Since the product was announced on Thursday I've been following with interest the drama surrounding Robinhood's "Checking and Savings" product, which has since been put on hold and rebranded as a "Cash Management" account. It's an interesting story about the brokerage and banking industries, and I think it's possible at this point to piece together what Robinhood was thinking, … [Read more...] about What was behind Robinhood’s very bad week?
Archives for December 2018
This is a funny thing I was unaware of until I saw someone mention it on Twitter the other day: the SEC hosts a website offering free financial planning tools. I was surprised, since I think of the SEC as having a "hands-off" approach to investing: they don't want people to commit too much fraud or anything, but they're mostly indifferent to whether you invest well or poorly … [Read more...] about The SEC offers free financial planning tools. Are they any good?
The local public library recently spit into my hands Reihan Salam's slender volume about US immigration policy, "Melting Pot or Civil War? A Son of Immigrants Makes the Case Against Open Borders." The "son of immigrants" in question is Salam himself, who is so thoroughly integrated into American life he manages to hold down a gig writing for the fringe conservative website … [Read more...] about Book review: Reihan Salam and the limits of American greatness
A spectre is haunting the United States — the spectre of "effective altruism." This is the idea, lifted from the corridors of financial capital, that philanthropy can and should be streamlined, optimized, A/B tested, and transformed to make sure each dollar is deployed "effectively." The other day I saw Dylan Matthews, in honor of "Giving Tuesday," write about his own … [Read more...] about “Effective altruism” is as stupid an idea as “smart beta”