December 4, 2011.....Bob Brinker hosted Moneytalk today. It was his last day on KGO810 Radio. He's moving to KSFO 560 in the San Francisco Bay Area. See the link below.
JOBS REPORT...Bob said: "How about that jobs report we just got at the end of the week. Good news on the jobs front and we like good news. And Wall Street likes good news too......In fact, it was really a good jobs report when you consider the fact that jobs were being lost at the federal, state and local level, the government is continuing to shrink of course and as a result the private sector jobs have to overcome that in order to go into positive territory. And they did that so much so that 120,000 net new jobs were added in November......Twenty thousand more government jobs gone, good-bye....so private sector jobs up 140,000 for the month. That's a good number."
STOCK MARKET: Honey EC: Today, Bob didn't make any comments about what the stock market has been doing, except the one reference in the paragraph above. However, he has made no changes in his bullish market outlook and is still forecasting S&P low-to-mid 1400s in 2012 -- as he has for several months now. Bob believes the cyclical bull market that is running concurrently with a secular bear market is still intact, and recommends buying on any weakness near the recent correction lows.
WHEN FED NORMALIZES RATES EXPECT DECLINING VANGUARD GINNIE MAE FUND NAV (VFIIX)....Bob was speaking to caller Ken from Vancouver, who asked about putting a large portion of his money into Ginnie Maes (which are near an all-time-high NAV) now. Bob said: "You have to determine how much interest rate risk you are willing to accept on the Ginnie Mae Fund. It's trading pretty close to its all-time-high, over $11 a share. The reason is because rates have stayed very low because the economy is growing slowly and the Fed has been trying to stimulate economic activity to get more jobs. Even though they've had some success at it, they'd like to have more success than they've already had.....If we get into a situation where the economic growth rate picks up in the future, the Fed decides we don't have to keep rates down near zero anymore, then you could see a normalization of interest rates. Right now they are not normal. If you see a normalization of interest rates, then I believe you would see depreciation in the shares of Ginnie Mae....You're looking at Ginnie Maes trading at $11 a share, you could easily be looking at Ginnie Mae shares trading at ten and a fraction -- easily."
WORKERS DROPPING OUT...Bob said: "Now of course when you get the unemployment we've had for as long as we've had it, you get workers dropping out -- 315,000 dropped out in the month of November and who can blame them. Some of them have been unemployed for a really long time."
ECONOMY/GROSS DOMESTIC PRODUCT GROWTH....Bob said: "So the economic data continues to argue that that slow growth economy that we've been tracking is continuing.....The good news is that so far, the problems in Europe have not spread globally in a material way. Certainly haven't had much impact here in the USA.....We had Gross Domestic Product growth in real terms in the third quarter of 2%. And I'm looking for another positive number in the fourth quarter. I believe the economy will grow again here in this quarter. And when all is said and done, I believe it will come in with a 2011 real growth rate between 1 and 2%. So far, it's about 1.2%, if you annualize the first three quarters."
WHY EUROPEAN UNION CURRENCY DIFFERENT FROM THE USA: Bob said: "There's one difference between the United States and European Union Euro currency 17 countries.....The United States has complete control over it's own currency....That is not the case for any of the 17 European countries that transact in the Euro currency. They have a common currency.....If anybody tells you that the situation in the U.S. is the same as in the European Union, they are pulling your leg.....We need a budget that is as close to balanced as we can get it and no more than 3% annual deficit relative to GDP."
EUROPEAN DEBT CREATES ECONOMIC HEADWINDS....Bob said: "Now there's no doubt about it, the economy still has to deal with the headwinds of the European debt situation that we've seen develop in Greece, Ireland, Portugal, Italy and Spain in particular."
UNEMPLOYMENT....Bob said: "As for the 8.6 unemployment number, it is the lowest figure since March of 2009. That's over 2 1/2 years ago. In fact, unemployment has been above 8% now for 33 months....We have 13 million workers unemployed, an average all-time-high of close to 41 weeks of unemployment. And that's an enormous unemployed labor pool that's out there for companies to interview. That holds down hourly earnings -- down 1/10th of 1% for the month. When you have that many people looking for jobs, you don't have any pressure on wages."
AREAS OF ECONOMIC IMPROVEMENT...Bob said: "On the positive side, companies are taking on more temporary workers and that's usually a precursor for more hiring. We saw new jobs in retail, new jobs in leisure, we saw help-wanted advertising improving, retail sales have improved, auto advertising has risen. And certainly we're seeing some gradual improvement in the bank lending environment. We also have a recent survey of small business which finds hiring intentions at the best level since September of 2008. And that matters because small business employees 50% of the work force in the USA."
UNKNOWN TAX POLICIES.... Bob commented that there is talk in Washington about extending the payroll tax relief, and opined about how ridiculous it is that just 27 days before the end of the year, we are being asked to guess what our tax policies will be. He said, "only in the USA" and blamed it on "dysfunctional congress."
WILL THE 2% PAYROLL TAX RELIEF AFFECT SOCIAL SECURITY? Bob said: "In terms of putting the 110 billion dollars into the economy....the economic principle is sound....to put money into the pockets of consumers at a time when the economy is trying to get on a sustainable recovery.....In terms of taking it away from Social Security, that's not accurate because it will have no effect on Social Security payouts whatsoever. It's going to be made up from the general fund, which involves more borrowing....The government is in huge deficit mode....Because of unified budgeting that came in many moons ago, they can take money out of the general fund to make up any deficiencies in payroll tax collections."
KEYSTONE XL PIPELINE....Again Bob discussed at length how ridiculous it is for the U.S. to import oil from countries that are unreliable and hate us. And he explained that he isn't against solar and wind, but that it only supplies 1% of our energy needs. He emphatically questioned the decision to delay the Keystone XL Pipeline to transport oil from Canada.
Bob said: "When U.S. policy is made in the name of all Americans, then it is the concern of all Americans. When I've looked at the stories in the last couple of weeks, since the president decided to postpone, well, the Interior Department is being credited with this unfortunate decision, but let's face it, this should not be done.....Why are we doing this.....When you look at the whole situation and realize that U.S. policy is discouraging the expansion of pipeline capacity to bring additional oil down from Canada, which instead will be sold to countries like China, you start to ask yourself which side are these people on that are making the decisions. Are they on the side of the USA? I'm not sure, because these decisions are so bizarre, I find them incomprehensible."
Bob Brinker Political Quote of the Day regarding the occupy demonstrators: "I have a theory on the one percenters and the 99 percenters. Here's my theory. The one percenters are the ones squatting in the park. The 99 percenters are the ones going to work. That's the way I look at it, so I guess I'm on a different wave length than the demonstrators."
Bob Brinker Humor of the Day: "That first broadcast, Super Bowl Sunday was the one day to remember in Chicago-land. That was the day that daBears won the Super Bowl, just that one time, and that was our first broadcast. And I can still remember that day because our broadcast starts at 4 o'clock eastern, and back then they started the Super Bowl at 4' o'clock eastern. Subsequently, they've moved it back. Now the Super Bowl kickoff is close to about 6:30 eastern. One story I'm told is that the owners got together in the National Football League and said, 'We can't possibly go up against Moneytalk," and they pushed back the kickoff to the end of the broadcast. Which I think was a very smart idea on their part, but back then, they were right in sync with our program. 1-800-934-2221."
Bob's guest speaker today was Nicholas Wapshott, "Keynes Hayek: The Clash That Defined Modern Economics
BOB'S BIG ANNOUNCEMENT: Bob Brinker's Moneytalk will be moving down the dial next week to KSFO 560 radio station. He will be on in the same time slot at 1-4pm in the San Francisco Bay Area. Here is the link to KSFO560. It is a fabulous station. I listen to it all the time. You can also listen online and podcast...
JOBS REPORT...Bob said: "How about that jobs report we just got at the end of the week. Good news on the jobs front and we like good news. And Wall Street likes good news too......In fact, it was really a good jobs report when you consider the fact that jobs were being lost at the federal, state and local level, the government is continuing to shrink of course and as a result the private sector jobs have to overcome that in order to go into positive territory. And they did that so much so that 120,000 net new jobs were added in November......Twenty thousand more government jobs gone, good-bye....so private sector jobs up 140,000 for the month. That's a good number."
STOCK MARKET: Honey EC: Today, Bob didn't make any comments about what the stock market has been doing, except the one reference in the paragraph above. However, he has made no changes in his bullish market outlook and is still forecasting S&P low-to-mid 1400s in 2012 -- as he has for several months now. Bob believes the cyclical bull market that is running concurrently with a secular bear market is still intact, and recommends buying on any weakness near the recent correction lows.
Here are the Marketimer stock portfolios year-to-date performance (thanks Jeffchristie):INTEREST RATES...Bob said: "If you are worried about the bond market, you can use fully-insured FDIC CDs until rates normalize in here and you won't have any principal risk that way."
Model Portfolio 1 as of December 31, 2010: $278,330
Model Portfolio 1 as of November 30, 2011: $270,779
(Total: -$7,551/ -2.7%)
Model Portfolio II as of December 31, 2010: $230,317
Model Portfolio II as of November 30, 2011: $222,977
(Total: -$7,340/ -3.2%)
WHEN FED NORMALIZES RATES EXPECT DECLINING VANGUARD GINNIE MAE FUND NAV (VFIIX)....Bob was speaking to caller Ken from Vancouver, who asked about putting a large portion of his money into Ginnie Maes (which are near an all-time-high NAV) now. Bob said: "You have to determine how much interest rate risk you are willing to accept on the Ginnie Mae Fund. It's trading pretty close to its all-time-high, over $11 a share. The reason is because rates have stayed very low because the economy is growing slowly and the Fed has been trying to stimulate economic activity to get more jobs. Even though they've had some success at it, they'd like to have more success than they've already had.....If we get into a situation where the economic growth rate picks up in the future, the Fed decides we don't have to keep rates down near zero anymore, then you could see a normalization of interest rates. Right now they are not normal. If you see a normalization of interest rates, then I believe you would see depreciation in the shares of Ginnie Mae....You're looking at Ginnie Maes trading at $11 a share, you could easily be looking at Ginnie Mae shares trading at ten and a fraction -- easily."
WORKERS DROPPING OUT...Bob said: "Now of course when you get the unemployment we've had for as long as we've had it, you get workers dropping out -- 315,000 dropped out in the month of November and who can blame them. Some of them have been unemployed for a really long time."
ECONOMY/GROSS DOMESTIC PRODUCT GROWTH....Bob said: "So the economic data continues to argue that that slow growth economy that we've been tracking is continuing.....The good news is that so far, the problems in Europe have not spread globally in a material way. Certainly haven't had much impact here in the USA.....We had Gross Domestic Product growth in real terms in the third quarter of 2%. And I'm looking for another positive number in the fourth quarter. I believe the economy will grow again here in this quarter. And when all is said and done, I believe it will come in with a 2011 real growth rate between 1 and 2%. So far, it's about 1.2%, if you annualize the first three quarters."
WHY EUROPEAN UNION CURRENCY DIFFERENT FROM THE USA: Bob said: "There's one difference between the United States and European Union Euro currency 17 countries.....The United States has complete control over it's own currency....That is not the case for any of the 17 European countries that transact in the Euro currency. They have a common currency.....If anybody tells you that the situation in the U.S. is the same as in the European Union, they are pulling your leg.....We need a budget that is as close to balanced as we can get it and no more than 3% annual deficit relative to GDP."
EUROPEAN DEBT CREATES ECONOMIC HEADWINDS....Bob said: "Now there's no doubt about it, the economy still has to deal with the headwinds of the European debt situation that we've seen develop in Greece, Ireland, Portugal, Italy and Spain in particular."
UNEMPLOYMENT....Bob said: "As for the 8.6 unemployment number, it is the lowest figure since March of 2009. That's over 2 1/2 years ago. In fact, unemployment has been above 8% now for 33 months....We have 13 million workers unemployed, an average all-time-high of close to 41 weeks of unemployment. And that's an enormous unemployed labor pool that's out there for companies to interview. That holds down hourly earnings -- down 1/10th of 1% for the month. When you have that many people looking for jobs, you don't have any pressure on wages."
AREAS OF ECONOMIC IMPROVEMENT...Bob said: "On the positive side, companies are taking on more temporary workers and that's usually a precursor for more hiring. We saw new jobs in retail, new jobs in leisure, we saw help-wanted advertising improving, retail sales have improved, auto advertising has risen. And certainly we're seeing some gradual improvement in the bank lending environment. We also have a recent survey of small business which finds hiring intentions at the best level since September of 2008. And that matters because small business employees 50% of the work force in the USA."
UNKNOWN TAX POLICIES.... Bob commented that there is talk in Washington about extending the payroll tax relief, and opined about how ridiculous it is that just 27 days before the end of the year, we are being asked to guess what our tax policies will be. He said, "only in the USA" and blamed it on "dysfunctional congress."
WILL THE 2% PAYROLL TAX RELIEF AFFECT SOCIAL SECURITY? Bob said: "In terms of putting the 110 billion dollars into the economy....the economic principle is sound....to put money into the pockets of consumers at a time when the economy is trying to get on a sustainable recovery.....In terms of taking it away from Social Security, that's not accurate because it will have no effect on Social Security payouts whatsoever. It's going to be made up from the general fund, which involves more borrowing....The government is in huge deficit mode....Because of unified budgeting that came in many moons ago, they can take money out of the general fund to make up any deficiencies in payroll tax collections."
Bob said: "When U.S. policy is made in the name of all Americans, then it is the concern of all Americans. When I've looked at the stories in the last couple of weeks, since the president decided to postpone, well, the Interior Department is being credited with this unfortunate decision, but let's face it, this should not be done.....Why are we doing this.....When you look at the whole situation and realize that U.S. policy is discouraging the expansion of pipeline capacity to bring additional oil down from Canada, which instead will be sold to countries like China, you start to ask yourself which side are these people on that are making the decisions. Are they on the side of the USA? I'm not sure, because these decisions are so bizarre, I find them incomprehensible."
Honey EC: This is the first time that I've ever heard Bob bend so far over backwards to keep from saying anything negative about a president. He certainly has complained effusively about President Bush's policies that he didn't like. What's different now?
BE YOUR OWN FINANCIAL MANAGER: Bob Brinker commented that "someone in the family has to do it" and you "know you can trust yourself." Bob said: "For close to 26 years, we have encouraged you to control investment expenses, diversify, allocate your assets properly, pay yourself first.....and empower yourself with the knowledge of investing. There are so many great investment vehicles out there today. Low-cost, no-load funds, exchange-traded-funds, tax privileged accounts, where you can put in pre-tax money for the future.....And how things have evolved since our broadcast commenced in 1986."
Honey EC: I certainly agree with Bob Brinker on that. I know that he has been teaching those principles as long as I have been listening to him -- 1987. It was then that I started down the learning curve and became my own financial manager, thanks to Bob. He made me aware that it's not rocket science and with due diligence anyone can learn the basics. At the time, I was in the grip of a big brokerage house shark.
Bob also teaches how to avoid sharks. I learned that lesson well too. Perhaps if you asked Bob, he would say I learned that lesson too well. Here is a shark attack warning: Be aware that Moneytalk - Marketimer Bob Brinker is not the editor or publisher of the Brinker Fixed Income Advisor, even though the ad was placed to run so that the audience would get the impression that he is.
BE YOUR OWN FINANCIAL MANAGER: Bob Brinker commented that "someone in the family has to do it" and you "know you can trust yourself." Bob said: "For close to 26 years, we have encouraged you to control investment expenses, diversify, allocate your assets properly, pay yourself first.....and empower yourself with the knowledge of investing. There are so many great investment vehicles out there today. Low-cost, no-load funds, exchange-traded-funds, tax privileged accounts, where you can put in pre-tax money for the future.....And how things have evolved since our broadcast commenced in 1986."
Honey EC: I certainly agree with Bob Brinker on that. I know that he has been teaching those principles as long as I have been listening to him -- 1987. It was then that I started down the learning curve and became my own financial manager, thanks to Bob. He made me aware that it's not rocket science and with due diligence anyone can learn the basics. At the time, I was in the grip of a big brokerage house shark.
VARIOUS ESOTERIC CALLER SUBJECTS TODAY: Paying off car loans; declaring bankruptcy; rolling over IRAs; expecting "two young sprouts for the price of one" (twins) and saving for their college fund; getting a divorce and dividing the assets.
Honey EC: I laughed out loud at this. I don't think anyone can disagree with him. :)
Bob Brinker Humor of the Day: "That first broadcast, Super Bowl Sunday was the one day to remember in Chicago-land. That was the day that daBears won the Super Bowl, just that one time, and that was our first broadcast. And I can still remember that day because our broadcast starts at 4 o'clock eastern, and back then they started the Super Bowl at 4' o'clock eastern. Subsequently, they've moved it back. Now the Super Bowl kickoff is close to about 6:30 eastern. One story I'm told is that the owners got together in the National Football League and said, 'We can't possibly go up against Moneytalk," and they pushed back the kickoff to the end of the broadcast. Which I think was a very smart idea on their part, but back then, they were right in sync with our program. 1-800-934-2221."
Bob's guest speaker today was Nicholas Wapshott, "Keynes Hayek: The Clash That Defined Modern Economics
BOB'S BIG ANNOUNCEMENT: Bob Brinker's Moneytalk will be moving down the dial next week to KSFO 560 radio station. He will be on in the same time slot at 1-4pm in the San Francisco Bay Area. Here is the link to KSFO560. It is a fabulous station. I listen to it all the time. You can also listen online and podcast...
82 comments:
Bob Brinker is hosting Moneytalk today and he is on KGO810 Radio
Personally, I think it's a protest sit-in and that he is involved in "Occupy KGO", until he gets booted and flushed to the drain with the rest of the excrement. (Just my learned opinion)
The only listeners that he has left are OccupyTeabaggers and worse. (Again, just my learned opinion, and you are welcome to it)
You can book it and bag it, and I hope this helps Impy, you big groaner..
KGO and KSFO are both owned by Cumulus Media. KGO is the liberal station and KSFO is the conservative station.
They are just moving Brinker's show down the hall in the same building under the same ownership.
KGOer
Well at least Brinker will be totally conservative now...if he knows what's good for him.
aiw
aiw....No offense, but that is an ignorant comment, in my opinion. No offense....
WOW! Interesting Brinker radio station news.. He is moving from a 50K Watt flamethrower station (KGO) to a matchstick 5K Watt station (KSFO).. Kind of a downgrade doncha think?
Lynn may get some interesting phone calls with the switch of stations.
Joey
Honeybee;
Discovered your site when I found out that the KGO format change could affect the Brinker radio show. KSFO will be just fine although the signal is not as strong. Keep up the good work; your summary was spot on for this week's show.
Don G
Honey thanks for the update. I was in vegas last week on vacation and it was very crowded. I did not see any signs of a slow down there. Anyways I sent away for a free monthly newsletter sample and Bob wrote back that you get one free issue when you sign up for a year
and get 13 issued(for about $185) You are right on about the brinker fixed income advisor as that was included in his response with a freee issue and also a request for subscription which leads you to believe it is his service..SHARK ATTACK.. Thanks again for your update I really appreciate it..
Thanks again for the BB play by play. Examiner reports that kgo is retaining his spot:
http://www.examiner.com/headlines-in-san-francisco/kgo-radio-retains-karel-pat-thurston-bob-brinker-john-hamilton-on-weekends
Joey....It will sure be interesting to see if Lynn Jimenez continues to substitute for Bob Brinker after he moves to KSFO.
As you may know, she is the business reporter for KGO, so that seems to be a bit of a conflict. KSFO is not going to appreciate her "advertising" for KGO.
I know they are sister-stations, but that doesn't mean they don't compete for the audience.
Also, Lynn's political leanings, which become more apparent every time she is on, are left of center.
Hi Don G,
Well, something good came out of all this station-change hubbub. Glad you found this blog.:)
John wrote: "I sent away for a free monthly newsletter sample and Bob wrote back that you get one free issue when you sign up for a year
and get 13 issued(for about $185) You are right on about the brinker fixed income advisor as that was included in his response with a freee issue and also a request for subscription which leads you to believe it is his service..SHARK ATTACK.. "
Hi John,
WOW! That is shocking news. Would you send me a copy of that response via email? I'd sure appreciate it. Here is my address:
honeybee.roses@gmail.com
Hi Sivbum,
That article was written on December 3rd and based on the fact that the KGO website had removed Bob Brinker from the program schedule the day before.
Evidently, they published it before Brinker was added back into the schedule as you can see from my posts on that day.
They must have removed Brinker from the schedule and then realized that he would be on yesterday and put him back for the day.
Brinker is no longer on the KGO schedule -- again.
KGOradio.com
"If you see a normalization of interest rates, then I believe you would see depreciation in the shares of Ginnie Mae....You're looking at Ginnie Maes trading at $11 a share, you could easily be looking at Ginnie Mae shares trading at ten and a fraction -- easily."
That doesn't bother me at all because you will get more income as rates go up. If you are a GNMA buy and hold investor that is good news.
You are not supposed to buy fixed income securities for capital gains anyway.
GinneMae
"You are not supposed to buy fixed income securities for capital gains anyway."
Of course you aren't. But you aren't going to be happy losing money either, I'll bet. Yes, you'll get more interest, but you will lose it right back in the price drop.
The market has the chance for a follow-through day within the optimum time period of 4-7 days following the first rally day (but counting the first rally day as day one). This is day 6.
We need about a 200-point rally in the Dow and/or similar percentage gain in one or more of the other major indexes. And we need volume to be greater than the previous trading day, Friday.
It COULD happen, but it's a problem that the market is so overbought, with the Dow's stochastic oscillator reading about 93% (80% is overbought). But it could happen anyway. Just not as likely as it might be if we were below, say, 50%.
I'm still maintaining a slight hedge with a small position in SDS. If we do "follow-throug", I'll remove that hedge. But probably not until.
- Dan G
Among the listener uproar of the recent KGO firings was the outrage that long time hosts were denied a farewell show, as their swift exits were followed by recorded versions of previous shows without audience notification. One commenter claimed such a practice was in violation of FCC regulation
Section 73.1208.
http://www.prss.org/producers-gettingstarted-laws-broadcast_ob.html
See: Identification of Recorded Material
Can anyone here name another radio program that aired previous shows without an "Please don't call. You are listening to a repeat broadcast" announcement?
I can.
"Of course you aren't. But you aren't going to be happy losing money either, I'll bet. Yes, you'll get more interest, but you will lose it right back in the price drop."
I am not a market timer like you are Dan. I buy and hold on to my fixed income investments for income and stability.
Where are you supposed to put your money if you sell your bond portfolio? The bank?
No sir I will just hold and collect higher income. You just ride the interest rate cycle up and down because nobody can predict interest rates.
GinnieMae
My favorite caller Sunday was William from Harrisburg. He said he listens to Bob every Sunday. Later he said he was thinking of filing for bankruptcy. Maybe he should consider retiring in Prescott.
DID KSFO Toss Brinker back?
(fishing reference ... you toss the small ones back)
Hold your horses. When I first heard Brinker was moving to KSFO with one tenth the power, I checked their schedule and he was listed there. Now KSFO is back to showing:
1:00PM 4:00PM Rabbi Daniel Lapin
http://www.ksfo560.com/programschedule.asp
Perhaps they are giving the Rabbi a farewell show or maybe his audience complained and they decided to not go with Brinker. Brinker is probably far too liberal for a conservative talk station's audience too... but they have Adam Bond and Ric Edelman on Saturdays... I don't theik either of them is political so there is precident.
The saga of Brinker searching for an AM station in the SF Bay Area for his informercial continues....
GinnieMae,
There is nothing wrong in buy-and-hold in GinnieMaes. But just don't believe a drop in their price is a bonanza because of higher interest rates paid. The interest rate is higher because of the drop in price, not that the amount paid is more.
There's nothing wrong with buy-and-hold in stocks either as long as you're broadly diversified and maintain a target asset allocation between or among asset classes, occasionally rebalancing.
There is more than one way to skin a cat (sorry Honey, probably a bad phrase for you--sorry!).
I like to time the market with a portion of my money, and as long as it works, I'm likely to coninue doing it. If it doesn't, I'll maintain the buy/hold/asset allocation strategy as described above.
Kirk,
That certainly is strange that KSFO would not have him listed. Surely, he would not have repeated made the announcement if it wasn't a done deal. How embarrassing would that be for him?
I checked Bob Birnker's website and he already has KSFO listed as one of his stations...And KGO is gone.
So here we go again with a big mystery. Maybe someone should call KSFO and ask if Brinker's going to be on.
Birdbrain asked: "
Can anyone here name another radio program that aired previous shows without an "Please don't call. You are listening to a repeat broadcast" announcement? I can."
I can too. Matter of fact, Bob Brinker has had at least a couple of programs over the past year that were spliced-together calls presented as though they were new programs. No disclaimers of any kind.
Anyone who is not very familiar with the program would never have suspected they were listening to carefully chosen reruns.
GinnieMae said:I buy and hold on to my fixed income investments for income and stability.
Where are you supposed to put your money if you sell your bond portfolio? The bank?
I think Brinker's comments were directed at anyone thinking of buying GinnieMae shares, not someone who is holding them. He said many times in the past that the GNMA shares typically trade somewhere around $9.50-$10.50. Due to extraordinary circumstances they are now $11+.
If someone buys them now and they go back to their original range then those people may never get back to even on NAV. If you bought them when they were in that range back then, I think you can hold them and be OK.
Jim said: "I think Brinker's comments were directed at anyone thinking of buying GinnieMae shares, not someone who is holding them."
Jim,
Thank you for your usual absolute clarity about Bob Brinker. It was my mistake not to point out that he was indeed answering caller, Ken from Vancouver, who was thinking of buying Ginnie Maes with a large portion of his investment money.
As I typed out what Brinker said, I felt that the answer could apply also to anyone who had sizable capital gains in the GNMA Fund. But in fact, he was speaking to someone who was thinking of buying near the all-time-high, where the NAV is now.
I have edited the Summary to reflect this point. Thank you again. I always appreciate knowing when anything I write about Brinker is in any way misleading. :)
Another interesting caller Sunday was Allen in Des Moines. He said he was approaching critical mass. Bob ask him what his annual income was. He said between $4 and $500 thousand. Bob said that puts him in the top 1%. I wish he would have came back with yes I am in it with you Bob. I see where Forbes lists your net worth at $25 million.
"I see where Forbes lists your net worth at $25 million."
I didn't even know Forbes lists went down that low. $25 mill must put him toward the back with the Glenn Beck gold advertisements.
GoBeck
I haven't had time to listen to it yet, but for Bill Wattenburg fans, here is a link:
KGO Implodes-MZ Talks With Mark Silverman and Bill Wattenburg
In the link above, Bill Wattenburg talks about the firings.
Neale Godfrey is now a follower of Honeysbuzz. I received the notification just this morning.
She is going to be a guest on Bob Brinker's Moneytalk on December 11th.
"Maybe someone should call KSFO and ask if Brinker's going to be on."
I emailed their webmaster and said they were showing Rabbi Lapin on the schedule. Rob Hunt, their Interactive Ops. Manager for KNBR 680/1050 - KGO - KSFO - KFOG - KSAN, wrote back and said Brinker starts Sunday and they would announce the new lineup soon.
I checked this AM and Rabbi Lapin in on in the Morning and they correctly show Brinker 1-4PM.
http://www.ksfo560.com/programschedule.asp
They still use the 30 year old picture of Brinker http://www.ksfo560.com/sectional.asp?id=26381
Thanks for the update, Kirk...
I was getting seriously worried about Bob Brinker in the SF bay area. :)
Yes, that picture is quite old. He probably gave that to KGO when he started there on "Super Bowl Sunday, 26 years ago." LOL!
Bob's KFSO picture
I'm amazed that while most everyone here seems to generally disagree with Bob Brinker there seems to be a universal interest in ensuring that they will still be able to listen to him. He seems to be the man everyone love to "hate". He probably doesn't mind. Audience is audience. It's something he can bank on. And I'm sure he does.
San Francisco Listener
Anonymous said...
"I see where Forbes lists your net worth at $25 million."
I didn't even know Forbes lists went down that low. $25 mill must put him toward the back with the Glenn Beck gold advertisements.
GoBeck
You make a good point. Brinker is towards the bottom of the barrel when it comes to the Forbes list. Beck OTOH made $34 million last year alone and a net worth of $80 million. Since he invests in gold he has to be way ahead of Brinker for the last five years. Brinker portfolio 1 is up about 4-5% for the last five years while the price of GLD has risen from$63 to $168. I am also sure that Beck's listening audience if far bigger than Brinker's. Beck is a great American success story. Thanks for bringing him up.
"Since he invests in gold he has to be way ahead of Brinker for the last five years."
Beck SELLS gold and a company he pitches is under criminal charges. Nobody knows whether Beck actually invests in gold or not.
"The company, which used radio talk show host Glenn Beck as a pitchman, has seen sales soar in recent years along with the price of gold. In one ad campaign, Beck said Goldline was "a top-notch organization" and in another said it was the "only gold company I recommend and use."
Beck did not respond to an email seeking comment for this story.
http://www.newshounds.us/2011/11/17/criminal_charges_filed_against_the_beckpromoted_goldline.php
Gobeck
CORRECTION!! CORRECTION!!CORRECTION!!
I previously wrote that Neale Godfrey would be a guest on Bob Brinker's Moneytalk next Sunday.
"We were wrong." :)
Neale Godfrey will be THE fill-in host next Sunday.
So it looks like that answers our questions about Lynn Jimenez. She's out!
Neale Godfrey is asking for topic suggestions and questions when she fills in for Brinker next Sunday.
Here's the LINK to her Twitter site.
Off topic, but be sure to take a little time out today to remember that it is December 7, a day that will live in infamy.
I wonder if the news media will mention it, or is it "politically incorrect"?
Bact to the current topic: You mean that the first day Bob will be on the new station, he will take the day off? Yeah, just a "werkin' stiff". HA!
"Here's the LINK to her Twitter site."
Here's another reason I don't "do" Twitter:
"Library of Congress to Receive Archive of Every Tweet Ever Sent Through Twitter
Twitter Donates Billions of Your Tweets To U.S. Government"
"Library of Congress to Receive Archive of Every Tweet Ever Sent Through Twitter
Twitter Donates Billions of Your Tweets To U.S. Government"
Pretty soon there will be a Cabinet level Department of Tweets. Secretary of Twitter right next to the Treasury Secretary.
Twenty-five years from now somebody will retire to a nice pension after a lifetime of reading Tweets.
A Lifetime Twitter Award will be given and there will be a Tweet of The Month who gets a free parking spot.
OMG
And btw, who is Neal Godfrey? Is that Arthur's little girl?
Go Beck
The company that Brinker used to provide managed accounts is also facing legal actions,
January 07, 2010 05:32 PM Eastern Time
NEW YORK--A class action lawsuit against Genworth Financial Wealth Management, Inc. (formerly Genworth Financial Asset Management), Genworth Financial, Inc. (collectively “Genworth”) and an executive officer was commenced by Leeds Morelli & Brown, P.C. in the United States District Court for the Eastern District of New York on behalf of all persons or entities who invested in GFAM’s BJ Group Services Portfolios between December 22, 2003 and December 22, 2009 (the “Class Period”).
The complaint charges Genworth and Gurinder S. Ahluwalia with violations of the Securities Exchange Act of 1934. The complaint alleges that the fraudulent scheme was perpetrated by Defendants through Genworth’s marketing, solicitation, sale and management of the Portfolio. The scheme was facilitated by Defendants, who knowingly, recklessly and/or with intent to deceive disseminated to prospective and current investors materially misleading representations regarding the Portfolio and its “exclusive” management agreement with Robert “Bob” Brinker.
Former listeners of KGO Radio Newstalk 810
https://www.facebook.com/FormerKGOListeners
So it looks like that answers our questions about Lynn Jimenez. She's out!
And good riddance I say.
tfb
So it looks like that answers our questions about Lynn Jimenez. She's out!
And good riddance I say
---------------------------------
Lynn is not out, she is still in her same slot at KGO.
Brinker is out.
KGOr
Someone sent this LINK to the Facebook feed: Former Listeners of KGO Radio
If you are a KGO listener who is upset about how most of the show hosts were treated, it's a good place to commiserate with those who feel the same.
Since Jimenez is out I suggest a tribute that embroiders the things that she has stood for.
I searched high and low to find something that in a few seconds truly conveys the true essence of what Lynn is all about. And then I found it, a simple musical tribute courtesy of SouthPark:
English
It truly conveys the essence of that which Lynn holds most dear.
tfb
TFB...Hilarious....LOL!
anonymous said: "Lynn is not out, she is still in her same slot at KGO."
Anon,
You misunderstood what I meant when I said Lynn "was out." She is evidently out as the appointed fill-in host for Bob Brinker Moneytalk absences.
She may still be the KGO business reporter. I don't know, but she is not going to be broadcasting her leftist leanings on KSFO -- at least, it doesn't look like it.
Neale Godfrey is filling in next Sunday. Personally, I think it's very strange that Brinker would take another day off after being off on Thanksgiving weekend.
After hearing Bob Brinker announce that KGO gave him the gate, I sent an email to Lynn to ask her if she would continue being his guest host. I got a mail delivery error. The address I used was lynnjimenez@kogradio.com. It would be interesting to get her take on Brinker's dismissal by KGO.
lynnjimenez@kogradio.com.
No wonder it bounced back jeff, do you think she works for KOG radio?
Maybe you should call her.
KGOr
Jeffchristie,
I also sent her an email at the address that you posted. It came back non-deliverable, but included a new email address for her.
I sent her a note at this address: lynn.catchings@citcomm.com I asked if she was going to fill in for Bob at KSFO.
I think we know the answer, but I'm hoping she will reply and give us more information.
One has to wonder why her KGO email no longer works if she is still business reporter there. Very odd.
KGOer....Jeff probably made a typo in his comments because here is a copy of the email address that I sent which, as I said, was also not-deliverable!
I COPIED this address directly off of the KGO website!!
From: Honey Rose
To: lynnjimenez@kgoradio.com
Date: Thu, 8 Dec 2011 07:28:56 -0800
Subject: Moneytalk
Hi Lynn,
Are you going to continue to fill in for Bob Brinker after he moves to KSFO?
Best Regards....Honey
"I have a theory on the one percenters and the 99 percenters. Here's my theory. The one percenters are the ones squatting in the park. The 99 percenters are the ones going to work."
I think he STOLE this from me! I've been telling people that from day ONE!
These people are NOT the 99%! They are the 1% Bottom-Of-The-Barrelers whose only job is to disrupt, cause problems, and make a mess of anything they occupy!
I've heard on numerous sources that they've been endorsed by the Democrat, Nazi & Communist parties, not to mention other losers! They DO have a LOT of commonality nowadays though.
To think the Democrat party has the NERVE to make up numerous lies to denegrate the Tea Party
is a complete LAUGH! To even make a comparison to equate them to each other is a COMPLETE LAUGH! They are polar opposites.
If you're NOT one of these type of people, I sure wouldn't associate myself with any of them.
Just the fact that the current administration thinks these "people" are peachy-keen should show anyone that they need to GO, and GO NOW!
Hopefully, next November will solve the problem. If NOT... We are SCREWED!!
How to wrap a cat for Christmas:
Short video
Joe Republic said: "I think he STOLE this from me! I've been telling people that from day ONE!"
Hi Joe,
While I can't recall Bob Brinker ever stealing lines, it's likely that he was not the originator of that one.
So thanks for letting us know who said it first. LOL!
Is it true? No more Lynn?
I'll miss her frosted cupcakes.
"Is it true? No more Lynn?...I'll miss her frosted cupcakes."
No Bird, Lynn is still on KGO doing her usual thing. I've heard her. It's Brinker who is gone.
BTW, you don't really expect an honest reply as to why the personnel shifts happened at KGO do you? Obviously she can't be a fill in for Brinker while she's on a "competing" station.
Lynn's one of the survivors and she would like to keep it that way I think.
KGOr
Now who was it that postulated on day one that Lynn was a bone thrown to KGO by the producers of Moneytalk in an ATTEMPT to keep them from cancelling the show.... time to shave!
BTW, I'm working on a larger article about this change but I found the Cume ratingss used to rank the SF Radio Market for Nov 11:
KCBS 1,214,100 6.3
KGO ___621,100 4.2
KSFO __295,600 2.6
I believe when I first started to pay attention and listen to Brinker in the mid 1990s KGO and KCBS were closer and KGO might have had the larger audience. As it is, Brinker's batch of new ears to sell the idea he can time the market to was more than halved by the demotion.
KIrk,
Thanks for the stats. Do you happen to have the link?
KGOer,
What is it about the Lynn/Brinker discussion that you don't get?
We are not arguing that she has been fired from KGO. WE SIMPLY DON'T KNOW IF SHE WAS OR NOT?
Someone needs to listen to the station for a while and see if she still does the business reports.
The issue is (I'll type slowly) whether or not she lost that yummy gig as the "anointed" replacement for Bob Brinker on NATIONAL RADIO.
I recall that on one of her first programs, she actually told a caller to say that "a national talk show host" had advised him on something. LOL!
"The issue is (I'll type slowly) whether or not she lost that yummy gig as the "anointed" replacement for Bob Brinker on NATIONAL RADIO."
I'm not so sure it was a "yummy gig". I remember conversing with one of his subs (Terry Savage) and she said he paid her NOTHING! I guess he figured it was a privilege just to be selected as a guest host! Free publicity and all that rot!
RE: "KIrk, Thanks for the stats. Do you happen to have the link?"
Yes. It took awhile to get all the info in one place to make sense. Here it is:
Moneytalk with Bob Brinker Demoted from KGO to KSFO for Falling Ratings
We know in the past "someone" has tried to spin these events so I wanted to get all the ducks in line to show it was a clear demotion for poor ratings.
BTW, as a contrarian..... this could mark a near term bottom... and maybe the secular bear market will be over when Cramer's much more popular investing show is cancelled.
Thank you Kirk....I guess I should have been more specific. I just wanted the link to the ratings data.
I can see how you misunderstood me -- but it's okay to post a link to your new article at your Bob Brinker Fan Club site.
I may do a "round up" post on the same subject when all the information is in...
Honey
Back in August Brinker played a canned program of older calls. I sent an email to Lynn asking about it. I used the same email address lynnjimenez@kgoradio.com that I tried to contact her with yesterday. It worked then but doesn't now. Here is a copy of her response back in August.
To: Jeff Christie
From: Lynn Jimenez
Subject: RE: Moneytalk
Date: Tuesday, August 30, 2011 5:36 PM
Goodness, no. I was out of town and didn't listen. I hope all is well. I'll check, and I'll be on Sunday Sept 4th. Thanks for the kind words. L
-----Original Message-----
From: Jeff Christie [mailto:Jeffchristie@comcast.net]
Sent: Tue 8/30/2011 10:16 AM
To: lynnjimenez@kgoradio.com
Subject: Moneytalk
Can you explain why Bob Brinker's Moneytalk was not a live broadcast last Sunday 28 August 2011. Several friends have ask me. They are big fans and enjoy listening to him on KGO.
Will he be on next Sunday or will you be filling in for him? My friends think you do a great job too.
He just can't find it in his heart to discuss the huge losses his portfolios took. Wonder why.
I can see how you misunderstood me -- but it's okay to post a link to your new article at your Bob Brinker Fan Club site.
Since I'm known all over the web for being one of the most STOOPIDIST people on earth, can I misunderstand and post some links to my web sites, and my dead/defunct Gigglie site?
No spin..........just a spreadsheet...............I called the top to within 364 days........blah.....blah.........blah..................BLAH.............BLAH.
Lynn Jimenez is on KGO all day long. She is on right now giving a wrap-up of today's market.
There apparently has been no change in her duties other than she no longer subs for Brinker on another station.
ole
Ole,
Thanks for letting us know that Lynn Jimenez is still KGO's business reporter.
In my opinion, she is an excellent business reporter.
However, it isn't just "on another station" that she isn't substituting for Bob Brinker. It's ALL radio stations.
His show is carried nationally -- although, not on as many stations as it used to be.
Mr. Pig,
LOL!!! My dear Mr. Pig...You may post whatever your cuteness pleases.
I guess our "giggly site" did kinda fade into the woodwork. I blame it on the terrible software that Google provides for their discussion groups. NOONE could figure it out except you and me.
We used it for an archive to save stuff we didn't want deleted for a long while, and even that became unnecessary. But we know that all that good stuff will forever be there -- unless Google cleans house some day. :)
Dan types slowly....
"The issue is (I'll type slowly) ...
The typing is fine, Dan. I just can't read and retain (other than water) that fast.
I always liked Terry Savage. She was clear, concise, and you never had to read between the lines to figure out what she was saying.......or not saying..........or kinda saying.
"I always liked Terry Savage."
Yeah, me too, Mr. Pig. She was smart. And did I mention she was darned cute? Not that that should be important...and yet it IS!
And did I mention she was darned cute?
I am exhibiting rare restraint and not commenting on this, tempting as it may be.
Although I am surprised no accolades were visited on the hottie of this forum: Ms. HoneyBee
tfb
Aww, dear TFB...A man after my heart for sure..... :) :) :)
"Although I am surprised no accolades were visited on the hottie of this forum: Ms. HoneyBee"
Mr. Bunny, the very fact that I'm here speaks volumes about the "hotness" of the hostess of this forum!
Dan,
Yes, and it is much appreciated, but Fluffy needs to know that we came real close to having a wrestling match, but couldn't decide between mud or jello.....or something like that. LOL!!!!
Ah yes, the much touted but never realized mud/jello "wrestling" match!
Well, I'll have you know I've been working out and I'm huge! Some of it is even muscle!
On another note, I covered my short hedge today and so am once again at the mercy of the Wall Street crowd. So far, so good. But the day is young. It ain't over til it's over.
Could be a late-but-better-than-nothing follow-through day. We're getting close on price movement, but need a little more volume.
Bill Wattenburg, who was let go from KGO has landed at KSCO Santa Cruz.
Here is a podcast: Good Morning Monterey Bay, Dec 7th 2011 - Bill Wattenberg Discusses KGO, the Occupy Movement and more, Part 2
"Bill Wattenburg, who was let go from KGO has landed at KSCO Santa Cruz."
KGO's loss is KSCO's gain!
There's a rumor afoot that KGO is changing their call letters to KDUM. It sure fits!
typical right wing response to other thoughts.! censor. your so full of it you are the same that are against any .
change but when it comes about your the first with your hands out DON'T like medicare don't take it! same for soc. YOU'll never stop change . this sight is just as bad as brinker's... wrap your self in the flag it's all phony like all your canidates 4 more years OBAMA 2012 you know it's coming thank god for kieth o and ed s rachel m lawrence o the best thing for america bill o has no more hair hope you enjoy we've got many more coming your way!!!!!!!!!!!!!!!
anonymous said: "typical right wing response to other thoughts.! censor. your so full of it you are the same that are against any .
change but when it comes about your the first with your hands out DON'T like medicare don't take it! same for soc. YOU'll never stop change . this sight is just as bad as brinker's... wrap your self in the flag it's all phony like all your canidates 4 more years OBAMA 2012 you know it's coming thank god for kieth o and ed s rachel m lawrence o the best thing for america bill o has no more hair hope you enjoy we've got many more coming your way!!!!!!!!!!!!!!!"
Anon....Assuming that you graduated from government schools, I wonder if all of your Marxist buddies are as well educated as you...
December 10, 2011 9:18 AM
A shining example of the output of public education!
What a loser.
tfb
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