To: patron_anejo_por_favor who wrote (26156 ) 10/10/2000 12:17:56 AM From: chic_hearne Respond to Re: The best exit strategy, IMO, is to set up wire transfer service from your broker to FDIC insured banks. They max out at 100K/account, so use as many different banks as you need to cover your whole account. You'd need to be nimble in transferring assets, and would probably want to move some of it (in fact most of it) before the real LLCF hits. Sad but true. Once you're in FDIC land, you're fairly safe, but I'd still keep some physical gold locked away just in case things don't work well for a while. Some cold caysh ClownBux might not be a bad idea either (even though they'll be sinking like a stone, a little can't hurt). eventually , it's a big pain in the ass you don't want to deal with. I currently trade 4 accounts, 2 at Suretrade, 1 at Wall Street Access, and 1 at Datek. I figure the best strategy is to have multiple guys to go to. Even if one goes in the crapper, you'll have someone else to try. I'm gonna open a few accounts at the more established brokers over the next few months also.I seriously considered selling my home and renting for the next year or two, both to avoid the remaining debt on the house (which ain't that much at this point) AND to benefit from the inflated values caused by the real estate Bubble. I figured I could buy back dirt-cheap from some distressed Clown after the "gold-rush" was on... I haven't done it, and I hope I don't end up wishing I had.. But your buddies friend got some sage advice, IMO...
