Today I opened daily email from Motgage Daily News www.mortgagenewsdaily.com and clicked on CNBCs www.cnbc.com video report; apparently reporter Becky Quick had just spoke to Warren Buffet about whether or not he might be interested in purchasing Country Wide Financial. The same question was posed by the Wall Street Journal www.wallstreetjournal.com , it's opening line asking What Would Buffett do? Warren says that everything out there right now is speculation. Of course this is exactly the type of thing that makes Warrens pockets fat. Warren is what is called a value investor and this the time for the value investor. He did it with Geico www.geico.com when Geico was going through it's near death experince. What we do know is that Warren has increased his stake in Wells Fargo www.wellsfargobank.com and Bank of America www.bofa.com in California. We also know that people have been wondering what Warrens investment company is going to spend all of it's stock pile of money on.
With that in mind the question being asked is: Who purchased $20 Billion in AAA mortgages from Thornburg for over the weekend?
Capitol One www.CapitolOne.com closing down Green Point www.greenpoint.com today showed people walking out of offices with the contents of their desks in boxes. Jane Wells from CNBC says Capitol One cut 1,900 jobs today. Where did the money go? Al Greenspan once said that liquidity is just another word for confidence.
What, I wonder is happening to the pension funds? There is strong speculation out there that some time in the near future there will be an out cry when some of us go to draw on our hard earned pension and it is not there. The speculation is that this day is literally just around the corner.
These are serious times, with serious consequences, and knowing how to manuver in a market such as this is very important. Some of what is happening is cyclical and can be expected, in fact this is indeed how money flows. The trick is not to get caught in the crush and knowing when and howto get liquid. I have some very smart investor clients who pulled out large sums of cash just before this meltdown began. They are still sitting waiting to see what is going to happen next. The fact is that the real deals are all around us and it is up to us to be educated enough about money and how it works to see it. It is obvious there is a free for all going on for some while others suffer...what's in your wallet?
If you ever doubted that if there are fortunes still to be made listen to what the large movers and shakers are doing, and kno the signs. While there are so many caught in the crush there are still those who have put on their thinking caps, and rolled up their shirt sleeves getting ready for the work opportunity ahead if I have a choice my choice is to take the lemons and make lemonaid. This encourgaement is for those whose heads are spinning from the view of what looks like is in store for us all. There are opportunities within our own failures if we know how to look. Sometimes it takes anothers perspective to see the forest for the trees.
Today I posted a short sale property www.ErsCommercial.com for a couple that I absolutely adore and in speaking with them I could hear the readiness for the ordeal to be over. They have had a long and horrible fight with circumstances way beyond their control. I sat and listened to their story in tears, and of course the first thing I wanted to know was how badly they wanted to keep the house. It turns out, that they are now so far removed from what was then in their lives, that they have started to focus on what is now, the new reinvented future of their lives. So though it is still sad and very difficult - they are begining to focus on what possiblities may be available to them. This is at once exciting, and scary and my heart goes out to them. They have also taught me a big lesson about courage and change. I certainly have been there and I may be there again if my foundation is not strong enough to weather this market. One thing for certain though...I will find my solace in helping others through tough times. Onward with Dignity and Purpose.