Search found 2629 matches

by AlphaLess
Sun Sep 20, 2020 11:54 am
Forum: Investing - Theory, News & General
Topic: Are retail investors driving the market? But I thought 10 percent richest own 90% of market?
Replies: 35
Views: 3444

Re: Are retail investors driving the market? But I thought 10 percent richest own 90% of market?

Price is set on the margin (trading), so ownership doesn't set prices at all. For price to change the trade volume needs to breech a fairly large floating threshold, so it's highly unlikely that individuals with small trading volumes move the market at all. This is patently false. RobinTrack has de...
by AlphaLess
Sun Sep 20, 2020 11:54 am
Forum: Investing - Theory, News & General
Topic: Are retail investors driving the market? But I thought 10 percent richest own 90% of market?
Replies: 35
Views: 3444

Re: Are retail investors driving the market? But I thought 10 percent richest own 90% of market?

No, it's not true. Retail investors are not the primary drivers of the stock market. Just because it's "reported" doesn't make it true. They're at least driving the options market as of 2020. https://i.imgur.com/4jPj6LD.png Just because they're driving a derivatives market, doesn't automatically me...
by AlphaLess
Sun Sep 20, 2020 11:49 am
Forum: Investing - Theory, News & General
Topic: Are retail investors driving the market? But I thought 10 percent richest own 90% of market?
Replies: 35
Views: 3444

Re: Are retail investors driving the market? But I thought 10 percent richest own 90% of market?

There are reports that retail investors are driving up the market. Is this true? The Federal Reserve reported: 10% of the wealthiest Americans own about 90% of the market. The top 1% of the wealthiest Americans own 52% of the market The bottom 50% of American's own about 0.7% of the market. Which p...
by AlphaLess
Sun Sep 20, 2020 11:46 am
Forum: Personal Consumer Issues
Topic: Is Costco worth the $120 membership?
Replies: 154
Views: 8520

Re: Is Costco worth the $120 membership?

Is anyone here a member at more than one wholesale club? When we first started, possibly twenty-five years ago, the nearest Costco was nearly 20 miles away, and the proposition was sort of marginal, and we canceled after a couple of years. Then my wife's employer had a great offer on BJ's membershi...
by AlphaLess
Sun Sep 20, 2020 11:45 am
Forum: Personal Consumer Issues
Topic: Is Costco worth the $120 membership?
Replies: 154
Views: 8520

Re: Is Costco worth the $120 membership?

Costco membership value hinges on a very narrow proposition. Especially since the pandemic Costco quality has gone down the drain a lot. You might like Costco for whatever reason, but it is clearly not the great value proposition it used to be. We are maintaining the membership only because the fee ...
by AlphaLess
Sat Sep 19, 2020 10:58 pm
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 5784
Views: 1380403

Re: What Movie Have You Recently Watched?

Do the Right Thing, by Spike Lee, 1989.

Interesting cultural and historical perspective.
by AlphaLess
Sat Sep 19, 2020 10:52 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

Hey everyone. The sheer volume of content in this thread is a bit overwhelming for me. I'd like to explore refinancing again after my first at the beginning of this year. I'd like to understand the process a bit more than I did last time and shop around a bit more. Can someone give me a very brief ...
by AlphaLess
Sat Sep 19, 2020 10:51 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

need403bhelp wrote: Thu Sep 17, 2020 11:22 pm
AlphaLess wrote: Thu Sep 17, 2020 11:03 pm
dstac wrote: Thu Sep 17, 2020 7:22 pm the Better/AMEX offer, so waiting for another $2500 credit on top of this.)
Nice!

What's the better / AMEX offer?

TIA!
Briefly: it has expired
Curious minds would like to know for the future.

TIA again!
by AlphaLess
Sat Sep 19, 2020 10:51 pm
Forum: Investing - Theory, News & General
Topic: I was wrong! Recession in 10 years 8 Months
Replies: 24
Views: 5013

Re: I was wrong! Recession in 10 years 8 Months

Folks, https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States I have been quoting that historically since 1836, there has been at least one US recession every 10 years. I was wrong. 2020 recession is 10 years 8 months from the 2007/2009 recession. This time is different. KlangFool Lo...
by AlphaLess
Thu Sep 17, 2020 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

dstac wrote: Thu Sep 17, 2020 7:22 pm the Better/AMEX offer, so waiting for another $2500 credit on top of this.)
Nice!

What's the better / AMEX offer?

TIA!
by AlphaLess
Thu Sep 17, 2020 11:00 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

Not sure how quick other lenders will follow but just got this email from Better “Lock now — prices go up on 9/21 As you may know, the FHFA has introduced a 0.5% fee on all refinance loans funded after November 30, 2020. That means you must lock a rate before September 21 to avoid additional costs....
by AlphaLess
Thu Sep 17, 2020 10:58 pm
Forum: Personal Finance (Not Investing)
Topic: Confused About Life Insurance Policy in My Name
Replies: 8
Views: 875

Re: Confused About Life Insurance Policy in My Name

Well, with life insurance these are the key actors:
- owner: the person who owns the policy,
- insured: the person whose life is insured,
- beneficiary: the person(s) to whom money goes when there is an event (i.e., death).

You need to look at the policy who the actors are.
by AlphaLess
Mon Sep 14, 2020 4:55 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

Newbie here, anyone has any experience here with cashcall mortgage? Their rate for 15 yrs is 2.375% and 1k flat fee for closing costs seems too good to be true. I am not sure that is "too good to be true". I am trying to close with a 2.000% 15-year, with a credit at closing (not counting pre-paids ...
by AlphaLess
Mon Sep 14, 2020 4:53 pm
Forum: Investing - Theory, News & General
Topic: Winklevoss: The Case for $500,000 Bitcoin
Replies: 338
Views: 21629

Re: Winklevoss: The Case for $500,000 Bitcoin

These are typical signs of a scam. The way scam proliferates has to do with marketing, adoption, and continuous pumping. Eventually, parties who are left holding the bag at the end lose money. My understanding is that with Bitcoin, as few as 10 individuals/ entities might hold 80% of what is in exi...
by AlphaLess
Mon Sep 14, 2020 4:52 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

Lucky2Invest wrote: Mon Sep 14, 2020 10:29 am Has anyone had any luck with Interest Only refinance on a Jumbo? I keep hearing "because 30 and 15 yr's are so low we aren't offering ARM's at the moment"....
Interest-only and ARM are different products.

I have also heard that lenders don't want to do ARMS.
by AlphaLess
Sun Sep 13, 2020 10:37 pm
Forum: Investing - Theory, News & General
Topic: [Covered Call Option]
Replies: 26
Views: 1752

Re: COVERED CALL OPTION

Hi! Have never done options before, and am trying to execute a covered call option. I'm in need of assistance... Say I have 100 shares of apple and am going to do a covered call option. I say set the strike price for 130.00, my limit price for 128.00 and the duration for the week. Will there be pot...
by AlphaLess
Sun Sep 13, 2020 9:55 pm
Forum: Investing - Theory, News & General
Topic: [Covered Call Option]
Replies: 26
Views: 1752

Re: COVERED CALL OPTION

Hi! Have never done options before, and am trying to execute a covered call option. I'm in need of assistance... Say I have 100 shares of apple and am going to do a covered call option. I say set the strike price for 130.00, my limit price for 128.00 and the duration for the week. Will there be pot...
by AlphaLess
Sun Sep 13, 2020 9:54 pm
Forum: Personal Consumer Issues
Topic: Credit Card Charge Dispute Who Generally Prevails?
Replies: 51
Views: 3666

Re: Credit Card Charge Dispute Who Generally Prevails?

But my impression is that disputing a charge is an excellent way to light a fire under a merchant who seems to be giving you a runaround, or slow-walking resolving a complaint. If my first attempt to get a merchant to resolve a complaint doesn't succeed, I don't waste any more time--going to the cr...
by AlphaLess
Sun Sep 13, 2020 9:26 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

Question regarding updates to your credit report - my refinance closed middle of August and the new loan was funded on 8/20. The new loan just showed up on my credit report, however, the old loan is still showing as open, so effectively my open debt (due to mortgage) is showing as double. Is this p...
by AlphaLess
Sun Sep 13, 2020 9:17 pm
Forum: Investing - Theory, News & General
Topic: Winklevoss: The Case for $500,000 Bitcoin
Replies: 338
Views: 21629

Re: Winklevoss: The Case for $500,000 Bitcoin

I am 100% positive there are hundreds if not thousands of people trying to figure out how to steal and defraud. The next theft is coming the only question is how and when. 150% agreed. Not only that, but the entire security of the ecosystem is suspect. There is no incentive for the thieves to crash...
by AlphaLess
Sun Sep 13, 2020 9:03 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

Question regarding updates to your credit report - my refinance closed middle of August and the new loan was funded on 8/20. The new loan just showed up on my credit report, however, the old loan is still showing as open, so effectively my open debt (due to mortgage) is showing as double. Is this p...
by AlphaLess
Sun Sep 13, 2020 9:03 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

So did mine and One American Mortgage sold it to PNC Bank. Not impressed by PNC Bank btw. Just curious: how so? They send you these payment coupons instead of online statements. I was refinancing again with someone else and needed a statement and it was impossible to get. Had to call PNC and had to...
by AlphaLess
Sun Sep 13, 2020 11:55 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

wwi Owning.com sold my recent re-fi mortgage's servicing to "One American Mortgage". I was hoping it would go to Chase, but oh well...! One more account to manage and set autopay on for now. So did mine and One American Mortgage sold it to PNC Bank. Not impressed by PNC Bank btw. Just curious: how ...
by AlphaLess
Sun Sep 13, 2020 11:54 am
Forum: Investing - Theory, News & General
Topic: Winklevoss: The Case for $500,000 Bitcoin
Replies: 338
Views: 21629

Re: Winklevoss: The Case for $500,000 Bitcoin

I am 100% positive there are hundreds if not thousands of people trying to figure out how to steal and defraud. The next theft is coming the only question is how and when. 150% agreed. Not only that, but the entire security of the ecosystem is suspect. There is no incentive for the thieves to crash...
by AlphaLess
Sun Sep 13, 2020 11:46 am
Forum: Investing - Theory, News & General
Topic: Winklevoss: The Case for $500,000 Bitcoin
Replies: 338
Views: 21629

Re: Winklevoss: The Case for $500,000 Bitcoin

The scarcity argument for gold while on the surface kind of nuts is a pretty fascinating concept. Flying across the world sounded crazy not that long ago, so at some point we may be able to access the vast amounts of gold beneath our deepest oceans and in space. More realistically though I think a ...
by AlphaLess
Sun Sep 13, 2020 11:43 am
Forum: Personal Consumer Issues
Topic: What's this bug?
Replies: 34
Views: 2538

Re: What's this bug?

atikovi wrote: Sun Sep 13, 2020 9:43 am Well that's just great, "if they're seriously perturbed, they can inflict a painful bite," If I don't already have to watch out for bees, wasps, yellow jackets and hornets in the yard, now this.
Spray permethrin.
by AlphaLess
Sun Sep 13, 2020 9:14 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

Wings5 wrote: Sun Sep 13, 2020 6:20 am LenderFI would not entertain a second application after we backed out in April.
Why did you back out?
by AlphaLess
Sun Sep 13, 2020 9:13 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

Owning.com sold my recent re-fi mortgage's servicing to "One American Mortgage". I was hoping it would go to Chase, but oh well...! One more account to manage and set autopay on for now. So did mine and One American Mortgage sold it to PNC Bank. Not impressed by PNC Bank btw. Just curious: how so?
by AlphaLess
Sun Sep 13, 2020 12:10 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

In general yes, but if it's between business friendly and consumer friendly business usually wins. Property tax rates are higher than average, approx 2.5% of property value. Sales tax is 8.25%. But no income tax. On balance I'll take it to have no income tax. Thank you for the clarification. I alwa...
by AlphaLess
Sun Sep 13, 2020 12:08 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

Currently in the underwriting stage with Loan Depot. 15 years at 2.25% with 2.5K lender credits. Started in early August. Looks like another 30-45 days. I opened up one of the initial email communications they sent us where there was a link to “check our rates “. I pushed the link and now it states...
by AlphaLess
Sun Sep 13, 2020 12:07 am
Forum: Personal Investments
Topic: Ally Bank Not Reliable
Replies: 50
Views: 4858

Re: Ally Bank Not Reliable

We were locked out of our Bank of America checking account for 3 weeks due to a 6-figure teller error. And not only locked out, but all bill pays and checks failed due to insufficient funds due to the mistake of the teller during those 3 weeks. So what are ya gonna do? No one is reliable. Would you...
by AlphaLess
Sat Sep 12, 2020 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

Currently in the underwriting stage with Loan Depot. 15 years at 2.25% with 2.5K lender credits. Started in early August. Looks like another 30-45 days. I opened up one of the initial email communications they sent us where there was a link to “check our rates “. I pushed the link and now it states...
by AlphaLess
Sat Sep 12, 2020 3:51 pm
Forum: Personal Investments
Topic: Fidelity Bitcoin Index Fund
Replies: 71
Views: 6081

Re: Fidelity Bitcoin Index Fund

An index fund to invest in a single asset? Seems to defeat the purpose, especially as bitcoin can be broken down into trivially small denominations (satoshis). If I wanted to own BTC I’d buy some on a low-fee exchange then park them in Coinbase myself. No minimum, no fees aside from a tiny transact...
by AlphaLess
Sat Sep 12, 2020 3:49 pm
Forum: Personal Investments
Topic: Fidelity Bitcoin Index Fund
Replies: 71
Views: 6081

Re: Fidelity Bitcoin Index Fund

Abi Johnson not rich enough, and now she is pulling off stunts like that.

Oh, there is never end to human greed.
by AlphaLess
Sat Sep 12, 2020 3:46 pm
Forum: Investing - Theory, News & General
Topic: AQR still singing the same song
Replies: 113
Views: 8317

Re: AQR still singing the same song

AQR suffers from a typical hedge-fund manager vs investor issue. There are several issues with AQR: - they have no alpha, - they employ a massive marketing machinery, - they employ mediocre people. We interview routinely from AQR and their talent is mediocre (as compared to what I would consider acc...
by AlphaLess
Sat Sep 12, 2020 3:30 pm
Forum: Personal Investments
Topic: Anyone successfully living off dividends & interest?
Replies: 203
Views: 18561

Re: Anyone successfully living off dividends & interest?

I an single and always have been. I would like to step away from my high paying job at 57. (my lowest income year will be 14K - 35 years ago as of today) My "SS estimate" at full retirement age 67 is 2863.00 per month. but doesn't that assume I keep my current pay of over 100K per year job until I'...
by AlphaLess
Sat Sep 12, 2020 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

I'm so confused seeing all these posts by people getting no costs refis (A+B+C+E=0) at rates well under 3%. I haven't been able to find anything approaching a deal like that, and I'm getting quotes from all the recommended lenders in this thread (Better, LenderFi, LoanCabin, LoanDepot). I'm seeing ...
by AlphaLess
Sat Sep 12, 2020 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

The real question is, why is FHFA implementing a refinancing fee of 0.5%. Mortgage News Daily had a take on it : Lender margins are wide. In other words, lenders haven't dropped rates as much as the bond market would allow them to (a decision driven by necessity due to capacity constraints amid a r...
by AlphaLess
Sat Sep 12, 2020 3:13 pm
Forum: Personal Investments
Topic: Anyone successfully living off dividends & interest?
Replies: 203
Views: 18561

Re: Anyone successfully living off dividends & interest?

But just out of curiosity, anyone with a NON 8-figure portfolio actually create a stream of income that allows them to (1) meet all expenses and (2) keep up with inflation -- all without eating into principal or using capital gains for your withdrawal strategy? If so, how the heck did you do it? Ye...
by AlphaLess
Sat Sep 12, 2020 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

I'm so confused seeing all these posts by people getting no costs refis (A+B+C+E=0) at rates well under 3%. I haven't been able to find anything approaching a deal like that, and I'm getting quotes from all the recommended lenders in this thread (Better, LenderFi, LoanCabin, LoanDepot). I'm seeing ...
by AlphaLess
Sat Sep 12, 2020 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

Not sure how quick other lenders will follow but just got this email from Better “Lock now — prices go up on 9/21 As you may know, the FHFA has introduced a 0.5% fee on all refinance loans funded after November 30, 2020. That means you must lock a rate before September 21 to avoid additional costs....
by AlphaLess
Sat Sep 12, 2020 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

To get the best rate: Loan amount can't be too small or too big LTV can't be too big Best credit bracket Live in the right state Apply on the right day, hour, or minute Also, need to through the dice 10 times and attempt to get a 6x6. Face east. Make sure sun is shining, AND No full moon that night.
by AlphaLess
Sat Sep 12, 2020 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

I am hearing about LenderFi waiving appraisal - its not something that THEY make the call on right ? it has to be desktop underwriting from fannie and freddie ? Yes Yup! It's NOT their choice. Standard Fannie procedure, and it depends on: - borrower credit score, - LTV, - possibly Debt-to-Income. H...
by AlphaLess
Sat Sep 12, 2020 11:25 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

Can you lock with two lenders? Is there any reason to do so, if the rates are the same and appraisal is waived in both cases? E.g. concerns over time to close? Does it matter at all if one lender is a broker (i.e. LenderFi) and another is a direct lender (e.g. Loan Depot)? There's nothing preventin...
by AlphaLess
Sat Sep 12, 2020 11:18 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

Here is a rapid review of RATES I am getting from various lenders that I worked with: Data: - condo around $1M in a center of a major metro area, - LTV of 59.9% or less, - no cash-out, nothing fancy, not rolling the costs or prepaids into the mortgage, - mortgage dollar figure just below $500K, - cu...
by AlphaLess
Sat Sep 12, 2020 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

Here is a rapid review of various lenders that I worked with: Data: - condo around $1M in a center of a major metro area, - LTV of 59.9% or less, - no cash-out, nothing fancy, not rolling the costs or prepaids into the mortgage, - mortgage dollar figure just below $500K, - currently in a 5x1 ARM at ...
by AlphaLess
Mon Sep 07, 2020 9:42 pm
Forum: Personal Finance (Not Investing)
Topic: House sale quandary - under contract!
Replies: 66
Views: 8571

Re: House sale quandary - got offer from neighbor before agent listed house

Asking minus commish (5.5-6%) is not a deal for you. It becomes more of a deal, if you split the commish 50-50, and you get asking minus, say, 2.75%. My thinking is that commission gets paid by buyer and seller, partially and jointly, because it is a tax on the transaction, so to speak. At asking mi...
by AlphaLess
Mon Sep 07, 2020 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Landlords: How are you doing this year?
Replies: 139
Views: 16591

Re: Landlords: How are you doing this year?

No. Extended to July 28th. No doom till August. But you would expect the doom to come before, right? As long as there is no eviction, there will be non-payment by some. I was wrong :oops: It's been extended through September 30th. https://www.gov.ca.gov/wp-content/uploads/2020/06/6.30.20-EO-N-71-20...
by AlphaLess
Mon Sep 07, 2020 10:18 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6782
Views: 449792

Re: Refinance Mega Thread

Greetings: thank you for the very nice thread. I spent a few minutes tinkering with various applications: - ally.com worked well (had to unlock Transunion, but soft pull), - tried Amerisave, and they chocked on all 3. I had already unlocked TU, but then it asked for Equifax. Unlocked Equifax, and th...
by AlphaLess
Tue Jul 21, 2020 10:35 pm
Forum: Personal Consumer Issues
Topic: Just Ordered Peloton Bike
Replies: 142
Views: 14244

Re: Just Ordered Peloton Bike

livesoft wrote: Fri Jul 17, 2020 9:02 am My recommendation is to not tell any of your friends or family that you bought one of these things.
Why is that?