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Launch HN: Inri (YC W23) – Wealthfront for Investing in India
71–80 of 105 posts
Re: Launch HN: Inri (YC W23) – Wealthfront for Investing in India
#72Do you help US-based investors with PFIC taxation (see Steps 4 and 5 here)? ( https://www.taxesforexpats.com/guides/passive-foreign-invest... ). This is a huge pain point for US persons investing in foreign mutual funds. This made me liquidate all my ETFs/mutual funds in India and move the money to individual stocks or property. If you can make it easy for NRIs to invest in a basket of individual stocks, a NRI-friend…
Yes, we know about PFIC taxation and help investors with Mark-to-Market Accounting. Further, Inri provides tax support as part of the product offering, thereby abstracting the pain of tax reporting.
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Re: Launch HN: Inri (YC W23) – Wealthfront for Investing in India
#73Re: Launch HN: Inri (YC W23) – Wealthfront for Investing in India
#74Earlier quoted context omitted.
A few comments on this 1. Yes it's true that INR has depreciated vs $. But all of that depreciation has been coming in the zero interest regime we have been in the last decade. If you see the previous decade, INR was flat vs $ and NIFTY also grew more than S&P500. Point here is to say that there are financial cycles and the next cycle is likely going to be different (because of higher interest rates at least in the m…
> INR was flat vs $ and NIFTY also grew more than S&P500 > India is likely to be among the fastest growing economies in the next decade so a good bet for diversification for 5-10% of your wealth. I'm going to ask this in the most laymen way possible...how is it possible that a country that is growing faster than the US depreciates the money value relative to the US by so much? I genuinely believe India has stronger g…
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Re: Launch HN: Inri (YC W23) – Wealthfront for Investing in India
#75This is awesome - exactly the thing I was looking for! Apologies if I missed it but what are the fees for using this service?
We charge a flat 1% advisory fees for all capital invested through us, we have an early bird offer running that waives this off for the first year.
1% is what wealth management groups charge. If you're going to charge that much you should change your marketing
Re: Launch HN: Inri (YC W23) – Wealthfront for Investing in India
#76Would it make sense to offer this to a wider audience? Why limit it to just Indian expats?
It would, unfortunately, the bank account creation requires PAN card (Indian financial identity document) which you cant get if you dont have any ties to India.
Ah! Ok, that's too bad then... Much good luck with the project then, I hope you will succeed with this, I think a mechanism like this one is sorely needed.
Re: Launch HN: Inri (YC W23) – Wealthfront for Investing in India
#77Earlier quoted context omitted.
To add, insider trading and financial misreporting is rampant in Indian stocks. Just look at the recent Hindernberg report on Adani as a starting point. The shocking aspect is that this is accepted as the norm. US stock markets and regulations are not without fault but they are leagues better than stocks in countries like India and China. Oh and to add on to another excellent point you brought up - Indian regulations…
The same Hindernberg, that is banned from doing reports in the US? this seems more like a case of the pot calling the kettle ...
Lol Hindenburg dropped a report on Jack Dorsey's Block, which is a US company just a week ago.
When was Hindenburg "banned" from doing reports in the US? And which agency in the US "blocks" companies from reporting fraud?
Re: Launch HN: Inri (YC W23) – Wealthfront for Investing in India
#78 I understand people not of indian origin can't invest or buy real estate in india?
Re: Launch HN: Inri (YC W23) – Wealthfront for Investing in India
#79Earlier quoted context omitted.
A few comments on this 1. Yes it's true that INR has depreciated vs $. But all of that depreciation has been coming in the zero interest regime we have been in the last decade. If you see the previous decade, INR was flat vs $ and NIFTY also grew more than S&P500. Point here is to say that there are financial cycles and the next cycle is likely going to be different (because of higher interest rates at least in the m…
> INR was flat vs $ and NIFTY also grew more than S&P500 > India is likely to be among the fastest growing economies in the next decade so a good bet for diversification for 5-10% of your wealth. I'm going to ask this in the most laymen way possible...how is it possible that a country that is growing faster than the US depreciates the money value relative to the US by so much? I genuinely believe India has stronger g…
Cause India imports much more than it exports. And the majority of global trade happens in USD which effects demand for USD.
Re: Launch HN: Inri (YC W23) – Wealthfront for Investing in India
#80Since the target is Indian expats, that probably doesn't matter much, but be aware the name INRI has strong religious connotations in the West [1]. [1] https://en.wikipedia.org/wiki/Jesus,_King_of_the_Jews#INRI
It does in India too. With Easter around the corner, I thought of Inri Appam [1][2].
[1] https://en.wikipedia.org/wiki/Inri_appam [2] https://www.youtube.com/results?search_query=inri+appam+east...