The Rokslide Stock Traders Thread

[String&stick]

Am I misreading this, or are you saying it's easy to accumulate more than $250k in the bank?

No I'm staying that if you have over $250,000 it is easy to keep it in 1 bank and still have it covered by FDIC insurance if you are a normal person.

It is much harder to keep it covered if you are a corporation.

If you are a married couple it is easy to have FDIC insurance covering 1,000,000 in funds. Of course it's difficult to accumulate that much.

 

[safarihunter]

No I'm staying that if you have over $250,000 it is easy to keep it in 1 bank and still have it covered by FDIC insurance if you are a normal person.

It is much harder to keep it covered if you are a corporation.

If you are a married couple it is easy to have FDIC insurance covering 1,000,000 in funds. Of course it's difficult to accumulate that much.

Appreciate the clarification, I was busy thinking through the numbers in my head of "if I never invested money into my retirement account, and if I made the minimum payment on my house, how much would my wife and I have", and it was not coming out to anywhere close to $250k

 

[MountainTracker]

If nothing else good comes from this SVB debacle, I think a lot of people will at least start asking questions and thinking about the safety of their savings and maybe develop a strategy to protect it.
I know very little about banking, etc. but I damn sure started asking questions & I would encourage everyone else to do the same.
A few things I learned over the past few days:
Credit unions are a little different (obviously) than banks because they are owned by the members. They don't fall under the FDIC umbrella but instead NCUA, which is still backed by the US government up to $250k.

Every bank / CU will tell you up front "Oh you have nothing to worry about because we blah, blah blah" I'm sure that's what everyone thinks right before they collapse in less than 48 hours.

Confirm how much of your money is guaranteed & is it limited by account, by SSN, by entity, by title, etc.? How are trusts treated specifically? Look on the gov't websites & confirm.

It's amazing how few people you call can give you a direct, absolute honest straight forward answer.

I was told by the banks & CU that you are only covered up to $250k total for ALL of your accounts, not each one individually.
Joint accounts are treated separately & fall under another $250k umbrella. For example, if you have 3 kids you can open 3 joint accounts with each child & they would have $250k coverage also.

Brokerage accounts are different also because they fall under SPIC, not FDIC & was told they're guaranteed between $500k & $1.1 million.

Don't listen to me cause I don't know the answers but find out for yourself & do what you think is right for you.

Good advice, if you come across any good reading on the topic please share.

Quick google search shows, If you are married you can have multiple accounts at one bank and be covered up to 1 million.


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[zeroed]

I thought if you were married with a joint account it was insured to $500K.

 

[Kilboars]

Gold overall has been a poor investment over the last few years. It's fluctuated between about $1650 and $1935 with very little predictability.

I was told as a kid an ounce of gold is worth the cost of a fine Italian suit. Seems of held up to that much of my life


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[Kilboars]

I thought if you were married with a joint account it was insured to $500K.

I think that works if it’s in a trust and even an extra $250 for the trust itself. I may be wrong.


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[svivian]

I thought if you were married with a joint account it was insured to $500K.

FDIC insurance is $250,000 per SSN. So a joint account with two people would be $500,000

 

[Beendare]

Aft tri,

Brokerages like Schwab give you multiple options for money markets- you buy them just like you buy a mutual fund and you could trade in an out of them, but it takes one day to clear. These are very liquid with one day in and out.

You can get a higher return if you lock it in a longer-term bond or cd.

Personally, I have my extra cash in the Schwab US treasury money market. It’s paying a little lower percentage interest (4.2% vs 4.5% ) than their straight money market fund, but they are deriving the income from US treasuries and other US finance instruments.
Super safe.

 

[Beendare]

BTW,
The Wall Street Journal has a whole series of articles on this banking thing that are very interesting. It’s probably worth doing the 30 day free trial just to read that.

 

[Kilboars]

Also great on SVB

Silicon Valley Bank: What Happened and the Coming Fallout

Listen as CEO Peter Mallouk explains what happened with Silicon Valley Bank on Friday — and what the implications are for investors.

urldefense.proofpoint.com

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[aftriathlete]

Aft tri,

Brokerages like Schwab give you multiple options for money markets- you buy them just like you buy a mutual fund and you could trade in an out of them, but it takes one day to clear. These are very liquid with one day in and out.

You can get a higher return if you lock it in a longer-term bond or cd.

Personally, I have my extra cash in the Schwab US treasury money market. It’s paying a little lower percentage interest (4.2% vs 4.5% ) than their straight money market fund, but they are deriving the income from US treasuries and other US finance instruments.
Super safe.

The liquidity and safety are the main draws for me for MM funds right now. Now that my concerns about the safety have been resolved, I'm not moving anything at the moment.

So the CPI print came in right as analysts expected, and markets jumped today. So I guess there's the answer to my outstanding question yesterday. Interesting how oil is so down today, I think WTI reported a weekly draw too -- is oil the canary in the recession coal mine? Seasonality supports price increases in the near future, but have people changed their driving habits and their summer travel plans already because of prices?

Saw a painful figure today -- put the last two years of inflation into terms of the loss of value of the USD, and the USD has lost 17 cents of its value in the last two years.

 

[aftriathlete]

I acknowledge that ZeroHedge tends to have a slightly right of center take on things, but when it comes to financial matters I think they are generally equally critical of both sides of the aisle. So here's an interesting take on this "not bailout" on Sunday.

Yes, The Latest Bank Bailout Is Really A Bailout, And You Are Paying For It | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[DAOutfitters208]

Question for the experts on here. Thoughts on acquiring gold or silver as a safety net. It’s constantly pushed on talk radio, but I am skeptical of ads in general. I guess at the end of the day, what would be better to keep in a safe at home, cash or precious metal, or both?

 

[String&stick]

FDIC: Electronic Deposit Insurance Estimator (EDIE)

You can use this calculator and play with different ways to get different coverage amounts all at one bank. With different tools you can increase coverage significantly.

For those considering gold. . . Just remember there was a point in time where the government confiscated gold, so that may or may not be a "safe" bet

 

[Spoonbill]

Question for the experts on here. Thoughts on acquiring gold or silver as a safety net. It’s constantly pushed on talk radio, but I am skeptical of ads in general. I guess at the end of the day, what would be better to keep in a safe at home, cash or precious metal, or both?

Cash is never a bad idea. If the power goes out for multiple days, you can still buy things (in theory). I personally do not have gold but it can be exchanged for currency most places. I guess it depends on why you buy it and what purpose does owning gold serve for you.

 

[BBob]

Interesting how oil is so down today, I think WTI reported a weekly draw too -- is oil the canary in the recession coal mine? Seasonality supports price increases in the near future, but have people changed their driving habits and their summer travel plans already because of prices?

My take is the market makers are taking advantage of news, manipulating prices and picking up shares before the coming rise. I don't know anyone curtailing trips at home or abroad right now or for the summer. Lot's of normal folk I know hopping on planes just this week headed to Europe for the spring season.

 

[BBob]

Broke the $25500 ceiling, next is in the $28k, will it hold idk

And we are back.... Hit that resistance and time to see what's in store ahead. Let's see if this turns into support.
Big hole to fill ahead.

 

[MountainTracker]

And we are back.... Hit that resistance and time to see what's in store ahead. Let's see if this turns into support.
Big hole to fill ahead.
View attachment 530434

Haha so many memes to be had with that one haha wrong thread though.

Thanks for the chart


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[ThorM465]

My take is the market makers are taking advantage of news, manipulating prices and picking up shares before the coming rise. I don't know anyone curtailing trips at home or abroad right now or for the summer. Lot's of normal folk I know hopping on planes just this week headed to Europe for the spring season.

I read something this weekend that said in 09’ after Lehman brothers failed, the market recovered 11% the day after the bailouts were announced… The market was still 30% from the bottom at that point.

I’m betting that we’re looking at a dead cat bounce and we haven’t seen the bottom yet.

 

[Crowmangler]

Question for the experts on here. Thoughts on acquiring gold or silver as a safety net. It’s constantly pushed on talk radio, but I am skeptical of ads in general. I guess at the end of the day, what would be better to keep in a safe at home, cash or precious metal, or both?

*NOT an expert* here but have messed around with them for a several years. One thing you need to ask yourself is what is my reason / purpose for owning them? Safety net for investing or for bartering when SHTF?

I'm personally not a big fan of them just for investing. Bullion is more bang for the buck in terms of just acquiring volume. Govt issued/ collector coins may give better return on paper but they're only "worth" what someone is willing to pay you. I'd recommend buying from someone like JM Bullion or similar. Low premiums to buy & who has an easy buyback program that pays spot prices.
If you deal with the strip mall type dealers you typically pay a bigger premium up front & they're only gonna pay you 10-15% less than spot price to buy back. So basically it has to go up 20-30% just to break even.

I would keep some of both on hand. 1 ounce silver rounds would be great for bartering if it came to that.
But you can't eat silver or cash & you can't defend your family with it either.