Well fuck it. I'm canceling the account and going back to Ally. After two pay periods of failed direct deposit attempts to HMBradley I'm giving up. That 3% would've been nice.
It's riskier as it's not FDIC insured, but I'm currently getting 8.6% on Blockfi. Transferred over my money that was in a CIT Bank HYSA which had dropped from over 2% to well under 1% in the last year.
I'm also using blockfi but it's a pain in the ass because my credit union doesn't use PLAID. So I need to write checks to myself and mobile deposit in an old account to move to blockfi
You trade your cash for crypto that is pegged at $1, they use that to lend and provide liquidity to be able to pay you that. 8.6% is their interest on stablecoins, BTC and ETH are 5-6%.
Still confused here. I’m making a “guaranteed” (not FDIc) 8%, what is the bank doing to make money? Traditional BofA, they’re giving me 1% BofA lends out my money at 3% for someone’s home and make the spread of 2%. I’m assuming this blockfi bank is using my cash as collateral to people buying Bitcoin on credit? If Bitcoin goes to shit, the one lending and the one taking get caught holding the bag. The blockfi just takes the spread they’ve made, and closes up shop?
They make their money off collateralized loans, just like a normal bank. IF BTC goes to shit, they just liquidate the collateral as needed. https://help.blockfi.com/hc/en-us/a...e-risks-with-depositing-my-crypto-at-BlockFi- Personally, this list of investors makes me feel pretty good about it not going tits up, even in a potential crypto crash https://blockfi.com/investors/
Yes, 50% minimum Loan to Collateral ratio at origination, and they incentivize with lower interest rates to have more collateral. I'm sure institutional borrowers don't have quite the same requirements. They will liquidate your crypto if you hit 70% and don't put up more collateral.
Right. I mean it sounds too good to be true first blush. I understand the skepticism but not sure what else they could do.
The ~40% I'm getting with stables on curve is too good to be true, Blockfi is just where it waits until I have enough for it to be worth the gas.
I Bonds increase to 3.54% on May 3rd https://tipswatch.com/2021/04/15/i-bond-dilemma-buy-in-april-buy-in-may-or-wait-until-later/ https://www.treasurydirect.gov/indiv/products/prod_ibonds_glance.htm
Zero chance it gets out of committee. Maybe at 25% it gets to the floor with a bunch of loopholes. ETA: Democrats and their donors are rich too.
Wanting to open a brokerage account. I have a 401k through my employer but wanting to get into more direct trading. Looking for some recommendations for the best online broker for a beginner. I've looked over NerdWallet but wanted to see what some of what was suggested here. I don't know if I'm going to be going with direct stock trading, mutual funds, ETFs, or whatever. Would preferably like to go with a broker that does all of these and I can have it all centralized. Maybe they all do this lol.
I use Schwab for everything but high-yield savings. Easy to keep everything in one place if you want to do an IRA or Roth IRA as well. Just don't use Robinhood.
My prior employer's 401k was done through them so I'm at least familiar with the interface. Any cons that you've come across?
You can’t really go wrong with Fidelity or Schwab. I think a lot of people use TD Ameritrade for day trading as well.
I looked at all of them a year and a half ago and thought Schwab was the best at the time. I don't do options or day trading (Schwab disagrees with me on the definition of day trader) so I can't speak on those.
schwab, Etrade, td ameritrade and fidelity are all fine. It really doesn’t make a difference unless you’re doing a lot of trading or trying to do something specific that one does better. If you’re buying some ETFs or stocks, any are fine. I’ve worked for 3 of them. I prefer Etrade because I like their colors better. There really isn’t a difference unless you’re truly trading. Then their elite trading software matters and there are differences. Schwab does offer more banking options so if you wanted one central place, that may make a difference for you.
Went with Schwab because a former employer ran the 401k through it, and I'm at least somewhat familiar with their site. burnttatertot can you elaborate a bit on different definitions of day trader? LIke...if I buy a couple of shares and sell, make money, then want to turn around and invest all that into buying more stock. Rinse and repeat...would Schwab have an issue with that? IDK if that's even possible what I just suggested.
Create a brokerage account, invest it all in VTI and don’t look at it until 2041. If that doesn’t excite you then do some research and then come back here with more specific questions.
You need to let your purchases settle before selling. I've gotten in trouble a few times because I would buy something and it might jump up 15%-20% in the same day or in after hours and I would sell to take some quick profits and spend it immediately and they don't like that. They'll slap your hand and send you an email + letter in the mail. Pasted below is what they send. The trade(s) you placed on 01/27/2021 was not settled in accordance with securities industry regulations. In cases like this, regulations require that we restrict your trading for the next 90 days just to the funds available in your account. In cases where there's a history of settlement violations, this restriction will not expire. What this means. You can continue trading; however, to place a trade, you'll need settled funds or securities on hand. To find out how much you can trade, log in to Schwab.com and refer to your "Settled Funds Available to Trade" balance. You can also talk with a Schwab Client Service Specialist at 800-435-4000. Why the restriction? When placing orders for accounts without sufficient settled funds or securities on deposit, we're required to make sure all of the following conditions are met: You make full cash payment promptly with settled funds or deliver previously owned securities into the account within the payment period. You keep the purchased securities until full payment with settled funds has been made. You do not make payments with the proceeds from the sale of other securities made after the trade date. If these conditions aren't met, we have to restrict trading without sufficient funds on deposit. Your next steps. To learn more about trade settlement, please call a Schwab Client Service Specialist at 800-435-4000. You can also contact your dedicated service team. We're here to help. We know trading regulations can be confusing at times. Please call us any time if you have questions. We look forward to continuing to serve your trading and investment needs.
Anyone know where the best margin rates can be had these days? Would prefer to stay at one of the bigger online trading firms but if there is a really good rate somewhere else that’s reputable I’m open to it
If anyone is interested, I'm subscribed to a guy who seems to have had some success with his stock picks. He does a shit ton more research than I do and figured why not try it out. I thought some of you might appreciate some of this stuff as well. Stock of the week: TeleDoc (TDOC) Price per share – 190.06 Market Cap – 29.45B 52 Week Trading Range – 147.71 – 308.00 Largest Holders: Vanguard (11 million shares), Blackrock (9 million shares), Ark (7 million shares). Teledoc Health engages in the provision of telehealthcare services using a technology platform that connects mobile devices, the internet, and healthcare services. Their services cover anything from the common cold to virtual visits concerning more terminal illnesses like cancer and heart failure. The company was founded in 2002 and is headquartered in New York. Teledoc was already in adoption phase coming into 2020. Their services were expanding and most people could see a world where telehealth would slowly become a larger part of the healthcare industry. Then Covid-19 happened. The whole world went on lockdown and virtual doctor visits materialized literally overnight. Teledoc was already setup and primed to capitalize on this move and they definitely took advantage. Teledoc essentially allows patients to have face to face meetings with their healthcare provider via a video conference platform. They can be diagnosed and prescribed meds all from the comfort of their homes. This is a trend that I think we will see expanding in a rapid way. The adoption curve on this type of interaction will be steep! I’m incredibly bullish on Teledoc. I was buying shares in the 40’s years ago. I ultimately sold off those shares (big mistake), but I love how the company has progressed in recent years. Economic and worldly trends are like wind behind Teledoc’s back right now. More and more people are being forced to adopt to virtual health visits for their own safety. The convenience of these visits will be what makes them stick. The fact that Teledoc has dropped from over $300 per share to under $200 per share makes me super excited for the opportunity to grab some shares at this level. I think we will see a hard recovery and bounce to all time highs in Teledoc stock before the year is over. Revenue growth doesn’t disappoint either. In 2016, revenue was around 126 million. In 2020, revenue topped out at 1.1 billion. 2021 projections are looking even stronger with a 2 billion dollar revenue projection. Teledoc is literally planning to dominate the virtual healthcare market and they are doing a very good job at it. As the world turns increasingly digital, Teledoc has positioned itself to be the all around go to provider for virtual healthcare needs. The stock retracting 40% in 2 months is a great indicator to buy the dip and hold some shares for the long haul. I’m planning on grabbing up around $2000 worth on Teledoc shares. I think the value is insane at this price. Morningstar gives teledoc a 4/5 star as a best buy right now. This is rare to get this kind of rating in a growth type stock. Often they are insanely overvalued and hard to get an attractive entry. I don’t see that with Teledoc. I believe this dip is a big value purchase right now and will be glad to grab some.
I went heavy on TDOC in November around the time it looked like Biden would win along with cannabis stocks. Almost unloaded it in February when it it got up to $290 but held on bc at that time everything was at an all-time high. My learning lesson was that if you can get 150+% return, just take it.
Fucking same. Even worse it traded between a band of 180-220 all last year. Think it happened 4-5 times and never acted on it. Watched it happen 3 times. Then it busts out and I was like oh, thanks goodness I didn’t use that awesome trading idea. Now
TDOC needs to show 80%+ organic growth yoy. If they hit that # it should explode. If they miss its gonna be a long time before it sees 300 again. I think they are forecasting in the 40-50% range they really need to blow that out.
Maybe a typo, but I’d expect a guy that had TDOC at $40 to be buying in for more than 10/11 shares. Who is this guy? disclaimer: I’m mad online about how much TDOC I own as a result of my stupid entry point in TDOC and what should have been a good entry point in LVGO.
So MSFT and GOOGL can’t just walk in and create teams for doctors and patient? Pardon if it’s a stupid question.
Not a stupid question at all. They absolutely could enter the space. There is a lot more to it tho than just providing doctors with Teams. I also think everyone is too focused on the competitive landscape with telehealth. The TAM is ridiculous and we are absolutely at the early stages. eta I think 50 years from now we will be much more in tune with our health. Ie health watches, remote monitoring, much more regular correspondence / daily feedback with doctors via telehealth etc
Yeah another thing I omitted in my haste to put that together was another interesting line item: New financial institution reporting requirements “on account flows so that earnings from investments and business activity are subject to reporting like wages already are.” There's not really much in the fact sheet to really know what this means, but it has to be more than a 1099-DIV. ADditional reporting plus increased enforcement budget would likely yield quite a bit of revenue for the fisc