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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host -- Ignore unavailable to you. Want to Upgrade?

To: Midwest_Investor who wrote (41818)	12/30/2008 4:40:48 PM
From: Kirk ©	Respond to of 42834

I have NEVER disputed this. Why make an issue of it? If the callers bonds were called (or will be called on the call date while they sit "prerefunded"), then they are safe and Brinker could have told her this while saying she would have to reinvest the money she gets back at a lower rate. He spun and made it sound like he bought a DIFFERENT bond than he recommended on the radio. Perhaps he sold his CA GO bonds as soon as he smelled trouble then when they were pre-refunded prior to officially being called, he bought them back as a safe place to park the tens of millions he makes each year selling newsletters which is a better taxable rate than ST US Treasuries which pay next to nothing. That would be smart. Not too many in his listening audience have tens of millions in cash to invest. IF you have tens of millions of free cash to invest, then CDs are not really a viable option... but who cares? "prerefunded GO Bonds" are not what he recommended the radio audience buy and you know it. He should have dealt with his advice that didn't turn out so hot.

To: Midwest_Investor who wrote (41818)	12/30/2008 5:32:33 PM
From: gronieel	5 Recommendations Respond to of 42834

"...Once again, they can't call the bonds back until the call date..." Of course the bonds can't be called before the call date MI. It is abundantly clear that Kirk has less than a rudimentary knowledge of the workings of the bond market and had NEVER even heard of a pre-refunded bond until Brinker mentioned it. That doesn't stop him though from posting misinformation all over the web and when I point out his lack of knowledge the accuses me of insulting and attacking him personally. He then categorically claims that HIS recommendations beat Brinker's "recommendation" of CA GOs without one scintilla of evidence. In fact his claim is ludicrous as he has NO IDEA what Brinker recommended. In response to your post Kirk now says he knows that the bond can't be paid before the call date...but that's not what he said recently.... "...BTW, since the state borrowed money at a lower rate to call the bonds on the call date, CA has SAFE CASH that it could use to pay the bond off immediately..."