Search found 970 matches

by Makaveli
Wed Mar 27, 2024 8:08 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7763
Views: 1351359

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Positive tasty trade experience:

Transferred my rIRA.
Later read that retirement accounts don’t apply.
Emailed their help desk detailing my mistake.
They offered to deposit $2k to a brokerage account (open another account).
I said happily.
by Makaveli
Thu Mar 21, 2024 1:25 pm
Forum: Investing - Theory, News & General
Topic: Dangers of excessive optimism?
Replies: 86
Views: 6677

Re: Dangers of excessive optimism?

Perhaps a good time for each person to reflect on their need/ability/willingness to take risk. These past ten years have made many, many multi-millionaires. I sure know I'm considering - what is enough?
by Makaveli
Thu Mar 21, 2024 10:56 am
Forum: Personal Investments
Topic: VTIAX vs. VXUS ER (.11% vs .07%)
Replies: 23
Views: 3326

Re: VTIAX vs. VXUS ER (.11% vs .07%)

retired@50 wrote: Thu Mar 21, 2024 9:35 am
Makaveli wrote: Thu Mar 21, 2024 9:08 am Doing my routine check on ER's and noticed that VXUS ER went UP to 0.08%. What's the deal?
VTIAX is up too, it's at 0.12% now.

Maybe some of the foreign markets are getting more expensive to trade in... I can't say it will change my portfolio in any meaningful way, so I'll do my best to ignore it for now.

Regards,
Agree, figure this was a one-way trend though. More assets, lower overall ER.
by Makaveli
Thu Mar 21, 2024 9:08 am
Forum: Personal Investments
Topic: VTIAX vs. VXUS ER (.11% vs .07%)
Replies: 23
Views: 3326

Re: VTIAX vs. VXUS ER (.11% vs .07%)

duplicate
by Makaveli
Thu Mar 21, 2024 9:08 am
Forum: Personal Investments
Topic: VTIAX vs. VXUS ER (.11% vs .07%)
Replies: 23
Views: 3326

Re: VTIAX vs. VXUS ER (.11% vs .07%)

Doing my routine check on ER's and noticed that VXUS ER went UP to 0.08%. What's the deal?
by Makaveli
Tue Mar 12, 2024 7:56 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7763
Views: 1351359

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Streetheat is back, a 1.25% bonus at $100k, not including the $159 annual fee for them to do some AI mumbo jumbo on your money (which you can decline, although that doesn’t stop you from paying the fee): https://www.doctorofcredit.com/streetbeat-up-to-14000-brokerage-bonus/ One year hold time on a small broker is not great though. And other brokers won’t use them as a competitive match because they are so new and untested. I’m seriously considering biting on the offer. Does anyone here have an account with them? How did the acat transfer and basis work? Ease of use? ACH of cash? Thanks. Potentially analogous, I jumped on the PUBLIC $10,000 promotion (early days) when people were leery. Platform was great, customer service was great, and bo...
by Makaveli
Wed Feb 28, 2024 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: The Final, Definitive Thread on Bank Bonuses
Replies: 122
Views: 17186

Re: The Final, Definitive Thread on Bank Bonuses

Makaveli wrote: Wed Feb 28, 2024 9:03 am
whodidntante wrote: Fri Jan 19, 2024 7:02 pm I just opened a US Bank checking account for an easy $500.
Looks like $800 is available for checking and savings account openings.
However, unfortunately not in Texas.
by Makaveli
Wed Feb 28, 2024 9:03 am
Forum: Personal Finance (Not Investing)
Topic: The Final, Definitive Thread on Bank Bonuses
Replies: 122
Views: 17186

Re: The Final, Definitive Thread on Bank Bonuses

whodidntante wrote: Fri Jan 19, 2024 7:02 pm I just opened a US Bank checking account for an easy $500.
Looks like $800 is available for checking and savings account openings.
by Makaveli
Wed Feb 28, 2024 8:55 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7763
Views: 1351359

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

rbd789 wrote: Wed Feb 28, 2024 7:52 am
Makaveli wrote: Wed Feb 28, 2024 4:33 am Is anyone taking this a step beyond brokerage bonuses? I have some unexpected cash on the sidelines and looked into savings/checkings promotions at various regional/local banks. It looks like $5-$25k with 60-90 day lock up can get one $400-$500 per bank.

Another way to make a couple thousand when your cash is parked and earning (ideally) 4-5% APY.
LaurenRose wrote: Wed Feb 28, 2024 7:15 am Do you mind sharing the names of those banks who are offering such deals?
You might want to continue that discussion on the thread on bank bonuses
viewtopic.php?p=7176559#p7176559
Nice! Thanks for the pointer.
by Makaveli
Wed Feb 28, 2024 4:33 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7763
Views: 1351359

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Is anyone taking this a step beyond brokerage bonuses? I have some unexpected cash on the sidelines and looked into savings/checkings promotions at various regional/local banks. It looks like $5-$25k with 60-90 day lock up can get one $400-$500 per bank.

Another way to make a couple thousand when your cash is parked and earning (ideally) 4-5% APY.
by Makaveli
Sun Dec 31, 2023 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Pre Nup, Late 30's
Replies: 11
Views: 1365

Pre Nup, Late 30's

My fiancé and I had the pre-nup talk which ended with her asking for space to process. I told her I understand and am providing that space. Some remarks made throughout the conversation:

"I get it."
"What would you do if I do not sign?"
"I will not sign."

I'd presume pretty standard responses and questions.

I'm seeking guidance on how to address items from here. I view marriage as a lifelong commitment. My family has no history of divorce; however, her side it's more the norm than the exception. My goal is to be financially responsible, ensure both of us are protected, and nurture a healthy marriage.
by Makaveli
Fri Nov 03, 2023 6:06 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7763
Views: 1351359

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

FYI, PUBLIC is making a pass at retaining my assets. I've countered to match Chase Private Client's $3,000 offer. Curious what they'll say. "I hope you’re having a great week. I wanted to reach out to you about a custom bonus offer for you as a top Public investor. If you deposit or transfer $100,000 or more in additional assets in the next month and maintain your existing holdings with Public, we’re able to offer you an enhanced bonus compared to our typical ACAT promotion." Your personalized offer: Transfer Amount Bonus $100,000 - $249,999 $730 $250,000 - $499,999 $1,170 $500,000 - $999,999 $2,200 $1,000,000 - $4,999,999 $4,215 $5,000,000+ $10,255 I guess they got tired of all the transfer outs and decided to start doing it, th...
by Makaveli
Thu Nov 02, 2023 10:30 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7763
Views: 1351359

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

FYI, PUBLIC is making a pass at retaining my assets. I've countered to match Chase Private Client's $3,000 offer. Curious what they'll say. "I hope you’re having a great week. I wanted to reach out to you about a custom bonus offer for you as a top Public investor. If you deposit or transfer $100,000 or more in additional assets in the next month and maintain your existing holdings with Public, we’re able to offer you an enhanced bonus compared to our typical ACAT promotion." Your personalized offer: Transfer Amount Bonus $100,000 - $249,999 $730 $250,000 - $499,999 $1,170 $500,000 - $999,999 $2,200 $1,000,000 - $4,999,999 $4,215 $5,000,000+ $10,255 I guess they got tired of all the transfer outs and decided to start doing it, th...
by Makaveli
Wed Nov 01, 2023 10:21 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7763
Views: 1351359

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

FYI, PUBLIC is making a pass at retaining my assets. I've countered to match Chase Private Client's $3,000 offer. Curious what they'll say.

"I hope you’re having a great week. I wanted to reach out to you about a custom bonus offer for you as a top Public investor. If you deposit or transfer $100,000 or more in additional assets in the next month and maintain your existing holdings with Public, we’re able to offer you an enhanced bonus compared to our typical ACAT promotion."

Your personalized offer:

Transfer Amount Bonus
$100,000 - $249,999 $730
$250,000 - $499,999 $1,170
$500,000 - $999,999 $2,200
$1,000,000 - $4,999,999 $4,215
$5,000,000+ $10,255
by Makaveli
Wed Oct 18, 2023 10:20 pm
Forum: Investing - Theory, News & General
Topic: Treasuries Today - What duration are you buying?
Replies: 128
Views: 23152

Re: Treasuries Today - What duration are you buying?

Sometimes I wish topics like these would add an age component. I don’t know if this thread is dominated by > 55 YO or if there’s a contingent of < 40 YO. As someone in the latter, I haven’t spent much time on fixed income (hence total bond fund) yet continue to follow these threads in case there’s something smart to act upon. So some context would help.
by Makaveli
Fri Sep 15, 2023 11:47 am
Forum: US Chapters
Topic: Houston Chapter
Replies: 140
Views: 58585

Re: Houston Chapter

Following
by Makaveli
Fri Sep 15, 2023 8:04 am
Forum: Investing - Theory, News & General
Topic: Private Equity Groups and Total Stock Market
Replies: 46
Views: 4806

Re: Private Equity Groups and Total Stock Market

The bottom line--per many of the posts above--is that private equity is not a good investment. So...what are you talking about? You seem to be missing the point here. PE may not be a good investment from the outside. If you’re on the inside (employee at PE company) and can invest your own dollars heads up with the parent company, then it’s a different story. This is interesting. I have no reason to doubt you. But could you post some verifiable stats on what the ROI is for those who work in PE and invest in their own companies? Only a few sample points, myself and two other colleagues at PE firms. Nothings final until the exit yet we’re in a great place at the moment. Likely 3x ROI. One colleague isn’t doing as well, probably 1x or less. Th...
by Makaveli
Thu Sep 14, 2023 8:41 pm
Forum: Investing - Theory, News & General
Topic: Private Equity Groups and Total Stock Market
Replies: 46
Views: 4806

Re: Private Equity Groups and Total Stock Market

If private equity is such a rip-off--and I don't doubt it is--why do so many rich people invest in it? :confused Exclusivity. Huh [shaking head in incredulity]. On a more serious note, why does one invest in a mutual fund? A mutual fund is a investment structure, PE is a investment structure. Nobody invests because of the investment structure. Just like there are many different flavors of mutual funds, there are many different flavors of private equity. Some promise stellar returns like a lotto ticket, others promise something slower and steadier. There are parts of the market where large public companies just don’t thrive. So often a promise of higher returns than a similar public companies with a low correlation. The bottom line--per man...
by Makaveli
Mon Sep 04, 2023 1:13 pm
Forum: Personal Investments
Topic: Is my personal situation sound?
Replies: 50
Views: 4157

Re: Is my personal situation sound?

KlangFool wrote: Sun Sep 03, 2023 6:03 pm
xamuhs wrote: Sun Sep 03, 2023 5:58 pm
KlangFool wrote: Sun Sep 03, 2023 5:56 pm
xamuhs wrote: Sun Sep 03, 2023 1:48 pm
401k - $1,500,000
Company Stock for a Company one of us works for - $555k. The yield is around 5%. It pays about $.65/share every quarter. So, a nice steady income stream.
Mutual funds - $806k
IRA - $400k
HSA - $78k
Emergency fund: $38k.
Please add up all the numbers. Except HSA and EF, what is your total portfolio size?

KlangFool
You can add the numbers up - they are above. $3.2m.
Signing off for this thread. Bye.

KlangFool
Signed in to agree, this reply put me off too. If you’re asking for help, consolidate the information and make it easy on the people that are trying to help (for free).
by Makaveli
Mon Sep 04, 2023 7:10 am
Forum: Personal Investments
Topic: Investing part of portfolio in individual stocks
Replies: 57
Views: 5865

Re: Investing part of portfolio in individual stocks

Tldr;

My suspicion is if you choose individual stocks, you’ll spend 99% of the time tracking/worrying about them.

Keep it simple. Go live. Find excitement elsewhere.
by Makaveli
Fri Aug 11, 2023 5:52 am
Forum: Personal Finance (Not Investing)
Topic: Help! Dads Health is Degrading: Aupair Senior Caregiver
Replies: 34
Views: 4367

Re: Help! Dads Health is Degrading: Aupair Senior Caregiver

They do not have the resources to pay normal US rates for full time in-home care. without knowing the particulars of their resources, all i can say is he "might" qualify for in home care through medicaid, called home and community based services or waiver (aging waiver) depending on what state he lives in. What State does he live in? They live in Wisconsin. It sounds like aupair is not an option, disappointing. Most post seem to be triangulating around Medicaid. I’ll get with my parents venture down that path for now. In the interim, getting an electric wheel chair and in home lift system to ease the burden on my mom. Temporary solutions. Appreciate the advice & kind words from those who have, or are currently, going through ...
by Makaveli
Thu Aug 10, 2023 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Help! Dads Health is Degrading: Aupair Senior Caregiver
Replies: 34
Views: 4367

Re: Help! Dads Health is Degrading: Aupair Senior Caregiver

BarbBrooklyn wrote: Thu Aug 10, 2023 8:23 am I hope this is not construed as medical advice, but I would get him to a major teaching hospital/Mayo/Cleveland Clinic to get a thorough diagnostic work-up.
We've recently moved him to Mayo.
by Makaveli
Thu Aug 10, 2023 7:28 am
Forum: Personal Finance (Not Investing)
Topic: Help! Dads Health is Degrading: Aupair Senior Caregiver
Replies: 34
Views: 4367

Re: Help! Dads Health is Degrading: Aupair Senior Caregiver

clip651 wrote: Thu Aug 10, 2023 7:17 am Also, are there other family members who can help? With day to day tasks of caregiving, and/or financially to help them afford care?
One of three children live within one mile yet has two young kids. He's extremely helpful yet unable to provide the care that's needed.
The other two live out of state.
A few of us are in a position to help financially; however, my parents are unwilling to accept.
by Makaveli
Thu Aug 10, 2023 7:22 am
Forum: Personal Finance (Not Investing)
Topic: Help! Dads Health is Degrading: Aupair Senior Caregiver
Replies: 34
Views: 4367

Re: Help! Dads Health is Degrading: Aupair Senior Caregiver

Is your parents’ home set up for caregivers to safely provide in-home care? Look into lift assists for toileting and transferring. Family caregivers or aides use these to safely assist people no longer able to lift themselves. The care facilities that I am familiar with require two aides to move someone without a lift. If your mom can no longer move your dad, a single aide may not be able to do so safely. To help care for your dad in-home, look into wheelchairs, hospital beds, ramps for exiting home, and home modifications to areas like bathrooms and doorways. Thanks all for the responses. A few hours of google searches resulted in the following: https://www.aupair.com/en/p-au-pair-alternatives-and-differences.php#nanny So yes, very simila...
by Makaveli
Wed Aug 09, 2023 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Help! Dads Health is Degrading: Aupair Senior Caregiver
Replies: 34
Views: 4367

Help! Dads Health is Degrading: Aupair Senior Caregiver

My father's (69) health is degrading rapidly. Loss of mobility in three limbs. Strongly prefers in-home care over being admitted to a facility. My mom (65) is no longer capable of lifting/transporting him.

They can not afford US in-home care. Does anyone have experience or recommendations for a service agency that can match us with an in-home aupair senior caregiver?
by Makaveli
Sun Jul 16, 2023 8:28 am
Forum: Investing - Theory, News & General
Topic: Is International allocation even a thing?
Replies: 190
Views: 16045

Re: Is International allocation even a thing?

This. It is fine to allocate to international, and fine to not allocate. But changing allocations because of chasing returns is likely going to be costly. Stay the course and stick to your plan. This is the position I’m in. I’ve held international for 13 years @ 30% eq position. Holding and staying the course yet happy to admit that I’ve seriously been considering letting that drift to 20% (no selling). That new balance would take 2-3 years with new contributions. That's not sticking to your plan though. Maybe less sinning that selling low but in the same ballpark. Hence considering. Knowing myself, half the fun is chewing on an idea. Letting it marinate. Understand it. Then in most cases, do little. Did you rebalance early on when you dec...
by Makaveli
Sun Jul 16, 2023 8:15 am
Forum: Investing - Theory, News & General
Topic: Is International allocation even a thing?
Replies: 190
Views: 16045

Re: Is International allocation even a thing?

The issue you need to settle is not a) whether you should have an international allocation. The issue you need to settle is b) having decided to hold an international allocation, should you change it? And, if so, when, and why? This. It is fine to allocate to international, and fine to not allocate. But changing allocations because of chasing returns is likely going to be costly. Stay the course and stick to your plan. This is the position I’m in. I’ve held international for 13 years @ 30% eq position. Holding and staying the course yet happy to admit that I’ve seriously been considering letting that drift to 20% (no selling). That new balance would take 2-3 years with new contributions. That's not sticking to your plan though. Maybe less ...
by Makaveli
Sun Jul 16, 2023 8:01 am
Forum: Investing - Theory, News & General
Topic: Is International allocation even a thing?
Replies: 190
Views: 16045

Re: Is International allocation even a thing?

Harmanic wrote: Sat Jul 15, 2023 3:47 pm
nisiprius wrote: Sat Jul 15, 2023 3:45 pm The issue you need to settle is not

a) whether you should have an international allocation.

The issue you need to settle is

b) having decided to hold an international allocation, should you change it? And, if so, when, and why?
This.

It is fine to allocate to international, and fine to not allocate. But changing allocations because of chasing returns is likely going to be costly. Stay the course and stick to your plan.
This is the position I’m in. I’ve held international for 13 years @ 30% eq position. Holding and staying the course yet happy to admit that I’ve seriously been considering letting that drift to 20% (no selling). That new balance would take 2-3 years with new contributions.
by Makaveli
Sun Jul 16, 2023 7:28 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7763
Views: 1351359

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

https://www.doctorofcredit.com/chase-1250-bonus-for-upgrading-to-chase-private-client/ Anybody tried this yet? The comments are saying you can open a Full Service Self Directed account and avoid the managed account to get this bonus. I'm looking to try this. Yes. It is correct. I did this bonus a few years ago with a full service no-fee self directed account. What is a full service, no fee, self directed account? The offer I got in the mail excludes just about everything - including a self-directed account. I think when Chase says self-directed account, it meant Chase You Invest which does not qualify. You can open a JP Morgan account without AUM fees. I did with a private JP Morgan advisor in branch. There is no fee at all. No trading fee...
by Makaveli
Fri Jun 23, 2023 9:17 am
Forum: Investing - Theory, News & General
Topic: "Are You Questioning Your Foreign Stock Funds?"
Replies: 122
Views: 12575

Re: "Are You Questioning Your Foreign Stock Funds?"

If you question one highly diversified part of your portfolio (thousands of stocks in dozens of countries) when it has poor performance, you are doing what other investors with no financial knowledge do - they try to "fix" it by selling the underperforming asset and buying the outperforming asset. Then they come up with some kind of rationalization which usually involves them making a prediction of the future (the underperforming asset will always underperform and the overperforming asset will always outperform). I hear you and am factoring in recency and home-country bias. Zeihan may be wrong. Frankly I hope he is. However, he makes a very convincing argument (to me) that the past 60 years have been a fluke. And consequently, ma...
by Makaveli
Thu Jun 22, 2023 3:39 pm
Forum: Investing - Theory, News & General
Topic: "Are You Questioning Your Foreign Stock Funds?"
Replies: 122
Views: 12575

Re: "Are You Questioning Your Foreign Stock Funds?"

If you question one highly diversified part of your portfolio (thousands of stocks in dozens of countries) when it has poor performance, you are doing what other investors with no financial knowledge do - they try to "fix" it by selling the underperforming asset and buying the outperforming asset. Then they come up with some kind of rationalization which usually involves them making a prediction of the future (the underperforming asset will always underperform and the overperforming asset will always outperform). I hear you and am factoring in recency and home-country bias. Zeihan may be wrong. Frankly I hope he is. However, he makes a very convincing argument (to me) that the past 60 years have been a fluke. And consequently, ma...
by Makaveli
Thu Jun 22, 2023 2:46 pm
Forum: Investing - Theory, News & General
Topic: "Are You Questioning Your Foreign Stock Funds?"
Replies: 122
Views: 12575

Re: "Are You Questioning Your Foreign Stock Funds?"

If you question one highly diversified part of your portfolio (thousands of stocks in dozens of countries) when it has poor performance, you are doing what other investors with no financial knowledge do - they try to "fix" it by selling the underperforming asset and buying the outperforming asset. Then they come up with some kind of rationalization which usually involves them making a prediction of the future (the underperforming asset will always underperform and the overperforming asset will always outperform). I hear you and am factoring in recency and home-country bias. Zeihan may be wrong. Frankly I hope he is. However, he makes a very convincing argument (to me) that the past 60 years have been a fluke. And consequently, ma...
by Makaveli
Thu Jun 22, 2023 12:30 pm
Forum: Investing - Theory, News & General
Topic: "Are You Questioning Your Foreign Stock Funds?"
Replies: 122
Views: 12575

Re: "Are You Questioning Your Foreign Stock Funds?"

Marseille07 wrote: Thu Jun 22, 2023 10:03 am
secondopinion wrote: Thu Jun 22, 2023 8:54 am I am not convinced.
It's all about money flow. Foreign investors love to invest in the US markets; the reverse isn't true. Although, Buffett bought shares of Japanese trading houses recently and other investors are following suit, elevating Nikkei.
Zeihan comments on this in detail. Money flight to the US has averaged 1.0-1.5T per year for the recent past. And it should only be increasing in the future as the world moves away from globalization and into localized alliances.
by Makaveli
Thu Jun 22, 2023 8:47 am
Forum: Investing - Theory, News & General
Topic: "Are You Questioning Your Foreign Stock Funds?"
Replies: 122
Views: 12575

Re: "Are You Questioning Your Foreign Stock Funds?"

Yes I am! My position has been that USA investors should use 100% USA domicled stocks. Non-USA investors should use a global equity allocation. I now think non-USA investors should MAYBE go 100% USA stocks. I've been watching a lot of Peter Zeihan and George Friedman during this pandemic. Both of these guys believe the USA needs no other country. And that every other country desperately needs it. This is why we see the USA stepping back from Europe and Asia. And really. Who else does the Canada/USA/Mexico trading block REALLY need? This trading block can tell the rest of the world to "pound sand". Reviving an old thread as I've been reading Zeihan's last three books. Have you read his latest "The End of the World...". H...
by Makaveli
Fri Feb 24, 2023 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: Thinking of pursuing CFP certificate. Any advice from those in the field?
Replies: 11
Views: 1250

Re: Thinking of pursuing CFP certificate. Any advice from those in the field?

Thanks to everyone who's posted. I should clarify that I dislike the notion of charging fees based on AUM and would go down the fee-only path as that aligns with my own personal values. I, personally, don't want to manage a client's account but would rather provide the advice and let them execute to their heart's content. This might not be the way to get rich but I'll sleep at night. I hadn't realized so much work would be in sales. That makes me re-think the whole aspect but I'll continue to talk to real CFPs (including my own) and monitor this thread. I should also add that I'm not necessarily targeting financial advisor status but rather financial planner status. Maybe the difference is moot. That line would lead you to a team approach....
by Makaveli
Fri Feb 24, 2023 5:02 pm
Forum: Personal Finance (Not Investing)
Topic: Thinking of pursuing CFP certificate. Any advice from those in the field?
Replies: 11
Views: 1250

Re: Thinking of pursuing CFP certificate. Any advice from those in the field?

I went down a similar road 5 years ago. Left the energy space, went into wealth management, secured my Series 7 & 66, etc.

I lasted a year. Chose to do a standalone practice vs team. 350 calls per day. It was a grind. Definitely more sales oriented until the book of business has a strong foundation and/or growing organically. I had $5mm under management and another $50mm in the pipeline. In my branch, every person that lasted for 7-8 years was a million dollar producer, year in and year out. A fraction of a fraction make it that far.

For me, the energy space offered a much easier path. Bogleheads scratches my itch to help others.

This isn’t a post to scare you away. Collect the data and go in eyes open. Good luck!
by Makaveli
Wed Feb 22, 2023 8:08 pm
Forum: Personal Consumer Issues
Topic: Casino Trip, Sports Bet Promo
Replies: 22
Views: 1969

Re: Casino Trip, Sports Bet Promo

jebmke wrote: Wed Feb 22, 2023 7:59 pm What's to discuss? It isn't a permission thread. It isn't even a rant.
It's more of a share I suppose, in case others find it of interest. With the outside hope that some quant will calculate the EV difference between BJ/Craps and this wager.
by Makaveli
Wed Feb 22, 2023 7:53 pm
Forum: Personal Consumer Issues
Topic: Casino Trip, Sports Bet Promo
Replies: 22
Views: 1969

Casino Trip, Sports Bet Promo

Please save the rhetoric of don't gamble. It's one of my fun splurges, otherwise an extreme saver.

Barstool currently has a Sports Bet Promo for first time betters.

It works like this:

Bet $1k, win $1k, that's it.
Bet $1k, lose bet, free $1k bet received.
Place free $1k bet, win, it's yours.
Place free $1k bet, lose, that's it.

50% of the time you win 1k
25% of the time you breakeven
25% of the time you lose 1k

Odds can not go below -200.

Relative to table games, this seem like a far superior option.

Floors open for discussion.
by Makaveli
Sun Feb 19, 2023 10:06 pm
Forum: Personal Finance (Not Investing)
Topic: Have the Cash. Should I purchase/finance my car
Replies: 64
Views: 6859

Re: Have the Cash. Should I purchase/finance my car

For such a simple question this sure went off the rails.

Must mean times are good (or better) in the markets.
by Makaveli
Sat Feb 18, 2023 9:11 pm
Forum: Personal Finance (Not Investing)
Topic: Have the Cash. Should I purchase/finance my car
Replies: 64
Views: 6859

Re: Have the Cash. Should I purchase/finance my car

I purchased a car today and used financing (6.99%) as a tool to negotiate price. Once you leave the dealership you can pay it off in full or re-fi at lower rate.

Also consider using a new credit card for down payment. I captured a $750 bonus +points on that tactic.
by Makaveli
Wed Jan 18, 2023 8:20 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7763
Views: 1351359

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Public fixed my cost basis. But again, it came in correctly, then 4 days later was mysteriously wrong (in a disadvantageous fashion), and now 5 days after that they were able to fix it. I have no confidence it will remain correct. Be vigilant. I am disheartened to report that my cost basis reset to the incorrect value *a.g.a.i.n* (came in correctly, 4 days later was wrong, 5 days after that fixed, 8 days after that I checked again and it's wrong again). Just a PSA, watch your Apex/Public cost bases like a hawk. Yes, my cost basis is off also from one of my accounts. Assets from trade have the correct cost basis. Assets that came from Chase you invest did not transfer at all :(. The fact is, when doing transfers one should always copy the c...
by Makaveli
Tue Jan 10, 2023 10:14 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7763
Views: 1351359

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Public update: Assets transferred in. Transfer fees refunded. Contacted that I qualified for full bonus. Should deposit within 1 month (others experience is within days). Securities lending turned OFF, Public confirmed this within hours. APEX clearing house login created and securities are seen there. Happy to address any questions of my experience thus far. $10,000 bonus has been deposited. Thanks for reporting. Removed half the bonus which went smooth, processed and transferred within 3 days. Two simple clicks. So you didn't have to hold the bonus for any particular length of time at Public before removing? Thx No idea, never even thought of that tbh. I haven’t received a message or notice from them yet. Perhaps because I’ve been DCA’ing...
by Makaveli
Tue Jan 10, 2023 1:29 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7763
Views: 1351359

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

student wrote: Wed Dec 21, 2022 12:34 pm
Makaveli wrote: Wed Dec 21, 2022 10:39 am
Makaveli wrote: Tue Nov 29, 2022 10:05 pm Public update:

Assets transferred in.
Transfer fees refunded.
Contacted that I qualified for full bonus.
Should deposit within 1 month (others experience is within days).
Securities lending turned OFF, Public confirmed this within hours.
APEX clearing house login created and securities are seen there.

Happy to address any questions of my experience thus far.
$10,000 bonus has been deposited.
Thanks for reporting.
Removed half the bonus which went smooth, processed and transferred within 3 days. Two simple clicks.
by Makaveli
Sun Jan 08, 2023 6:32 pm
Forum: Personal Investments
Topic: Cash Call
Replies: 27
Views: 3404

Re: Cash Call

Okay got it. Are you young and single? Most of your human capital value tied to future income in this space vs. already monetized and a part of your net worth? How much does a doubled commitment represent as a % of your annual income? Do you have carry? If you’re young/unattached, a junior part of the investing team, have relatively low net worth relative to your income, and don’t have carry then go for it. Usual caveat this is not investing advice don’t rely on it. I would’ve done it. It’s your money. You know the risks. You believe in the deal. You don’t have the asymmetric upside exposure that carry provides. And if you lose it’s not going to be a huge setback even at 12% of your NW given your future prospects. But if it hits these sort...
by Makaveli
Sun Jan 08, 2023 6:20 pm
Forum: Personal Investments
Topic: Cash Call
Replies: 27
Views: 3404

Re: Cash Call

I gather you cannot open an account at another broker, say IB, and use margin? If you are part of the PE firm, do you get a break on fees? I understand that they want partners, even the junior people, to have skin in the game. The problem is that you do not have the cash to meet the cash call. This implies that you are in very different circumstances than the senior partners. How many deals does the firm do? Can you 1x this one, raising the money as efficiently as possible, then invest in the next ones that come along as your assets grow? We are worried that a failure of this investment could put you in a deep hole. Even worse if you take out a loan to participate. On the other hand, you seem comfortable with risk. Just ask yourself where ...
by Makaveli
Sun Jan 08, 2023 9:04 am
Forum: Personal Investments
Topic: Cash Call
Replies: 27
Views: 3404

Re: Cash Call - Private Equity

No such thing as a free lunch. Is this a private credit fund? What exactly is the nature of the hedge that makes you so sure of the 2x min return? I’m confused by the underlying deal and security, and I work in this industry. Deals with this profile should and normally are competed away by sponsors willing to bid that to a 1x downside (or lower). I get it sometimes they happen. But something smells funny about this explanation and I’m skeptical of anything being a sure 2x on the downside. So should you. If you insist on proceeding (or are already locked into the capital commitment) I’d reallocate from other risky assets ideally using TLH or another method to minimize tax breakage. I would not add leverage. I would not sell I-bonds or any o...
by Makaveli
Sun Jan 08, 2023 8:59 am
Forum: Personal Investments
Topic: Cash Call
Replies: 27
Views: 3404

Re: Cash Call - Private Equity

technovelist wrote: Sun Jan 08, 2023 12:40 am I'll ask you what I asked my dentist when he told me about a sure-fire way to make a big profit.
"Why are they selling this to you if it's that good? Why don't they keep it for themselves?"
He couldn't answer those questions.

He got his clock cleaned.
This was explained in an earlier post. I am not being sold this opportunity. I'm a relatively small fish that requested to double my position in a company we all work at. Which yes, technically these dollars are siphoned from the managing partners commitment yet to them it's immaterial. For context, my 2X equates to 1% of their cash call.
by Makaveli
Sat Jan 07, 2023 11:28 pm
Forum: Personal Investments
Topic: Cash Call
Replies: 27
Views: 3404

Re: Cash Call - Private Equity

mikejuss wrote: Sat Jan 07, 2023 10:02 pm Please explain how the "returns [are] locked in," OP?
Nothings truly locked in until it’s in the account. I’m with you on that. Rather, I meant the investments downside is hedged appropriately where the floor is essentially set.
by Makaveli
Sat Jan 07, 2023 9:57 pm
Forum: Personal Investments
Topic: Cash Call
Replies: 27
Views: 3404

Re: Cash Call - Private Equity

MKE262 wrote: Sat Jan 07, 2023 1:59 pm Is this a co-invest opportunity because you are part of the management team of the portco or an advisor to the PE fund?

Are you a qualified purchaser?

If you answered yes to both, go ahead and TLH the funds. If not, ask yourself why are they giving you the opportunity to 2x into this venture.
Mr. Milwaukee, replies above answer your questions. Appreciate the insightfulness and asking the right questions.
by Makaveli
Sat Jan 07, 2023 9:56 pm
Forum: Personal Investments
Topic: Cash Call
Replies: 27
Views: 3404

Re: Cash Call - Private Equity

No access to lines of credit via margin so a more traditional bank loan Anyone else bothered by this? Why no access? Not enough money in the account to qualify for ANY margin loan? Not nearly enough for a loan the size needed? In either case, it sounds like too concentrated a risk. And yes, I am not buying that this is free of risk. I agree that I am highly skeptical of locked in returns. If that is true, why use this process for raising the money? I was snookered into PUBLICs brokerage bonus and their platform doesn't offer margin. The process is a cash call. Essentially the sponsors method of ensuring the management team has meaningful skin in the game. Generally speaking, they desire key members to have 10-20% of their NW invested.