As in my wont, I was browsing through depositaccounts.com to see if anything interesting was happening in the world of consumer-facing interest rates. I was surprised to see a few new borrowers at the top of the interest rate league table, with Merchants Bank of Indiana and Workers Credit Union offering 5.65% APY on 36-month certificates. The products used a term I hadn't seen … [Read more...] about Inverted yield curves, rate expectations, and floating-rate certificates
Become a Patron! A reader whose financial savvy I highly value surprised me the other day by saying that he'd been maximizing his Series I Savings Bond purchases for many years. This surprised me since the "fixed" portion of the semi-annual composite interest rate had hovered between 0% and 0.5% APY since 2012, and the "inflation" portion of the composite rate between 0% … [Read more...] about How to think about stockpiling Series I savings bonds
Become a Patron! All the way back in 2020 I offered some speculative predictions about the future of so-called "direct indexing." This is the logical end point of the proposition, promoted by the tax-evasion industry, that by swapping between closely-correlated-but-not-identical securities, those with taxable investments can generate capital losses that can be used to offset … [Read more...] about Schwab’s forthcoming direct indexing platform might be worth a look for the merely affluent
Become a Patron! Via TravelBloggerBuzz, last week I read a fascinating story about the resolution of a FINRA arbitration complaint against two JPMorgan financial advisors by their grandmother, whose money they had supposedly misallocated for the benefit of themselves and their employer. Unfortunately, for the usual reason (laziness) the business journalist was unable to … [Read more...] about What’s the real story behind the zillionaire widow defrauded by her grandsons?
Become a Patron! Like everyone on the internet, for the last few days I've been following the fascinating and hilarious story of the little message board that made a small dent in the quarter-on-quarter performance of a few particularly poorly managed hedge funds. There are plenty of bad and a few good descriptions of the situation out there already, so I'll assume readers … [Read more...] about The right and wrong lessons from the Gamestop trading fiasco