I-Bond Rate, 5/1/22-10/31/22 Many brokerages provide cash management services as if they were real banks. For example, Fidelity accounts offer checking ant debit card services. But those services are provided by UMB Bank (routing number
10
120568
1is associated with
UMB Bank, KS).
Fidelity says that its "accounts are
considered a checking account for direct debit purposes."
A few institutions will link only to real banks, not to these pseudo "bank" accounts. I don't have any problems linking Treasury Direct to such accounts. So it doesn't look like Treasury Direct is one of those few picky institutions.
On the other end of the spectrum are real brick and mortar banks with lots of branches. Such as Chase, or TD Bank that is "one of the
10 largest banks in the U.S" and "a subsidiary of The Toronto-Dominion Bank of Toronto, Canada". They are FDIC insured, unlike brokerage accounts masquerading as checking accounts.
https://www.tdbank.com/aboutus/investor_relations.htmlWhen it comes to Schwab, Schwab Bank is a real, FDIC-insured bank, separate from but affiliated with the broker-dealer Charles Schwab & Co. "Affiliated" here means that they are both owned by the same parent company, The Charles Schwab Corporation.
https://www.schwab.com/savingsBut the Schwab One brokerage account (as opposed to the
HY checking account) appears to operate as a pseudo "bank" account. The account disclosure says that "Checking account and Debit Card services provided by the Bank". And it defines "Bank" to be "BNY Mellon Investment Servicing Trust (IST) Company and/or its affiliates, the entity responsible for administering the Bank Services."
https://www.schwab.com/legal/schwab-one-account-agreementThen there are internet-only banks (e.g. Ally Bank). In theory that shouldn't make any difference in the context of electronic transfers as opposed to walk-in services. One doesn't walk into a bank to set up a domestic EFT link.
What happened to Gabelli Value 25 (GABVX) in April 2021? If you go here
https://stockcharts.com/h-perf/uiand put in, for 2y or perhaps a bit less, GABVX plus such comparisons as you wish (VBR, VONV), you can get a picture of the strange spike and comedown (while still doing better than VONV). Until. The real dismay comes from its underperformance the last
10-
11mos and especially since the summer.
What happened to Gabelli Value 25 (GABVX) in April 2021? Are you catching up with March/April 2021?
Anyway, GABVX is a focused MC-blend, but has high exposure to SC; it also has exposure to M&A deals. So, SP500 isn't a good benchmark for it. As it has only 25 stocks, you will have to dig into those for the week of March 22-26, 2021 (you may have to check SEC/Edgar filings for its portfolio around then). But it looks like that week there was a selloff Mon-Wed that hit SC vary hard, and GABVX went down hard. But when things rebounded Th-FRI, GABVX kept falling - that can happen with concentrated positions.
What happened to Gabelli Value 25 (GABVX) in April 2021? On Monday March 22, 2021 it was $16.46, and by Friday March 26, 2021 (same week) it was $14.92 for a loss of 9.4%.
Vanguard Index 500 (VFIAX) was up 0.5% in the same week, and that's not even including a distribution that was paid. There were no GABVX distributions paid in that week.
If you own or track GABVX do you know what happened that week that caused such a sudden correction? I'm just curious.
thanks!
Classic stock and bond mix no longer makes sense. Do this instead says BlackRock’s Rick Rieder I was very leery of VWINX and other "allocation" funds. Everyone knew the stock market was close to peak PE, but when interest rates were so low last year, the protection bonds offered in the past disappeared, especially as VWINX duration is still 5 to 7 years.
I don't understand why they didn't move rapidly into short term bonds and cash. The bonds they held were almost guaranteed to lose 5 to 10%
I can only assume this is a case of being stuck as their mandate did not allow 70% cash
Element EV & Solar Battery Materials (Lithium, Nickel, Copper, Cobalt) Futures ETF in registration There are several other alternatives that have been trading for a while with higher volumes
https://www.fool.com/investing/stock-market/market-sectors/consumer-discretionary/automotive-stocks/electric-vehicle-etfs/BATT focuses on batteries for EV with stocks including technology companies and nat resources
LIT is focused on Lithium but has a large overlap
REMX includes "rare earth" companies, most of which are Chinese, IT covers the waterfront of a lot of other materials
GMET is more thinly traded with "green metal companies"
You could also buy FXC (Copper) ALB ( Lithium) Glencore ( largest Cobalt producer) and most of the other big mining stocks to get exposure to Nickle
Big issue I think is
1) volume of shares traded and 2) trying to get concentrated exposure.
A little research would tell you how much Cobalt is worth to Glencore bottom line, for example
“Buy the Garbage” (market commentary) Well, maybe the key qualifier there is "initially". How long is initially? 10 minutes? 10 days? 10 points on the S&P or Dow? 10 months?
Without a clear definition of "initially" the whole concept is simply "garbage".
from Canada: consumers will now be dunned Until 20
13, Visa's and MC's contracts with US merchants forbade them from adding a credit surcharge. However they were permitted to provide a discount for cash payments. That's still the law in NY, and this is how the Supreme Court described it in a 20
17 case:
“A merchant who wants to charge $10 for cash and $10.30 for credit may not convey that price any way he pleases. He is not free to say “$10, with a 3% credit card surcharge” or “$10, plus $0.30 for credit” because both of those displays identify a single sticker price – $10 – that is less than the amount with which the credit card users will be charged. Instead, if the merchant wishes to post a single sticker price, he must display $10.30 as his sticker price.”
... businesses are required to post the higher credit card price labelled as the “regular price,” but may offer a discount to those who pay in cash.
https://www.scolaro.com/ny-law-on-surcharging-credit-cards/There are
10 states in all that put restrictions on credit card surcharges.
California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, New York, Oklahoma and Texas.
As I read the Canadian reporting, we can add Quebec to that list. It seems to allow cash discounts, just not credit card surcharges. The Quebec Consumer Protection Act reads: "if a consumer is offered a rebate or discount on the cash purchase of goods". That suggests that a cash discount is permitted even if a surcharge isn't.
https://www.legisquebec.gouv.qc.ca/en/document/cs/p-40.1
“Buy the Garbage” (market commentary) Barron’s sometimes publishes brief excerpts from newsletters or other market commentators. These
do not necessarily reflect the opinion of the magazine. This one’s off-beat enough and short enough that I’ve quoted the entire piece as it appears in
Barron’s for whatever interest it may hold.
“Buy the Garbage” - Insights from Heritage Capital Oct. 14: “If the rally continues, we should see the most beaten-down stocks bounce the hardest for now. I literally laugh out loud when I hear pundits advise investors to buy ‘good, solid companies with strong balance sheets, cash flows, and dividends’ during bear markets. That's about the worst advice. When bears turn to bulls, the garbage and most beaten down initially rally the most. — Paul Schatz ” (From
“Market Commentary” / Barron’s - October
17, 2022)
Unable to provide working links to
Barron’s. But here’s a link to a commentary from Heritage Capital by Paul Schatz dated October
14.
https://investfortomorrow.com/blog/bells-may-not-be-ringing-but-they-are-being-polished/