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  • chickepoodotcom chickepoodotcom Sep 20, 2010 2:51 PM Flag

    Any Thoughts

    I'm looking to invest some money from my business and was looking for a business friendly bank. A friend recommended opening an account with superior bank. After checking it out, they look like they might fail. Any thoughts?

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    • Not a Good Idea to do so at this critical time....Wait a few more days.. Oct will be the month to jump in fiancials.

    • Hi, Mr. Chickepoodo,

      You did say "invest", right?

      Banks are no specialist in trading debt or equities. What a small to medium sized bank holding company do is set up a brokerage separate from the bank. It simply channel the brokerage client to an established broker such as Pershing. You'd do better go direct IMO. Brokers carry insurance to protect the safety of its clients fund just like banks with FDIC insurance.

      If the funds are more or less permanent, you'd do better by simply pay out in dividends, or salaries, if feasible. If not, you would want to stay with liquid debt instrument. I would consider short term liquid stuff like T-Bill or money market fund that invest in treasuries. I am only speaking from my experience but Mr. Phient is much more qualified in this area.

      Good luck,

    • You should familiarise yourself with the FDIC deposit protection scheme if you have concerns.

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