Bogleheads.org

ribonucleic

My experience was as a programmer on an application that supported multiple end-user platforms. Our approach was to make the best experience for each platform without one platform driving the others. We just rolled up our sleeves and did the work... without a billion-dollar budget. Apparently, some...

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Some people are really stubborn when it comes to anything new. NFTs have loads of use cases. It bogles my mind that one can accept cardboard prints of baseball players being worth loads of money or literal rocks, but NFTs are too hard to comprehend. Not that I’m necessarily innocent of being An Old...

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The disproportionate amount of electrical energy consumed by this enterprise has... how can I put this neutrally... hidden costs.

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THNQ has an expense ratio of... [looks it up] ... 0.68%.

That may be reasonably priced for what it does. But it’s too rich for my blood.

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F150HD wrote: ↑Thu Jan 28, 2021 10:32 pm wondering where this lawsuit will go....

Robinhood hit with class action lawsuit after it restricts GameStop stock

Unless the lawyers who drafted their Terms of Service were incompetent: Nowhere.

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LOL... doubled in price then gave it all back in 20 minutes.

ribonucleic

I think what we are witnessing is going to have profound, long-term changes to the financial industry. This is a once-a-quarter-century historical event, one that may end up in the history books. The Senate hearing should be the usual pageant of windbaggery and tech ignorance. (I don’t envy the aid...

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If WSB does manage to bankrupt a hedge fund, don’t be surprised if it turns out that some town or college was investing with it and goes down too.

ribonucleic

You could argue there are free speech considerations. Freedom of speech only applies to government restrictions. Private entities are not held to the same restrictions. (Hence, why this forum is perfectly within its rights to delete posts that don't follow the rules. As my father is wont to say -- ...

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New Providence wrote: ↑Thu Jan 28, 2021 2:27 pm Trading is so very essential to our way of life that it should almost be almost like a Utility. You can't just cut off water or electricity whenever the provider feels like it.

You could argue there are free speech considerations.

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Aaand here’s the first lawsuit from a Robinhood user.

https://www.bloomberg.com/news/articles ... f-gamestop

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Yep, they might be done. Their core demographic are the same people that hate the establishment and were scooping up GameStop. Everyone from all sides of the aisle is calling for their head on twitter.. When was the last time you saw Ja Rule, AOC, Ben Shapiro and Donald Trump Jr. in agreement? :D I...

ribonucleic

Fall out for Robinhood will be interesting. They just alienated their core base. Yep, they might be done. Their core demographic are the same people that hate the establishment and were scooping up GameStop. Everyone from all sides of the aisle is calling for their head on twitter.. When was the la...

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Up 66% from the bottom half an hour ago.

So much excitement!

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BackOfTheNet wrote: ↑Thu Jan 28, 2021 11:27 am
ribonucleic wrote: ↑Thu Jan 28, 2021 11:08 am The efficient market informs us the the stock is now literally half as valuable as it was an hour ago.
I guffawed at this.

Is there a precedent for a stock losing half its value in one hour?

ribonucleic

Robinhood is clearly engaging in market manipulation by not allowing users to purchase shares of GameStop and other stocks - only allowing them to sell. Companies are not your friends. If Vanguard, Fidelity, or Schwab have to do the same thing to protect their bottom line, they won’t lose a minute’...

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imflyboy wrote: ↑Thu Jan 28, 2021 11:15 am GME tanking! Down to $153!

The children will ask us “What were you thinking?”

And all we’ll be able to say is “You had to be there.”

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JiggsJazzCar wrote: ↑Thu Jan 28, 2021 11:10 am
CoastLawyer2030 wrote: ↑Thu Jan 28, 2021 11:02 am Got in for one share at $312. Let's see if my wife gets a free dinner or not.
Looks like you might be cooking dinner at home tonight.

Many couches will be slept on.

ribonucleic

The efficient market informs us the the stock is now literally half as valuable as it was an hour ago.

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Rashida Tlaib tweeting a call to have the SEC investigate Robinhood’s trading restriction as “market manipulation”.

If her track record of success is any indication, Robinhood is in the clear.

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retiringwhen wrote: ↑Thu Jan 28, 2021 10:49 am I fully expect a series of Class Action Lawsuits for blocking these trades. That will be popcorn time.

That would be the final irony. The lawyers get rich and the participants get peanuts.

ribonucleic

Everyone thinks they can tell which player at the poker table is the sucker.

Some of them will be proved wrong.

ribonucleic

I don't think it's set in for many that every perceived slight against the average person is only going to make this a crazier ride up. I say "perceived" because it doesn't even matter if it's real or what the reasons are, but Robinhood stopping trades, CNBC saying Melvin closed their pos...

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I see a lot of people excited about the prospect of fast easy money.

That usually doesn’t work out.

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njuser wrote: ↑Thu Jan 28, 2021 8:48 amIt's not some kids trying to make quick money.

I’m reminded that Jim Jones exploited desperate people’s hopes for a more just society.

It didn’t end well.

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Interesting take from podcast host Scott Galloway: https://nymag.com/intelligencer/2021/01/scott-galloway-unpacks-the-gamestop-uprising.html 1) Millennials were bound to fight back against the current grotesque level of income inequality one way or the other. 2) COVID isolation is exacerbating the i...

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Meanwhile, over at MetaFilter:

Bogleheads, a conservative long term passive investment forum has a very active discuss of GME right now, which tells me this is going big.

https://www.metafilter.com/190173/The-G ... ng#8056104

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The one thing I'm sure of is that an interesting book will be written about this someday. [ OT comment removed by admin LadyGeek] Regardless of whether some nice people make a lot of money and some not nice people lose a lot of money, I have a superstitious conviction that A) nothing good will come ...

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Customer service rep 101 training is to not just hear the customer but empower the rep to either solve the problem or kick it upstairs to someone who can. Obviously, the rep is not empowered to hire the dozens if not hundreds of extra people that would be necessary to get wait times to a tolerable ...

ribonucleic

Here's the canned response With all due respect, would a handwritten letter of apology from Vanguard’s CEO have left you any less dissatisfied with the wait times? Whichever brokerage company you use, it is going to have a great deal of importance to you while you have very little importance to it....

ribonucleic

I know, I know, the Fed is going to keep interest rates low forever. But there is some real principal risk on this fund - not stock-like, but certainly not money market fund-like. Well, since you mention it... What’s the scenario for, say, a 1% rate increase? Everyone gets vaccinated and rushes out...

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Godot wrote: ↑Mon Jan 25, 2021 12:27 pmVTI will hit $4,000 on March 3rd at 10:45 am.

Now that’s actionable!

ribonucleic

If you’re really in it for the long term, it will peak and crater several times before you sell.

So to be in proper Bogle Mind, you shouldn’t care.

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Is there a low-cost ETF that will let you invest in frog breeding?

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UpperNwGuy wrote: ↑Sat Jan 23, 2021 11:03 amWhat question are you asking that wasn't addressed in the earlier discussion in your first link?

Specifically, the likelihood or unlikelihood of Schwab committing outside resources to prop up what was (judging from the consensus opinion there) a loss leader to begin with.

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[Thread merged into here, see below. --admin LadyGeek] Since the last discussion of the health of Schwab Bank... https://www.bogleheads.org/forum/viewtopic.php?t=318764 ... it looks like its deposit growth has dramatically improved. But its capitalization remains a below-average 7%: https://www.dep...

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It’s a strange phenomenon that an item with free shipping will sell for more than the same item plus shipping. Not really. 1) Marketplace research tells us that Internet shoppers increasingly expect "free" shipping. 2) Knowing this, the eBay algorithm that determines search result placeme...

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Any MacOS laptop users for whom portability is the main thing, the M1 MacBook Air is an absolute no-brainer purchase decision. Just get it. However, the Pro version is a question mark. It's got the same guts (though the added fan will let you run them a bit harder), still foists on you the Touch Bar...

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abuss368 wrote: ↑Sat Jan 16, 2021 3:33 pm Customer service music from Apple support. I am on hold!

I work for an equally prominent tech giant and our hold music is so bad that I often apologize to callers when I have to subject them to it.

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Andrew Hill - Compulsion!!!!!

Hard to go wrong with 60s Blue Note.

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Massive environmental destruction from global warming, with attendant international conflict.

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Jack FFR1846 wrote: ↑Fri Jan 15, 2021 11:06 am You much prefer mutual funds.....why?

It feels like the bid/ask spread introduces another element of avoidable risk - especially with munis.

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David Jay wrote: ↑Fri Jan 15, 2021 10:48 am Is this in taxable or in retirement accounts?

Taxable.

ribonucleic

I prefer mutual funds over ETFs. And I prefer Vanguard funds over those of its competitors. But... Schwab is very attractive for its physical locations and its customer service reputation. And you can’t buy Vanguard mutual funds at Schwab without paying extra. (Assuming they’re even available.) And ...

ribonucleic

Compare China’s infrastructure commitment with ours. Compare the quality of their educational system to ours.

Which do you think offers more potential for economic growth over the next 20 to 30 years?

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Data point: Buffett got very, very rich without investing in things he didn't understand.

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If you’re looking for a different term, Jane Bryant Quinn called them “cocktail party investments”. That is: investments that would be interesting to bring up at a cocktail party, as opposed to your crushingly boring index funds.

Of course, now there are no more cocktail parties.

ribonucleic

Rockland Trust Bank in Massachusetts is currently paying 0.01% on any non-CD savings deposit less than $50,000. It also has this eye-opening caution: “The APY for each balance tier in your Rockland Trust Money Market Savings Account will apply to the entire balance - for example, if you have a daily...

ribonucleic

Let’s just say I’m not as confident in the cyber-security of TreasuryDirect as I used to be... Vanguard offers “commission-free trades on new Treasury securities” but “auctions held 4 times a year”? https://investor.vanguard.com/investing/online-trading/buy-sell-bonds Do any competing firms match th...

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I can find no indication of how many different bonds are held by FMBIX.

I was hoping it would rival the 8,621 held by Vanguard Intermediate-Term Tax-Exempt (VWIUX).

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