What happened to the TSX this morning

[audreyh1]

Quote:

Originally Posted by Zathras Getting close Audrey, or are you going to hold out for 10% (I think I am)

According to my spreadsheets, we would need two more days like today to trigger my rebalance!

So I guess equities need to be down about 9% and bonds up 1.2% to cause a rebalance.

Audrey

[shiny]

Quote:

Originally Posted by bpp Shiny rocks.

Gee thanks.

[My Dream]

Quote:

Originally Posted by My Dream Well back to the topic of TSX, it looks like it's down about 418.95 so far today. OSPTX.TO 3:15PM ET 12,985.51 418.95 3.13% 211,332,802

Well, TSX is at 13,786.94 Trade Time: 10:45AM ET Today, that's just over 6% since Feb. 27. If only we knew...... Not bad for just over 2 months.

[Mwsinron]

Quote:

Originally Posted by My Dream Well, TSX is at 13,786.94 Trade Time: 10:45AM ET Today, that's just over 6% since Feb. 27. If only we knew...... Not back for just over 2 months.

I didn't know either. Then again I didn't touch my money either and by dumb luck it went up!

[Brat]

Humm... I purchased DSX March 29 for $17.40, it is now $20.79, for a 19% gain. Hey Brewer... any more great ideas?

[brewer12345]

Quote:

Originally Posted by Brat Humm... I purchased DSX March 29 for $17.40, it is now $20.79, for a 19% gain. Hey Brewer... any more great ideas?

Looking at TONE at the moment. I think I don't want to pay more than $25, though. Still chewing that one over a bit.

[Brat]

With ag going great guns at the moment they don't have the risks of banks with profits based on mortgage lending.

So, why has their stock been weak?

[brewer12345]

Quote:

Originally Posted by Brat With ag going great guns at the moment they don't have the risks of banks with profits based on mortgage lending. So, why has their stock been weak?

They decided that it would be a really great idea in 2004 and 2005 to originate a whole bunch of residential seond/vacation home construction loans in master planned communities in Florida. : You can imagine how well that worked out. So they got spanked by the market when everyone ran away from anyone with RE exposure, since they have had a fair amount of bad loans from that pool. But it appears to be far from a crippling blow, and they seem to be managing down the exposure and the problems pretty well. I will be interested in buying the next time people panic about RE, hopefully getting to buy some at $25 or less.

[Brat]

I dono... maybe because I remember the banking shakeout of the 70s too well. Even good banks like Benjamin Franklin in Portland were wiped out because they 'helped' the FDIC by buying failed bank's papers.

[brewer12345]

Quote:

Originally Posted by Brat I dono... maybe because I remember the banking shakeout of the 70s too well. Even good banks like Benjamin Franklin in Portland were wiped out because they 'helped' the FDIC by buying failed bank's papers.

Not likely to be an issue with TONE. The demutualized in 2002 and raised a ton of capital in the process, which they still have not finished using. Even with their issues they apppear moderately overcapitalized, which in combination with healthy earnings is a pretty good cushion to any future losses. I actually expect they will be an acquisition candidate eventually.