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Strategies & Market Trends : Value Investing
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To: - with a K who wrote (18748)2/27/2004 1:23:11 AM
From: LauA  Read Replies (3) of 78742
 
I've had a recent difficulties with lots of cash from stock sales, but no good ideas for stock purchases. I've been opening 2% FDIC insured savings accounts. Recently, I paid off the mortgage on my house. My rationale was that it's the equivalent of purchasing a high quality bond currently yielding 6% with a coupon that floats with inflation (I had an old adjustable.) If I need future leverage, I can use margin, or just set up a home equity line of credit.

I came to that solution after discussing a refi with my 'innovative' WaMu banker. He wanted to charge the same fees as if I were a new John just coming through the door, despite the fact that he had held my mortgage for 20 years. He had no interest in keeping a longtime, problem-free customer. (I gather that WaMu has a reputation for customer indifference. I don't know what that means for their bottom line, but in a commodity business, holding clients may be important.)
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