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Using the Balance Sheet as an Offensive Weapon
Posted at 10:23 a.m. EST, Dec. 31, 2009

With all of the endless predictions about 2010 — few of which, other than Doug’s, cause me to move my investing needle — it might be worth it to be thinking of who are the haves and who are the have-nots: the haves being those who locked in on these generationally low interest rates.

On a personal note, I have been preaching endlessly that if you haven’t locked in on a mortgage right here right now, the train is pulling out of the station. In full disclosure, I did a big refinancing with a big down payment to be able to lock in 5.125% on a jumbo refi, and I am convinced that my kids will look back and say, “Daddy figured that out OK” — and believe me, it is good to figure out something OK.

I read in Bloomberg this morning that AT&T(T Quote) is taking advantage of the rates to do a mammoth refinancing that will lower costs. We know that many solvent American industrial companies came with deals this quarter, and they will be locking in some cheap money for the ages.

 

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