The investment thread

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Re: The investment thread

Post by Merk » Wed Mar 26, 2014 7:57 am

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Re: The investment thread

Post by Merk » Mon Mar 31, 2014 8:12 am

60 Minutes ran a a good story on the internet networking advantages that high frequency traders use to exploit other traders on the stock market and what a network engineer has done to level the playing field:

http://www.cbsnews.com/news/is-the-us-s ... et-rigged/
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Re: The investment thread

Post by Merk » Wed Apr 02, 2014 3:53 pm

Yo I gots 8 Gs in equities who wants to smoke a bo?
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Re: The investment thread

Post by Potter » Wed Apr 02, 2014 5:35 pm

my hourly paycheck is 8g's let's smoke yachts
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Re: The investment thread

Post by Merk » Wed Apr 02, 2014 11:04 pm

Potter please buy me things
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Re: The investment thread

Post by SoDeepPolaris » Thu Apr 03, 2014 2:40 pm

Potter wrote:my hourly paycheck is 8g's let's smoke yachts
You get paychecks every hour?
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Re: The investment thread

Post by Merk » Wed May 07, 2014 3:54 pm

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Re: The investment thread

Post by SoDeepPolaris » Sat May 31, 2014 2:23 pm

I'm probably going to be switching from Wells Fargo over to an online bank in the near future. I'm tired of earning practically nothing on my savings account while I get really no benefit from staying with WF.

Anyone have experience with either Ally or Capital One 360 (ING buyout)?
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Re: The investment thread

Post by Merk » Mon Jun 02, 2014 8:25 am

Well, what are your goals? Getting very, very little returns on what you have in your savings account is sort of par for the course. I think for my Chase savings account I got $0.01 per $1,000 I had in my savings account and I would imagine most banks would be similar. If you want to invest directly with a bank you're going to want a certificate of deposit (http://en.wikipedia.org/wiki/Certificate_of_deposit) or a "CD" but note that you won't be able to touch the money invested in a CD until the CD matures - similar to a bond. A CD is virtually risk-free but as you can imagine the returns on a CD are going to be significantly less than other investment instruments.

If you straight up just want a bank to hold your money and you don't have any qualms with supporting corporate America then Wells Fargo is going to be fine. My biggest concern with Ally or Capital 360 would be ATM prevalence, banking fees (if you're a deadbeat who overdraws a lot), and access to your cash. If you live near an Ally or Capital 360 branch then this may not be an issue for you but if you travel a lot then you should take into consideration that Ally / Capital 360 may not have a presence in many smaller cities. Of course, you can just buy everything with a credit card and use your bank account to pay off your credit card which I highly recommend doing so you can get that sweet cash back (do NOT carry a balance on it, God damn it).

If you have a lot of cash and want to start investing it somewhere then that's a whole other bag.
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Re: The investment thread

Post by SoDeepPolaris » Mon Jun 02, 2014 2:22 pm

Ally is currently at a 0.89% interest for their savings account. Much better than my 0.01 with WF. I'm not looking at CDs because I need this money to be liquid for tuition and living expenses. Otherwise I'd probably put it into my mutual funds or a Roth IRA.

Ally has no ATM fees and reimburses you for other banks ATM fees.

I buy mostly everything on credit and pay my total balance every month. Them sweet points.

I honestly can't see a negative with online only banking.
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Merk
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Re: The investment thread

Post by Merk » Mon Jun 02, 2014 2:31 pm

Welp if you need your shit to be liquid then yeah your best bet is going to be an interest bearing savings account so I'd go with whatever gives you the most bang for your buck and fucks you the least.
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Re: The investment thread

Post by Ho » Mon Jun 02, 2014 5:05 pm

I've been with First Internet Bank of Indiana for the past few years. In general, it hasn't been a problem having an online-only bank. Not having access to a physical branch has only been an issue a handful of times. Here's the ones I can think of:
  • I wanted to cash in the bucket of change I collected over time (Coinstar works for that...pay a fee or get a gift card for full amount)
  • I needed a cashiers check or a money order (You can at least get a money order at many other places. The thing I needed a cashiers check for eventually agreed to take a credit card. I'm not sure what alternative I would have had otherwise.)
  • I wanted to cash a check (I can still deposit it electronically and get money out of an ATM assuming you have the money to cover it--otherwise, they do get the electronic deposit done fairly quickly unless it's a weekend or holiday).
  • I wanted to pay someone for a service in cash so they could avoid the credit card fees. I would have liked to give them $100 bills instead of a wad of $20s like you get out of most ATMs. In the end, I just wrote them a check. Woo...21st century!
Otherwise, for day-to-day banking, an online bank seems to work just fine. FirstIB also credits back ATM surcharges (up to $10/month) and I get 0.6% on my savings account and 0.55% on my checking.
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Merk
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Re: The investment thread

Post by Merk » Fri Jun 27, 2014 8:31 am

Woooooo I got $10,000 in my portfolio I'm half way to that sweet house down payment!
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Re: The investment thread

Post by Ho » Fri Jun 27, 2014 8:58 am

Winning.

We should have a DOW 17,000 party...if we get there. It seems like it's been flirting with it for weeks now.
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Re: The investment thread

Post by Merk » Fri Jun 27, 2014 9:07 am

Oh yeah the bull market is going to continue and I fully except a DOW 17,000 and an S&P500 2,000 by this year's end. There will be a sharp single-digit correction sometime this year but we'll recover before 2015.
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