Stock Loans

Should you take Cramer's advice and quit the Market?

“Whatever money you may need for the next five years,” Jim Cramer told the legions of Cramericans yesterday, “please take it out of the stock market right now.” 

From Agora Financial's 5 minute forecast:

"Mr. There’s always a bull market somewhere” officially checked out of the current market, suggesting that a the current drama could cause “as much as a 20% decrease in the stock market.”

You don't have to run screaming from the market and take losses today because Cramer said to.  You can take a loan against your portfolio to hedge against losses; non-recourse loans mean that if your stock tanks, you can walk away.

I don't recommend making any decision on the emotions we're experiencing now.  Check out your options, take a deep breath, then sleep on it. 

If you'd like a quote on a particular stock, I can give it to you  via e mail.  I'll need:

• symbol
• value
• state of your residence
• whether or not you are associated with the company

I'll get a quote for you as fast as I possibly can.  Loans tend to close in ten days or less, unless they exceed the ten million mark.

S&P Downgrades Lehman, Merrill Lynch, Morgan Stanley

Standard & Poor's rating service lowered the ratings of Lehman Brothers, Merill Lynch, and Morgan Stanley today, with long term ratings going from A+ to A and the short term ratings to A-1. Scary is the reasoning behind the downgrades, "The downgrade primarily reflects our concern that the pace and extent of earnings improvement could be considerably more muted than we previously assumed.”

Uh-oh, are they telling us there may be more to come?  Worse yet, are they telling us their assumptions aren't necessarily good, and therefore, maybe we shouldn't be listening to them anyway??

Draw your own conclusions . . . The release from S&P follows. . . I'm betting we've only begun . . .