121–130 of 174 posts
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They could have frozen trades in both directions.
Blocking selling is a good way to get sued, so brokerages are very hesitant to do it. If the price drops the trader can claim they wanted to sell and are owed the difference. Blocking buying doesn’t have this issue since you can’t sue for theoretical gains.
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I've had stocks go all the way to zero.
And crypto go all the way to zero. I'm not sure what your point is. Companies can go bankrupt. So can coins. That's neither here nor there.
See the bit about the "floor" in your post.
If Robinhood had to close shop, who's a good broker to transfer holdings over to?
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Ironically, it's probably best to buy stocks and crypto when they are in valleys like this rather than at peaks. The unemployment rate is still only 3.5% in the US, so anyone getting laid off is being hired back almost immediately with very little slack. The Fed would actually prefer to see higher unemployment around 6% to better manage inflation so they'll keep interest rates high until they see that happen.
> Ironically, it's probably best to buy stocks and crypto when they are in valleys like this rather than at peaks. Is this actually a "valley" though? I'm not sure about that. It could be the worst of this recession is yet to come for both types of assets. Buying at the bottom is a great idea, but the hard part is knowing where the bottom actually is.
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And did they hold a couple more years? Or for some reason they sold at bottom after averaging down?
Most dot-com stocks went to 0. There's a famous "99 percent club" of stocks that became wallpaper.
I think even if 99% of the purchases went to zero, you'd probably still be ahead if you're diversified properly.
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Vanguard's got excellent funds and ETFs, but they're legendary in terms of having some of the worst customer support for their brokerage account. Schwab/TD Ameritrade on the other hand, has kinda bad ETFs but have really good customer service. Besides, you can buy Vanguard ETFs / Mutual Funds in your Schwab account. Go for customer service. There's some minor benefits in terms of how quickly you can enter / exit Vang…
I tried to set up an online account with Vanguard recently. At the end of the signup flow, I got an error saying I had to phone it. It was a weekend so I tried a couple days later during business hours just to be sure and because I loathe dealing with human beings for stuff that should be able to be handled by a website. Same result. So I phoned in, spent a half-hour with a human being. He was audibly cursing as he t…
Plus, I have my own story about Robinhood - they couldn't or wouldn't change my email address. I think they expect users to upload pictures of ID and such.
That's crazy and completely disqualifies them for anything serious, for me.
If something is really important, then you do it in person, with a local representative or notary or something.
If it's not that important, then they don't need ID theft material in digital format. They already leaked the info they have!
It is not a feature to have the ability to make critical changes without friction from anywhere in the world over the internet, with the right bitstream. It's completely unacceptable.
My entire relationship with Robinhood involves a trivial amount of crypto that I don't trade, on the assumption they are the (one of the) most government compliant or least shady ways to hold that. That is based on my outlook being the complete opposite of the cliché "not your keys, not your coins".
Other than my "free stock" I don't own any non-crypto and never will.
Confirming my negative attitude was their recent data breach, which we will never know for sure the scope of, but I suddenly started getting investment scam spam from known scofflaws at the email address Robinhood has and probably leaked.
The SEC has a "catch and release" program for even small-timers; it sure is a disincentive to report criminal activity when you see in the public record someone already was caught and paid a fine and kept right on keeping on.
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The floor of dollars is the might of the US military. If you haven’t noticed it’s prettttty strong these days.
I keep hearing this repeated, but the link between military and the strength of the dollar is tenuous at best.
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The floor of dollars is the might of the US military. If you haven’t noticed it’s prettttty strong these days.
The military has the power to stop hyperinflation?
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The Fed giveth, the Fed taketh away.
well, not too much. The balance sheet is still within 97.5% of its all time high. I would like to see a good model of Fed Funds X and Balance Sheet Y = Z amount of stimulus. https://www.federalreserve.gov/monetarypolicy/bst_recenttren...
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Ironically, it's probably best to buy stocks and crypto when they are in valleys like this rather than at peaks. The unemployment rate is still only 3.5% in the US, so anyone getting laid off is being hired back almost immediately with very little slack. The Fed would actually prefer to see higher unemployment around 6% to better manage inflation so they'll keep interest rates high until they see that happen.
Dow is 10% higher than pre-lockdowns Feb 2020 and I hear at least since 2017 that stocks are overvalued.