One of the honcho's at the NYSE, Grace Vogel, executive vice president for member regulation came up with a doozy in today's Wall Street Journal. Her comment was in reference to the record margin debt of $353,000,000,000. Yes, billion.
She was quoted as saying, "I wouldn't necessarily say that leverage equates to risk" and that "We feel that the amount of margin being collected by the firms is appropriate, given the strategies in (their customers) portfolio's."
What goes up, often comes down and leverage works both ways in the stock market.
One of these days Grace the time will come again to take out the canes and buy stock indiscriminately across the board. That time will come when record margin debt is drastically reduced. With market induced reductions.
Native American Advisors, Inc.
- Dean Parisian
- CHIPPEWA PARTNERS is a Registered Investment Advisor and provides investment management to private investors, retirement plans and Native American tribal entities. Founded in 1995 as a fee-only money manager we are about doing the right things the right way and our expertise developed over 25 years balances financial acumen with absolute integrity. Dean Parisian is a former NASD and NYSE arbitrator and very successful trader who started his career on Wall Street in 1982 with Kidder Peabody and then with Drexel Burnham Lambert. The firm is a Life Member of the National Congress of American Indians and adheres to fiduciary standards. As a private, unbiased firm we know what to do and are prepared to do it. We invite your inquiry to manage your assets. ChippewaPartners@aol.com. Office: 877-772-1621 www.chippewapartners.com
Thursday, July 12, 2007
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment