Buy while its low?

Only if you don’t care about losing all you invest…there is no projected bottom as of yet…times are dark my friend.

I wouldn’t touch bank stocks at this point and keep in mind that some of the major banks in Canada like Scotia or TD or Bank of Montreal do business with the American capital markets and this is not over yet.
This is a good time to stay invested only in cash which is invested in only the best kinds of paper but there is risk even there as you can see with the “BIG” names on the Street going down in flames this weekend.

And if you hear about bank funds being protected by the FDIC that is an arm of the US Government and has nothing to do with Canada. There may be similar depository protections in Canada but I don’t know about that.

SRM

I would be careful. sndfreQ and srmorgan are right – this is likely not the lower limit of this event. Of course I will partially agree that the Canadian financial system is a bit more secure but we are, in the end, at the mercy of that massive ball and chain to the south. The ball is falling but the chain hasn’t reached its full length yet – once it does it’ll pull us down too. If that analogy makes any sense I’m glad.

thanks for the advice. ill wait and see what happens.

I say GO FOR IT.

But then again, it all depends on your situation. If you have a wife and kids, single etc. (are you responsible for anyone at the moment? I said wife, assuming your a guy from ur Name..Zack)

if not, i say F*CK it and GO FOR IT. just think, in 5 years, you might have a CR*P load of $ and never have to work a single day in your life (you just DO what you LOVE)

worse case scenario, you just pay off the LOAN or lose some money…and learn a valuable lesson (don’t listen to a guy named windex on Fluther)

yay!

Sorry for double post, I don’t want to edit my original post since I think THIS one is so IMPORTANT that it deserves it’s own chunk of virtual space

Right now it’s such an incredible opportunity that we will probably NEVER see in our lifetime ever again. I say just risk it all and Put all your eggs in one basket. The return could be HUGE.

Also, obviously keep some $ so you can pay for THE INTERNETS. Then you can come here and tell us about it and we can both laugh.

Please do. If you can pump in enough, say a couple of billion dollars, then you could possibly single handedly help to avoid a global recession. However given that most of the rest of the world wouldn’t touch American banks with a barge pole I wouldn’t.

Also how do you know your bank has no ties to Lehman Bros. Are you privy to every investment decision they make?

If you like the Dow at 10,900 then you will still like it at 7000——remember Nasdaq in 2000? From 5500–1500

those were the days. You could lose a million before breakfast and do it again before lunch.

at least there were many jobs to make all that money back…those were the days…

Unless you are a financial genius (and who amongst us is…..?).....individual stocks of any kind are on the risky side of life. And bank stocks today? Whoa.

Personally I am going to stick w/ mutual funds. Slow and steady wins the race, my friend.

Those with AIG mutual funds are frozen right now. and by the way, I amongst us is…..

Flee the market asap or be very sorry in short order.

@allengreen

I have received two different press releases from AIG Insurance and from Lexington Insurance, a wholly owned subsidiary, informing policyholders that they have sufficient liquidity to cover current and future operations especially in view of what is going to have to be paid out in Texas over the next few months.

Insurance companies are required by State insurance departments to maintain specific amounts of liquid reserves to cover anticipated claims.

If I were up for renewal on these policies I might ask my broker to use a different carrier but for the moment I am keeping my policies with AIG in force.

SRM

I was talking about the mutual funds. They are now frozen and an announcement will be made in the next 7 days as to when investors may liquidate their positions.

The insurance division will continue insurance policies in force, but I was talking about the mutual funds and the insanity in Snoopy’s position to buy mutual funds.

@allengreen You needn’t be insulting.

You have an opinion and are free to posit it—as am I. I am sorry that you and your investments are suffering. If you have made bad financial decisions, perhaps you are not one to be giving advice.

@snoopy, I actually went 100% into gold, last friday at 759….so let me laugh in your face for a moment…..

The serious point I was trying to make, help other’s not make the same mistake you did with your mutual funds, because mutual funds are the largest holders of mortgage backed securities, collateralized debt obligations (mortgage related), and they also own prefered stock in companies like Fannie and Freddie, which were last week wiped out.

Get back to me when you get your statement, and don’t take things so personally. Is it possible that someone other than you has some value in this topic?

@allengreen. It seems, as elsewhere on fluther, that if someone doesn’t think exactly like you do their thoughts or opinions are of little value. Your posts speak for themselves….