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Show HN: Double – Design and invest in your own stock index

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Re: Show HN: Double – Design and invest in your own stock index

#71

Post by jjmaxwell4 »

itake wrote: post #66

how does this work with taxes? When an ETF rebalances, there is no tax impact, but wouldn't there be a tax impact with this tool as you're individually managing the stocks?

Short answer is yes there is a potential tax impact while rebalancing, but this is often a benefit due to the opportunities it presents to tax loss harvest, which we enable on accounts that are sufficiently diversified.

With an ETF there is still a tax impact it's just shifted to the holder of the instrument who gets to decide when to sell or buy.

Re: Show HN: Double – Design and invest in your own stock index

#72

Post by jjmaxwell4 »

dmoy wrote: post #41
TuringNYC wrote: post #37

Earlier quoted context omitted.

>> There is a lot of hesitation to move significant assets from my Charles Schwab brokerage account. I'm incredibly double-minded about this. M1 offers essentially the same service and they do it very well. I've compared M1 vs Fidelity Basket Portfolio (which also offers yet almost the same service.) Here are my takes - M1 is easy to use (mostly, though same super-strange UX choices) - M1 is a pleasure to use - M1 do…

> accounting info is held separately in APEX So the good news is that M1 doesn't use apex for clearing anymore The bad news is that... things got worse? After they swapped to doing clearing in house, they dropped like a month of incoming wires without reaching out at all, until I noticed on my monthly login. Turns out that they had changed the underlying wire instructions (makes sense), but sent an email saying that…

I'd love to earn your business.

Re: Show HN: Double – Design and invest in your own stock index

#73

Post by mNovak »

Am I supposed to be able to side-scroll those categories in /explore? Can't find any way to, and the last card is half cut off. I'm intrigued to explore strategies I'd never thought about, but can only see about 3 cards per category.

This is Brave on Windows.

Would also be nice to know in advance what the price/profit model will be (on the site, I see you've answered it here). I would expect a brokerage to be a long term relationship.

Re: Show HN: Double – Design and invest in your own stock index

#74

Post by SkyPuncher »

daxaxelrod wrote: post #33
jjmaxwell4 wrote: post #16

Earlier quoted context omitted.

Why trust us? 1. We're working with Apex Clearing, a large US Custodian with more than $100B of assets. Your account is in your name there. 2. We're well funded and backed by reputable investors (YC, Matrix, Youtube Cofounder, and many others). 3. We are registered with the SEC as an registered investment advisor. 4. I personally am in the process of transferring nearly my entire net worth onto the platform. We event…

Love 4.

Number 4 makes it sound like a scam to me.

"Don't worry bro, you can trust me" type of vibe.

Re: Show HN: Double – Design and invest in your own stock index

#75

Post by IG_Semmelweiss »

pants2 wrote: post #39
RandomCitizen12 wrote: post #13

Earlier quoted context omitted.

Typically an ETF takes a management fee of 0.1-0.5% of assets per year. I expect this build-your-own-ETF to do the same, with fees on the higher side.

They specifically say no AUM fee.

This can change on a whim and you have no security against it.

For example, Guideline. They charged fixed fees on employer 401k accounts , until they didn't earlier this year.

Re: Show HN: Double – Design and invest in your own stock index

#76

Post by dmoy »

jjmaxwell4 wrote: post #72
dmoy wrote: post #41

Earlier quoted context omitted.

> accounting info is held separately in APEX So the good news is that M1 doesn't use apex for clearing anymore The bad news is that... things got worse? After they swapped to doing clearing in house, they dropped like a month of incoming wires without reaching out at all, until I noticed on my monthly login. Turns out that they had changed the underlying wire instructions (makes sense), but sent an email saying that…

I'd love to earn your business.

The only thing I use M1 for is to automatically purchase a 60/40 split of VTI/VXUS with any available deposits, so if double can do that, then maybe I'll check it out. If y'all are gonna charge a monthly fee down the road though, it's probably not for me.

Re: Show HN: Double – Design and invest in your own stock index

#77

Post by jjmaxwell4 »

myartsev wrote: post #62

Say I wanted to replicate a total market index like VTI. Is that possible?

So right now a Direct Index version of VTI is not live on the site. You want a pretty large account size in order for this type of direct indexing to make sense.

Also right now we only support fractional securities and about 3% of VTI is not currently fractionable by our custodian.

Re: Show HN: Double – Design and invest in your own stock index

#78

Post by jjmaxwell4 »

mNovak wrote: post #73

Am I supposed to be able to side-scroll those categories in /explore? Can't find any way to, and the last card is half cut off. I'm intrigued to explore strategies I'd never thought about, but can only see about 3 cards per category. This is Brave on Windows. Would also be nice to know in advance what the price/profit model will be (on the site, I see you've answered it here). I would expect a brokerage to be a long…

Appreciate all the feedback. Will look into both points.
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