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Strategies & Market Trends : Value Investing
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To: E_K_S who wrote (32436)10/13/2008 7:54:43 AM
From: Madharry1 Recommendation  Read Replies (1) of 78748
 
a ex-colleague told me decades ago that he learned from bitter experience not to buy stocks on margin. times like this bring that lesson home yet again. interactive brokers recently announced that on small cap stocks they were moving from 50% buyin margin and 25% maintenance to 100% margin requirement. that no doubt contributed to the free fall. It must be a pretty bad feeling for a billionaire ceo to get margin calls even though he's still got more than enough to live on. I expect we will see a lot of personal bankruptcies and credit card defaults now as these margin calls play out in ordinary peoples lives. People postpone the inevitable by stopping to pay mortgages and taking out all the credit card debt they possibly can. One can now obtain multiyear free financing on consumer goods like tv-s and computers. I expect we will see that on cars before too long if not already.
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