Try this thread.
Try this thread.
That's the quickest way to ensure that you will never be called to appear on CNBC or Bloomberg ever again.captmorgan50 wrote: ↑Sun Mar 19, 2023 9:03 pm • Rarely will it be the most difficult of all answers---“I don’t know.”
boglebrook wrote: ↑Mon Mar 20, 2023 8:55 am Hi All - I have a First Republic 30-year fixed rate mortgage at 3.3%, but the original terms include several discounts - 0.4% Core Relationship, 0.1% for using online bill pay, and 1% for having a checking account at First Republic. In the case that First Republic goes out of business, what happens to these discounts? Is there a chance that my rates would change somehow?
They lost 90% of the their investment. That is not recoverable.Weathering wrote: ↑Sun Mar 19, 2023 4:22 pm Did Saudi Arabia just lose lots of $ on CS, or are they staying invested somehow with UBS?
Credit Suisse collapsed. It was taken over by UBS in a shotgun wedding that included a $9 billion bailout from the Swiss and wiping out $17 billion in convertable bonds.
CS majors make $35 to $40 per hour average.Vulcan wrote: ↑Sat Mar 18, 2023 1:33 pm"The estimated total pay for a Co-Op at Northeastern University is $21 per hour."
And you have to take a semester off?
I think I know the answer to that.
That's the wrong title. I was referring to the other title in the post, not the Retirement Gamble.Tony-S wrote: ↑Wed Mar 15, 2023 11:11 pmYou can watch it here.
https://www.pbs.org/wgbh/frontline/docu ... nt-gamble/
Study abroad - Germany has free colleges and some are in English and accept foreign students. Canada has some inexpensive colleges, like Memorial University of Newfoundland, which has really good CS and engineering programs.runner3081 wrote: ↑Sat Mar 11, 2023 2:50 pm We are planning the following:
100% Paid books/tuition for 2-years of Community College, living at home.
100% Paid books/tuition for in-state University, living at home.
Anything else? They are responsible for it (i.e., room and board if they want 4-years away).
This is the stuff the Dave Ramsey pawns off on the gullible.KellyInBaconville wrote: ↑Tue Mar 14, 2023 2:40 pm Take a look at that 5.75 load….
I’m a noob here. But have learned about expenses.
I always use rules for investing decisions. It helps avoid emotional rationalization. Also, it has been over 2% many times in the past, so it looks like a reasonable number to start switching from treasuries to TIPS.
As the other say, it shouldn't be a problem, but I would get it fixed for future returns.Uncle Morris wrote: ↑Sun Mar 12, 2023 6:58 pm We file jointly.
My spouse received income via Paypal, and the SSN on that account is mine. So the 1099 from Paypal has my SSN.
Is this a problem? Can we report it (correctly) as her income, not mine, or will the IRS be looking for that amount on my part of the return?
It depends on the fees and investment options. If they are good, leave it be. If they are mediocre, roll them over.
Not the specific date, but the consequences, including the shutdowns and market drop were predicted for years.TxFrog wrote: ↑Sun Mar 12, 2023 1:03 pmHuh? So in 2019 you knew that in March 2020 the S&P 500 would drop 30+% and the developed world would go into lockdowns or stay-at-home orders?
I understand some experts prior to 2020 we stating that the world was "due" for a global pandemic at some point and it was a possibility, but don't know anyone who accurately predicted the stock market drop in March 2020 well beforehand.
There is not really any difference, just a different insurance provider. Both have maximums of $250,000 per account.IsabellaH555 wrote: ↑Sun Mar 12, 2023 12:11 pmPlease explain the difference between the federal insurance limit at credit unions vs banks.tunafish wrote: ↑Sat Mar 11, 2023 3:08 am I would put it in 2-3 credit unions because of the federal insurance limit.
I've transferred between places a few times It is simple. For example, Schwab has a form you can down load, fill out, scan in and upload, and presto it happens in a week or so hands off. There is a likelihood the form lets you say transfer everything, this amount, if between brokerages specific assets, etc.
Note that the Fidelity Bank Sweep Account has $1.25 million in FDIC insurance per account holder.cowbman wrote: ↑Fri Mar 10, 2023 11:00 pm Given the recent news with Silicon Valley Bank, you may want to consider the security of the bank. Also, Fidelity allows you to purchase several different MMA as well as T-bills. The SIPC limit is higher at Fidelity than the FDIC limits in banks. If you are set on transferring that amount, I'd probably send it as a wire.
SVB and FRC are both in California and Massachusetts and cater to high tech and wealthy clients. I am assuming that the OP works for a tech company that uses SVB for payroll and has his money deposited directly to FRC.
Why? That $2.8 million is only paying 1.5% interest when they could be getting over 5% with treasuries and paying no state tax. They don't have to move from First Republic, but they should get their advisor to move the cash to treasuries. In case FRC fails, the assets would just be moved to another broker. If they have it in cash, they might not be made whole.
IDK. But there was a talking head on Wall Street Week (Bloomberg) saying that now is the time to buy regional banks at bargain prices. I recall people like Bill Miller saying the same just before the banking crisis of 2008. I guess they do not realize that long bonds are now toxic assets in a rising interest rate environment.
“Should I be worried about Bear Stearns in terms of liquidity and get my money out of there? No! No! No!smooth_rough wrote: ↑Fri Mar 10, 2023 8:53 pm Cramer touted SVB weeks before collapse.
https://www.foxnews.com/media/cnbcs-jim ... s-collapse
It doesn't matter if they are conservative if their loan book pays less than 3% and their depositors flee to other banks because FRC can't match the rates and must eat the losses on their loan portfolio and other investments. Currently they are paying 1.5% for accounts over $1 million. Would you stay with them?
They had large depositors who withdrew money all at once. Other banks have smaller depositors, but they are exposed to the same issue and could easily follow SVB.enad wrote: ↑Fri Mar 10, 2023 5:21 pm Gold is up today and there is an interesting story on Kitco with the headline: The dominos are starting to fall....
What would be interesting is why did this bank fail and not others? Were they over-extended in some manner. My understanding according to the news report on it is deposits up to $250K are insured, but those with deposits higher than $250K will receive a certificate that they may be able to redeem for some amount on the dollar once the assets are sold. Not good, and another reason to spread your deposits among different banks
FRB caters to high net worth individuals and it is paying 1.5% for savings accounts over $1 million. These are the types of people who will bolt in a second. Large banks like BoA cater to average net worth people who often don't have accounts large enough to worry about how much interest they might be losing. So FRB seems at much greater risk.simplesimon wrote: ↑Fri Mar 10, 2023 9:41 amI just took a look at FRB's 10K. The unrealized loss on its HTM portfolio is about 1/3 the book value of equity.CletusCaddy wrote: ↑Fri Mar 10, 2023 9:00 am First Republic Bank now down -50% today.
Smells like Lehman contagion to me.
Cash and AFS portfolio is about $7B against a $176B deposit base, so only 4% of deposits need to leave before FRB will need to do something to solve its liquidity issue.