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Earlier quoted context omitted.
how times have changed
The Fed giveth, the Fed taketh away.
https://www.federalreserve.gov/monetarypolicy/bst_recenttren...
What is this in the context of the wider market vs other Retail brokers? I don't think this is a knock against RH more a description of what's happening in main-street.
I certainly think it tells us something about RH. You don't see Vanguard or Fidelity losing a third of their userbase in a year.
The strategy worked for the recent years but these investors probably will be the first ones to jump off the boat when things start looking bad.
If Robinhood had to close shop, who's a good broker to transfer holdings over to?
Schwab or Vanguard. Vanguard pioneered the low cost index fund and Schwab was one of the original "discount brokers". Their innovations were adopted by every other broker, driving down costs for the small trader. They remain allies of small investors.
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 Vanguard positions if you get a Vanguard account, but overall its a better idea IMO to get a brokerage account with humans on the telephone whenever issues come up.
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I'm also in E-Trade and they've worked out so far for me.
The one I'm most interested in is probably Fidelity? Good overall reviews, apparently pretty good customer service, and the ETFs / Mutual Funds / Bonds they offer seem pretty good too.
If Robinhood had to close shop, who's a good broker to transfer holdings over to?
Why would anyone trust a financial institution with their money when they have acted like Robinhood as acted? This is a fundamental question.
Stock market has been in a slump all year, crypto down huge. Close to 100k layoffs in tech (according to layoffs.fyi). I think people got other things on their mind than trading stocks/crypto.
Why would anyone trust a financial institution with their money when they have acted like Robinhood as acted? This is a fundamental question.
Stock market has been in a slump all year, crypto down huge. Close to 100k layoffs in tech (according to layoffs.fyi). I think people got other things on their mind than trading stocks/crypto.
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.
Stock market has been in a slump all year, crypto down huge. Close to 100k layoffs in tech (according to layoffs.fyi). I think people got other things on their mind than trading stocks/crypto.
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.
> Rising interest rates helped lift quarterly net interest revenue to $128 million, more than doubling from the same period a year ago. Chief Financial Officer Jason Warnick said the company has about $17 billion in assets that generate interest revenue. While Robinhood used to pay a competitive interest rate for cash in the account, it is now 1.5% while Fed risk-free rate is now 3.75%+. You need to pay for Gold subs…
Yep. My local credit union is offering 4.5% on an 18 month > $1,000 CD.