500 or bust?
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99.5.......... almost there.....hopefully the retention will be announced on the first post of the 100th page by one of you who is all knowing.......and with GOOD SOURCES....
I just wanted to be the 100th page on this thread. Congrats everyone after 200 pages and 800 different rumors we have absolutely nothing
[quote=Gordon Gekko]Like most people, I have nothing new to add to the topic. I just want to see it at 100 pages.[/quote]
Wait for it …
SB’s deal is no where near 250%. It’s more like 175-200 and going down Jan 30th. Any firm paying big transition packages for declining books in this enviroment will have a really hard time making the investment work.
BTW UBS is still 220% with 140 up front if you do over 50% fee business. But they aren't seriousy looking at anyone that doesn't have 100 million in assets and their deal goes away Mar 31.WFC announces losses tomorrow before the bell. Then they can focus on retention. I hear it will be an accelerated deferred comp and making whole the up front money. Name will be Wells Fargo Advisors. My sources are good.
Ferris- What do you mean by making whole the up front money?[quote=fritz][quote=WSxAG]Fritz,
Strong Balance Sheets, High Cash Balances, and strong product line(s) companies with solid brand identification, sold off indiscriminently during severe downdrafts. What I've done is to build a decent cash position while the markets were climbing to have capital during a downturn. I set price targets that I believe to be so ridiculous that if I could buy them at that price I would. They're out there. Was I up last year - nope, but I was only down about 12% overall.[/quote] 12% not to shabby.. I may have had a shot at even if it were not for the thrashing i took on the fixed income stuff that I moved into early 2008. Saw the bad coming (nowhere near what it turned out to be), but the preferreds and some other stuff hurt . Then there is the money with outside managers like Brandes and the likes which were a bloodbath. [/quote] The -12% was my IRA. I also abandoned Buy and Hold for a good portion of the portfolio and am holding more cash (about 50%) than I ever have. I'm willing to put it to work, but in no hurry. I have my list ready for the next leg (if there is one) When I left AGE two years ago I jettisoned all outside managers, except one, whom I fired after they bought GM and Fannie Mae. I'll never use one again. Currently using a lot of Consumer Staple names (nearly 5% dividend yield on Heinz and off nearly 35% from the high). My clients have fared similarly, actually had a few positives last year. I do use Managed Futures in my allocation portfolios and that helped repair some of the damage.May none of you ultra successful, intelligent, wealthy, prudent WS brokers have to wait another 3.5 month and 100 more pages before getting a straight answer on retention.
WFC announces losses tomorrow before the bell. Then they can focus on retention. I hear it will be an accelerated deferred comp and making whole the up front money. Name will be Wells Fargo Advisors. My sources are good.
Ferris- What do you mean by making whole the up front money?
About 13% of our original up front money has been forgiven. They will cut a check for that amount. If we only get 13%. I think I will be robbing the stage coach.
I just wanted to be part of history and post something on the longest thread EVER!
by paid immediately do you mean vested immediately???
Also heard that there is going to be some kind of settlement announced that they want to stick under the WS name prior to announcing the new name.....and a vote of the board could happen soon on retention.....someone said that was on an RP call from another region. WHO KNOWS!!!Originally posted by MatrixWFC announces losses tomorrow before the bell. Then they can focus on retention. I hear it will be an accelerated deferred comp and making whole the up front money. Name will be Wells Fargo Advisors. My sources are good.
Ferris- What do you mean by making whole the up front money? About 13% of our original up front money has been forgiven. They will cut a check for that amount.
If we only get 13%. I think I will be robbing the stage coach.
Dont forget the deferred comp will be payable immediately too. Thats fine but it is not like they are paying anything extra. That was the old deal to move from AGE to WB. Now they only want to pay 13%/$200,000 to go from WB to WFC. It has been a nightmare to be at WB. I lost way more than that on the restricted stock bonus i got at AGE. It better be a new 75-100% deal because that is what smith barney/ morgan stanley is paying even if you are still under retention with the legg mason/smith barney merger. Come March 17th after the last bonus is paid it the retention bonus is not fair I would guess you will see alot of AGE people jump off the stage coach.
9mm in new assets is right, not 9mm in gross. I wish a few guys in my office would leave so I could pick up some assets....unlikely to happen. Nice fa fa reference.I think FAA FAAA foooey ment 9mm in NEW assets from FA who left
not 9mm gross
"It better be a new 75-100% deal because that is what smith barney/ morgan stanley is paying even if you are still under retention with the legg mason/smith barney merger. "
WHAT? Sorry no retention has been announced at SB. I am hearing 25% -50% and if you are on a previous deal the dollar amount gets reduced by the amount that has not yet been forgiven.[quote=Ferris Bueller] [quote=Matrix]
<TD =BBquote>Originally posted by MatrixWFC announces losses tomorrow before the bell. Then they can focus on retention. I hear it will be an accelerated deferred comp and making whole the up front money. Name will be Wells Fargo Advisors. My sources are good.
Ferris- What do you mean by making whole the up front money? About 13% of our original up front money has been forgiven. They will cut a check for that amount.
If we only get 13%. I think I will be robbing the stage coach.[/quote]
Dont forget the deferred comp will be payable immediately too.[/quote] No Possible way that is for everyone? Is that for AGE guys only? Cant see WS guys getting the forgiven part of their deal back in cash. Have you heard anything about WS brokers and minimum level to see any money?
[quote=fritz]
Prechter is calling for market at 400 and Oil to 10.00 based on his cycle work. Thats the DOW not the S&P. Seems a little low, but based on all his valuation we are overvalued right now by at least double on many measures. Market could rally here and would be almost nothing, but think the way things are shaping up anyone who thinks the next 3000 points is up vs down is going to be in a world of hurt. I think when you throw the psychological damage in with the reality of the economy and the fact that baby boom generation begins retiring in 3-5 years we are only just getting started on the downside. Hope I am wrong believe me, but this buying opp of a lifetime stuff is a joke. We are about at the same level as the S&P 500 was in 2002, does anyone think the economy and financial industry is in the same shape as then?? Dont think there was one house underwater in 2002 in the U.S?
[/quote]Sales and profits for WMT are approximately 3 times higher than they were a year ago, and yet the stock is trading at roughly the same levels.
Get your facts straight.
In 2002 there may not have been many houses that were underwater, but then again real estate was only just emerging from a difficult period that ended a few years prior, and people were just starting to say “I’m going to invest in real estate because you can never lose money in real estate…” I tried to tell them but of course they had it all figured out.
If you really believe what you are saying, I hope you have your clients in double inverse funds, or maybe 10 years treasuries that are paying the handsome rate that starts with a 2.
When I start taking partial profits at Dow 10,000+, I’ll be happy to sell to you and your clients as you scramble to join the party so you don’t “miss out”.
It’s all this silly doomsday “this time it’s different” pablum that has me even more convinced we’re putting in a bottom right in front of your eyes.
Study history, and think for yourself. Stocks that have economic sensitivity OFTEN look EXPENSIVE at a bottom because earnings are at trough levels. Just like homebuilders looked pretty cheap on a P/E basis a couple of years ago, because trailing “E” was at unsustainable bubble levels.