MDA - Market Direction Analysis

[augieboo]

Nope. I'd say we left a pretty clean table.

I haven't had a chance to look at charts yet this afternoon because I've been investigating TD Waterhouse's latest Farkup in my parents fixed income account.

Get this:

Mom moved a bunch of money from expired CDs into TDW after I determined that their sales fees for bonds are not as bad as most brokerages. I put half the dough into investment grade corp, govt agency, and GSE bonds -- in small amounts scattered across the spectrum -- and left the rest in cash while I figured out whether the next financial apocalypse is coming sooner rather than later. The bonds I picked have been doing great -- they have an average yield of roughly 6.4% and have appreciated by a bit more than that since I bought them 8-10 months ago.

But mom keeps getting calls from TDW offering to "help" her find things to invest that money in. Well, I thought it was clear between us that she was going to ignore them and let me handle it when the time was right.

FAT FARKING CHANCE!

To make a long story shorter, without consulting me mom let these pricks talk her into putting most of that beautiful green cash into three items: The first two items I could live with -- rising rate CDs which start at 4% and go up .5% every two quarters to a max of 6.5%. I figure what the heck, they'll be called within a year and in the meantime I don't have to worry about her doing something really dumb with that money.

Which brings us to item #3 -- Morgan Stanley Capital Trust III 6.25% Capital Securities: Guaranteed by Morgan Stanley is what it says on the cover of the prospectus, (which, naturally, didn't arrive until well after Mom had made the purchase.)

To shorten the story again, after several hours of digging through the fine print and researching on line I finally figured out what this prick sold my terminally ill mother, after assuring her that these securities were just as safe as bonds.

JUNIOR, SUBORDINATED DEBT, FILTERED THROUGH A SHELL-COMPANY, AND SOLD IN THE SECONDARY MARKETS AS COMMON STOCK ON THE OTCBB!

Let's just say I was not please to make this discovery and plan to make my displeasure well known to the farks at TDW. {NG}