My Schedule…and A Little Extra: I was the first one to the office which was typical. I turned on my computer and realized instantly that something was wrong. I clicked to CNN.com and literally thought to myself, “is it April Fool’s Day? No, oh my G-d!” I ran to another room where we had a TV and flipped the switch…slowly I backed away and instinctively found a seat…eyes and mouth wide open…. The next office dweller dashed in and said, “did you see…?” “Yes, I have it on the TV,” I interrupted. He sat down, in slow motion, and watched in silence. One by one the employees of our small business walked in and slowly sat down…as the first one to see what was happening that morning I filled them in, blow by blow…the first plane hitting the first tower, the speculation, then the second plane. And then, we all watched together as the first tower collapsed. I remember the gasp. My best friend was on his cell phone the whole time trying to reach his brother who was in Manhattan…of course the cell lines were busy. When it was “done,” our CEO announced that the work day was cancelled. He told us to go home, try to explain what happened to our kids and ourselves, and heal. I remember vividly what happened that day and I wasn’t there…I didn’t witness it first-hand. Most of us know someone or someone who know someone who was there, or maybe someone who died. This morning I spoke to one of my favorite brokers who told me he knew one of the brave men on the plane that worked together to take over the cockpit. As I explain to my children, yes, there are bad people out there and it’s impossible to even try and understand what goes through their heads. But there are more good people in the world…we must challenge heartless, baseless hatred by being brave, thoughtful, and kind…listen to your gut and act from your heart. It was a confusing time…one of anger, sadness, and strangely patriotic. Do you remember Whitney Houston’s performance of the Star Spangled Banner? Watch it, it’ll make you tear-up. Whitney Houston sings the Star Spangled Banner.
My Market Watch: Rates are worse today by about 0.250. Many asked me yesterday about the G-Fee…did it go into effect? I really don’t know. Capital Markets has been silent on the issue. I was warned the G-Fee was going into affect and was told that yesterday was the day. Maybe Capital Markets included the G-Fee but decided to just price it in and stay flat. Or, maybe today’s prices reflect the increase. I’m not sure and it’s pretty clear I won’t find out. Suffice it to say, anyone locking over the weekend or yesterday is better off than today. | I’m reading a lot about how the banking industry would change if Romney is elected or if Obama is re-elected…I’d be interested to hear your thoughts on this subject. My Disclaimer
My Schedule: Working from home this morning and then out around noon. As a general rule, I do not answer my phone before 10a to allow me enough time to research the market and respond to trailing emails. If it’s urgent, text me at (619) 549-9797.