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Money Matters
Financial, Stock, Investment etc. posts here.

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Old 07-11-2011, 12:32 PM   #1
FadeToblack
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merrill lynch is preparing their high net worth clients to convert to all cash....

If Obama can not cut a deal on the whole Debt Ceiling issue.

I have a family member who is pretty well off and has a good amount of money with Merill Lynch. They recently called him and told him this. If the discussions go into the final week they are also suggesting to cash out of 60% of your stocks/bonds and convert it to cash.

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Old 07-11-2011, 12:43 PM   #2
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Buy more gold/silver! The sky's falling!
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Old 07-11-2011, 12:54 PM   #3
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The debt ceiling talks, the only routine discussion of the end of the world that normally intelligent people still give credibility....
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Old 07-12-2011, 09:18 PM   #4
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but if it's cashed out to us dollar, wouldn't that be equally bad?
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Old 07-13-2011, 11:58 AM   #5
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I highly doubt that they are doing this as a company wide policy from their AMG department. They are one of our competitors and they would assume a GIGANTIC liability by having their HNW and UHNW clients do this based off of their opinion. The major players in HNW/UHNW wealth management and Trust Companies do not attempt to time the market and their clients know this. It's about long term, strategic asset allocation......not short term, tactical moves.
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Old 07-13-2011, 12:03 PM   #6
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Quote:
Originally Posted by FadeToblack View Post
If Obama can not cut a deal on the whole Debt Ceiling issue.

I have a family member who is pretty well off and has a good amount of money with Merill Lynch. They recently called him and told him this. If the discussions go into the final week they are also suggesting to cash out of 60% of your stocks/bonds and convert it to cash.

So how many client's do you know for a fact did ML contact?

I hate you so hard. You should be shot in the face for even thinking of making a thread in Money Matters
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Old 07-13-2011, 10:21 PM   #7
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I'd like to see the email on that one.
I don't think it would remain secret for long.
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Old 07-18-2011, 06:47 PM   #8
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Nice recommendation...
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