111–120 of 322 posts
Earlier quoted context omitted.
> bad idea about personal finance Such as?
Good advice: Normal folks should put their money in index funds - not individual stocks and certainly not options.
I started at £120 a month and it was ten years before I started now my minimum buy is £2000 and I only do the occasional single stock even now 20+ years later.
Let's talk about conventional alternatives to this. I've heard good things about Ally bank's 2% saving account. Does anyone here use anything comparable? How about credit unions?
Through all of this I can't help but be reminded of the 2008 financial crisis and think "this is not going to end well." One part of that crisis was Icelandic Banks making a huge push for savings all over the UK and other parts of Europe ("IceSave") with the promise of better interest rates. When it all went belly up those savers realized these Icelandic banks were not quite the same thing as UK banks and Iceland ref…
I remember (but cannot find a citation) in ~2005/6 AIG was offering 4% saving accounts. I'm having deja vu all over again.
It's Bloomberg reporting so they probably got it completely backwards, or made it up, or misunderstood what was told to them. Not saying they're right or wrong, i'm saying Bloomberg is a very unreliable news source, especially in tech.
Just because the company financial news is about has an app doesn't make it "tech". And here they're reporting direct, attributed statements, so it should be easy for you to explain what they "didn't understand".
Let's talk about conventional alternatives to this. I've heard good things about Ally bank's 2% saving account. Does anyone here use anything comparable? How about credit unions?
They also offer a checking account that pays 1.2% with zero fees and even waives ATM fees worldwide. These are all FDIC insured. I've been banking with them for about 6 months now and they're pretty awesome, outside of having a rather janky web and mobile app.
https://radiusbank.com/personal/high-yield-savings/
Radius High-Yield Savings is a free savings account with no monthly maintenance fee, no minimum balance requirement after $100.00 to open the account, and is FDIC-insured up to the maximum allowed. Annual Percentage Yield (APY) accurate as of 12/14/2018. Minimum amount to open account is $100.00. Rate tiers are as follows, 0.00% APY applies to balances of $0.01—$9.99, 0.05% APY applies to the entire balance on balances of $10.00—$2,499.99, 1.50% APY applies to the entire balance on balances of $2,500-$24,999.99, and 2.05% APY applies to the entire balance on balances of $25,000 or more. Rates may change after account is opened. Fees may reduce earnings.
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Yeah. But MMFAs can default in ways that aren't guaranteed by the government. The distinction between zero and near zero matters.
This is an important distinction. When the money marketeer redeems a dollar for less than a dollar it "Breaks the Buck" [0]. Cowen's MM account IIRC was the first one to do that back during the 01 crash. [0] https://www.investopedia.com/terms/b/breaking-the-buck.asp
Earlier quoted context omitted.
Just because the company financial news is about has an app doesn't make it "tech". And here they're reporting direct, attributed statements, so it should be easy for you to explain what they "didn't understand".
I'm not going to waste my time reading anything from this garbage publication. After "The Big Hack" I realized that life was too short to read articles by sources that just make stuff up. If you want to waste your time, be my guest, but I'd rather not.
It's Bloomberg reporting so they probably got it completely backwards, or made it up, or misunderstood what was told to them. Not saying they're right or wrong, i'm saying Bloomberg is a very unreliable news source, especially in tech.
Just because the company financial news is about has an app doesn't make it "tech". And here they're reporting direct, attributed statements, so it should be easy for you to explain what they "didn't understand".
What's "tech" about Uber or AirBnb?
Through all of this I can't help but be reminded of the 2008 financial crisis and think "this is not going to end well." One part of that crisis was Icelandic Banks making a huge push for savings all over the UK and other parts of Europe ("IceSave") with the promise of better interest rates. When it all went belly up those savers realized these Icelandic banks were not quite the same thing as UK banks and Iceland ref…
I remember (but cannot find a citation) in ~2005/6 AIG was offering 4% saving accounts. I'm having deja vu all over again.