I don't normally do this, but.....I've had it with Capital One. Yes - that company with the catchy commercials (What's In Your Wallet?). I am writing to tell you that you should NOT have Capital One in your wallet or financing your car. The customer service is outrageously bad and unacceptable. I've had the worst problems with them and want everybody to know that they are not a company worthy of your commitment. If you have a credit card with them - cancel it. If you have an auto loan - refinance it. Stay as far away from Capital One as you possibly can.
Scott Dauenhauer, CFP, MSFP, AIF
949-916-6238
www.meridianwealth.com
Friday, December 28, 2007
Friday, December 21, 2007
Guttentag: Bringing Down The House
Jack Guttentag on how bad this mortgage mess really is and whether or not it rises to the level of the great depression.....he also explains how we did some things right and how it could have been worse.
Scott Dauenhauer
949-916-6238
www.meridianwealth.com
Scott Dauenhauer
949-916-6238
www.meridianwealth.com
Ben Stein: Feeling The Crunch
Ben Stein takes us through what went wrong with the mortgage mess and what the outlook for it is. A short well written, easy to read article that I think you'll find interesting - I especially loved the following excerpt:
"If I were to choose a cartoon to represent the financial events of 2007, it would be the familiar one of Lucy promising Charlie Brown that this time, definitely this time, despite all the lies in the past, she would hold the football firmly in place while he practiced placekicking. Then, of course, she snatches it away and he goes flying onto his backside.
In the case of 2007 and investors, Lucy is, as always, Wall Street. The football is collateralized mortgage obligations, and the placekicking dupe is you and me. But the smart observer is the guy or gal or who knows this crisis won't go on forever, and the time to buy stocks, mutual funds, and ETFs is when everyone is worried -- not when they're chirrupy and happy."
Click the link to keep reading!
Scott Dauenhauer, CFP, MSFP, AIF
"If I were to choose a cartoon to represent the financial events of 2007, it would be the familiar one of Lucy promising Charlie Brown that this time, definitely this time, despite all the lies in the past, she would hold the football firmly in place while he practiced placekicking. Then, of course, she snatches it away and he goes flying onto his backside.
In the case of 2007 and investors, Lucy is, as always, Wall Street. The football is collateralized mortgage obligations, and the placekicking dupe is you and me. But the smart observer is the guy or gal or who knows this crisis won't go on forever, and the time to buy stocks, mutual funds, and ETFs is when everyone is worried -- not when they're chirrupy and happy."
Click the link to keep reading!
Scott Dauenhauer, CFP, MSFP, AIF
Monday, December 17, 2007
The Grinch: Fannie Mae & Freddie Mac
NAHB: Fannie Mae Piling On Fees
As if things weren't already tough enough in the housing market the mortgage purchasing giants Fannie Mae and Freddie Mac are imposing new fees on mortgages they guarantee. This is the absolute worst time they could do this.
Let's think about this for a moment - at a time when housing prices are declining and lending standards are tightening - which means less borrowers to buy houses - we decide to impose yet another obstacle to the home buying process - higher fees (which will translate into higher rates).
Whoever the geniuses are at the quasi-government agencies that came up with this idea should be fired - this will only make things worse for their existing stockpile of loans as the collateral backing them will fall further in value.
Fannie and Fredie are the new Grinches That Stole Christmas.
Scott Dauenhauer, CFP, MSFP, AIF
www.meridianwealth.com
949-916-6238
As if things weren't already tough enough in the housing market the mortgage purchasing giants Fannie Mae and Freddie Mac are imposing new fees on mortgages they guarantee. This is the absolute worst time they could do this.
Let's think about this for a moment - at a time when housing prices are declining and lending standards are tightening - which means less borrowers to buy houses - we decide to impose yet another obstacle to the home buying process - higher fees (which will translate into higher rates).
Whoever the geniuses are at the quasi-government agencies that came up with this idea should be fired - this will only make things worse for their existing stockpile of loans as the collateral backing them will fall further in value.
Fannie and Fredie are the new Grinches That Stole Christmas.
Scott Dauenhauer, CFP, MSFP, AIF
www.meridianwealth.com
949-916-6238
Fed's Mixed Signals Spur Crisis of Confidence (Ahead of the Curve) | SmartMoney.com
Fed's Mixed Signals Spur Crisis of Confidence (Ahead of the Curve) | SmartMoney.com
Donald Luskin once again puts the current happenings of the market in perspective in a fairly easy to read manner. Don is a bit unhappy with Fed Chairman Ben Bernanke's mixed signals and wants the Fed to express confidence (actually look confident!). He is still bullish, though the Federal Reserve isn't helping.
Scott Dauenhauer, CFP, MSFP, AIF
949-916-6238
www.meridianwealth.com
Donald Luskin once again puts the current happenings of the market in perspective in a fairly easy to read manner. Don is a bit unhappy with Fed Chairman Ben Bernanke's mixed signals and wants the Fed to express confidence (actually look confident!). He is still bullish, though the Federal Reserve isn't helping.
Scott Dauenhauer, CFP, MSFP, AIF
949-916-6238
www.meridianwealth.com
Siegel: Outlook for 2008
Jeremy Siegel makes his annual predictions and see stocks with an 8% gain.....my prediction is that stocks will be up, down, or about the same as they started!
Perhaps you think my prediction is weak or comical - it is neither. Predicting the markets, while fun and time consuming is a waste of time as no one can do it correctly on a consistent basis.
I have a fundamental belief that stocks will go up over time and that it is much better to be in them than out of them, other than that - I stay away from predictions.
Having said that, take a gander at Siegel's outlook - it is interesting.
Scott Dauenhauer, CFP, MSFP, AIF
www.meridianwealth.com
949-916-6238
Perhaps you think my prediction is weak or comical - it is neither. Predicting the markets, while fun and time consuming is a waste of time as no one can do it correctly on a consistent basis.
I have a fundamental belief that stocks will go up over time and that it is much better to be in them than out of them, other than that - I stay away from predictions.
Having said that, take a gander at Siegel's outlook - it is interesting.
Scott Dauenhauer, CFP, MSFP, AIF
www.meridianwealth.com
949-916-6238
Friday, December 14, 2007
Guttentag: Will Blemished Borrowers Be Blindsided by Congress?
Interesting and thought provoking article by our good friend Jack Guttentag - bottomline, Congress wants to make the housing bust a depression, we shouldn't let them.
Scott Dauenhauer, CFP, MSFP, AIF
www.meridianwealth.com
949-916-6238
Scott Dauenhauer, CFP, MSFP, AIF
www.meridianwealth.com
949-916-6238
Wednesday, December 05, 2007
The Greenback Isn't a Goner
The Greenback Isn't a Goner
Good column by James Cooper over at BusinessWeek about why the recent decline of the dollar doesn't signal a collapse of the dollar. He also gives it some perspective, for example, did you know the following:
Though the greenback has fallen 24% from its high in 2002 - it was quite high in 2002. The dollar climbed 72% from 1992 - 2002.
The dollar is still 42% abover the 1985 peak when it earned the name "superdollar".
I'm not saying that a falling dollar is good....or bad. Just giving some perspective.
Read Cooper's column.
Scott Dauenhauer, CFP, MSFP, AIF
949-916-6238
Scott@meridianwealth.com
Good column by James Cooper over at BusinessWeek about why the recent decline of the dollar doesn't signal a collapse of the dollar. He also gives it some perspective, for example, did you know the following:
Though the greenback has fallen 24% from its high in 2002 - it was quite high in 2002. The dollar climbed 72% from 1992 - 2002.
The dollar is still 42% abover the 1985 peak when it earned the name "superdollar".
I'm not saying that a falling dollar is good....or bad. Just giving some perspective.
Read Cooper's column.
Scott Dauenhauer, CFP, MSFP, AIF
949-916-6238
Scott@meridianwealth.com
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