you buy stocks when the economy is [b]growing[/b], unemployment is [b]declining[/b], companies are [b]selling[/b] stuff (versus cutting expenses) and things are [b]looking good[/b]. You [b]DON’T[/b] buy stocks just because bond yields are at or near 0% and you [b]THINK[/b] you might do better in stocks.
Thanks. but I’ll stick with my 5% muni’s.
We’re about to jump into a CD denominated in colones at around 8.5% for a year. I’ve heard that there’s a cooperative in San Ramon paying 12.5% but I have no personal knowledge of that.
[quote=”DavidCMurray”]We’re about to jump into a CD denominated in colones at around 8.5% for a year. I’ve heard that there’s a cooperative in San Ramon paying 12.5% but I have no personal knowledge of that.
[/quote]Does CR have their version of FDIC Insurance on CD’s and other Deposits?
There are two “categories” of banks in Costa Rica, publicly-chartered ones and private ones. The publicly-chartered ones do have government protection for their depositors similar to the protection afforded to depositors in the U.S. by the FDIC. The private banks have no such protection.
The publicly-chartered banks include at least Banco Nacional de Costa Rica, Banco de Costa Rica, Banco Popular, Banco de San Jose, and a couple of others. Private banks include ScotiaBank, Davivienda (formerly HSBC), Citi, and some others.
No bank has failed since the mid-1990s when the government saw to all the depositors’ interests. Whether the government could pay depositors in a future failure is an open question.
[quote=”bogino”]Notice how now that we have achieved new highs in the markets and the DOW has doubled off it’s Financial Crisis bottom all the “[b]experts[/b]” and “[b]analysts[/b]” are [b]NOW[/b][u][/u] talking up the Bull Market and notice how since that hype has begun we are getting fresh reports of significant new inflows into stock mutual funds. Translation: The [b]STUPID[/b] small retail investor is jumping into the market now……at the [b]TOP[/b].
Secondly, you buy stocks when the economy is [b]growing[/b], unemployment is [b]declining[/b], companies are [b]selling[/b] stuff (versus cutting expenses) and things are [b]looking good[/b]. You [b]DON’T[/b] buy stocks just because bond yields are at or near 0% and you [b]THINK[/b] you might do better in stocks.
Thanks. but I’ll stick with my 5% muni’s.[/quote]
That’s the problem with emotional investing and then trying to time the market. ‘They’ should have been in and investing (dollar cost averaging) all along and they would have weathered the rollercoaster just fine. Slow and steady wins the race.
I’m wondering if the web site title “Inside Wealth” has a double meaning, including the one: “you need to be inside to be wealthy”. In my opinion, when it comes to the Stock Market, you’ve got to be an “insider” to ever be wealthy.
I have often wondered, if it is so easy to make money in the stock market, why aren’t all stock brokers wealthy?
[quote=”DavidCMurray”]We’re about to jump into a CD denominated in colones at around 8.5% for a year. I’ve heard that there’s a cooperative in San Ramon paying 12.5% but I have no personal knowledge of that.
[/quote]David, I have a number of friends making 15% plus with bridge loans. These guys have been doing this for years with great success. Also, one of my friends just opened a 6 month CD that is paying 8.25% after tax.
The only bridge loan I could float would be if someone were upgrading their dog house. We’re not talking a whole lot of money here.
Where can you get 8.25% after tax? I’m guessing it’s a Costa Rican financial institution, right? Davivienda’s 8.5% is after Costa Rican taxes are withheld, too.
The service platform guy at Davivienda told me that if we could pull together a larger amount (say $200,000US), they could up the rate. And it wouldn’t have to be all from the same investor. That is, a group could make their deposits at the same time while maintaining their independence.
[quote=”DavidCMurray”]The only bridge loan I could float would be if someone were upgrading their dog house. We’re not talking a whole lot of money here.
Where can you get 8.25% after tax? I’m guessing it’s a Costa Rican financial institution, right? Davivienda’s 8.5% is after Costa Rican taxes are withheld, too.
The service platform guy at Davivienda told me that if we could pull together a larger amount (say $200,000US), they could up the rate. And it wouldn’t have to be all from the same investor. That is, a group could make their deposits at the same time while maintaining their independence.
[/quote]Yes, The 8.25% was at a Costa Rican bank.
I think that you can find smaller bridge loans, say $40,000 and possibly less. You need to find a lawyer that handles these loans. It depends on your risk appetite, but I have good information from very close friends that the process is simple and not much trouble. Some homework is required and all the due diligence should be followed. The rewards are great however and I’m personally liquidating some US assets to do just this.[quote=”jmcbuilder”]I think that you can find smaller bridge loans, say $40,000 and possibly less. [/quote]
Uh, lemme see if I can make this clear . . . If a $40k loan would bridge a used mobile home, I’d be in the gerbil cage market. If I had $40,000, I’d think I had died and gone to heaven (and we all know the likelihood of that happening).
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