Official Investing Thread

Discussion in 'The Mainboard' started by Joe Louis, Jul 12, 2010.

  1. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
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    Pretty confident Bill Perkins launders Bilzerian’s dirty money.
     
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  2. Sam Elliott

    Sam Elliott Job title: Assistant Bouncer at the Double Deuce
    Florida State SeminolesChicago BullsGreen Bay PackersTampa Bay LightningManchester United

    Bought some FSPGX the other day, any good index funds to look at for 2024?
     
  3. Ralph

    Ralph Well-Known Member
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    Wasn't sure where to put this, but Wayfair seems like a great company to work for:


    A month ago:
     
  4. beist

    beist Hyperbolist
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    nm. decided I don't want to make that joke.
     
  5. Jimmy the Saint

    Jimmy the Saint The future is a benevolent black hole
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    Nothing would motivate me to work harder than a memo asking me to work harder.
     
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  6. construxboy

    construxboy xenForo is the new TMB
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    Work smarter, not harder
     
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  7. NothingIsOT

    NothingIsOT Prom pic
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    Announce a 5 day a week return to office with tracked attendance. You won’t even need to cut heads. Seems much simpler.
     
  8. momux

    momux AFAM Scholar
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    that’s me
    IMG_1239.jpeg
     
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  9. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

  10. DollarBillHokie

    DollarBillHokie Usher is the worst
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    That only works if you don’t care which employees stay or go.
     
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  11. Bruce Wayne

    Bruce Wayne Billionaire Playboy
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    My CPA is useless so I cannot wait for this to be available to me
     
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  12. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    robinhood is doing 3% max to ira rollovers with 5 year commitment

    tell me why i shouldn't do this
     
  13. aussie footy

    aussie footy From Australia
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    Seems like a good deal if you’re an ETF investor. You have to be a Gold member which costs $60 a year. The only gotcha would be if they raise those subscription fees over the years.
     
  14. momux

    momux AFAM Scholar
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    It's only 3% match on the contribution, not the basis you transfer over right? So you're trusting a notoriously crappy broker who may or may not be solvent in 5 years for approximately $1000 over five years?
     
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  15. Ralph

    Ralph Well-Known Member
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    Seems kinda crazy, but no, it's on the whole transfer and you get it right away, according to the fine print:
    https://robinhood.com/us/en/about/retirement/
     
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  16. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    Whole transfer

    But yeah them being a flunky company is giving me pause
     
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  17. Sportfan

    Sportfan From Six to Dumptime
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    I’d be super leery about it unless the accounts are insured beyond doubt.
     
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  18. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    They're insured to 500k

    But when is the last time someone lost a brokerage account?

    To be clear I'm far too scared to do it as I'm incredibly conservative investing.
     
  19. momux

    momux AFAM Scholar
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    Read more of the FAQ (but not the full scale ToS) and that appears correct. I'm still not going to touch it but I think that's real money on the table if you trust them to be solvent.
     
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  20. momux

    momux AFAM Scholar
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    It's only insured up to the initial basis I believe. SIPC rather than FDIC.

    Edit to add that I need to do more research on this before I give any sort of real opinion.
     
  21. Tug

    Tug Well-Known Member
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    Why do we not trust Robinhood?
     
  22. FrankReynolds

    FrankReynolds Go Blue
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    This isn't crypto, brokerage just holds the securities on your behalf. If they go belly up you don't lose your securities
     
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  23. lunchbox

    lunchbox ...
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    I’m using 5 percent APY with gold with Robinhood, FDIC insured, seems to be legit. I like rolling some money into it every month
     
  24. Det. Frank Bullitt

    Det. Frank Bullitt God Bless Texas
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    market manipulation.
     
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  25. momux

    momux AFAM Scholar
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    In general they have horrible risk management practices and have the worst market fills of any major company.
     
  26. DollarBillHokie

    DollarBillHokie Usher is the worst
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    https://en.m.wikipedia.org/wiki/MF_Global
     
  27. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    This is why we keep you money nerds around

    But also it seems like the vast majority if not all were made whole?

    I know it took time though which isn't great
     
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  28. DollarBillHokie

    DollarBillHokie Usher is the worst
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    Virginia Tech HokiesTiger Woods

    Lots of places had to shut down as a result of not having any money for a while.

    Separately, we just had an instance where a bunch of idiot tech bros yanked all their money out of an institution they loved causing it to fail. Do you want your money tied up for X years while some Reddit GameStop kids all do something similar? 3% is minuscule compared to the stress of “am I going to lose my life savings” will be if any of the downsides happen while you wait to be made whole.
     
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  29. Doc Louis

    Doc Louis Well-Known Member
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    Bringing them up to 5,020 employees laid off since 2022. Great company. Probably one of the most beloved in Boston, by people who like terrible companies.
     
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  30. DuffandMuff

    DuffandMuff Well-Known Member
    Tampa Bay LightningSan Diego Padres

    Robinhood could go under but all accounts would not be impacted since positions should be held in omnibus accounts at DTCC.

    SIPC insures up to $500k per account type in the instance a brokerage goes insolvent AND customer funds are missing.
     
    #30780 DuffandMuff, Jan 22, 2024
    Last edited: Jan 22, 2024
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  31. Tug

    Tug Well-Known Member
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    I like Robinhood because it’s easy to use and I am not likely ever going to have up to an insurance level in it
     
  32. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    I'm not a business but I get your point obviously
     
  33. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    It's for ira s anyhow, I'm not touching it for decades
     
  34. DollarBillHokie

    DollarBillHokie Usher is the worst
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    I just pointed out an instance where a broker run by the former governor and senator of New Jersey co-mingled funds. But feel free to take your 3% one time benefit if you think it is worth it.
     
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  35. DuffandMuff

    DuffandMuff Well-Known Member
    Tampa Bay LightningSan Diego Padres

    Then you would look to SIPC to reimburse you for up to $500k per account type during the liquidation process. Gotta make sure robinhood is in good standing with SIPC.
     
  36. momux

    momux AFAM Scholar
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  37. momux

    momux AFAM Scholar
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    Long and short of the above video is RH is a clown organization and certainly not something I'd trust to hold even a semi material amount of wealth.

    caveat: I am in the banking industry and have a vested interest in maintaining status quo.
     
  38. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    finbros hate fintech news at 11
     
  39. momux

    momux AFAM Scholar
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    I get it, but do you get it?

    Long and short of it is if any large bank could cut out 90% of its regulatory workforce and create a solely digital platform they could offer all kinds of incentives. But I don't think that would be in the best interest of the consumer. To be honest RH has stuck around and maybe managed their risk better. If you believe that, then I've got a great DET +7 line to sell you.
     
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  40. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    im just busting balls

    but i do not think the criticisms of RH hold much water from anyone in the banking industry (even valid ones), notoriously play by the rules and look out for the consumer industry
     
  41. momux

    momux AFAM Scholar
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    And I don't believe vaccine opinions hold much water from anyone in the medical industry. (see how two can play at a dumb game like this)
     
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  42. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    is there some nasty history with vaccines and pharma I'm unaware of?
     
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  43. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    guys, i might like our defensive tradfi guys better than the fintech realm but yall still in the field of conning people out of their money. its ok thats what most jobs are, tradfi just got some crazy body counts by their fuck ups.
     
  44. momux

    momux AFAM Scholar
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    lol I liked this because I thought it was satire. is it not?
     
  45. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    has there been some recent vaccine problems?
     
  46. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    guess i might compare the impressive vaccine production to how the fed has handled the covid shocks, but this is a recent trend of the finance folks doing good things
     
  47. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    yes financialization and privatization of healthcare in the US was a giant mistake and banks are intimately involved with all of it

    i feel like you're just throwing shit around cause you got in your feels by what to me is justified skepticism around everything in finance but our lord and savior bogle
     
  48. colonel_forbin

    colonel_forbin Well-Known Member
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    Signed,
    Branch Manager at Wells Fargo
     
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  49. infected donkey

    infected donkey Arkansas Razorbacks
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    Keep going, I'm almost there!:tmbtailgate: