Everyone said tech was such an awful place to put your money, I stay the course, and now this morning on Bloomberg I see that, remarkably (he!), tech is way up year to date and nigh-everything else is down. Gotta love to see it! 😀💸
"Declining M2 might be benign following a historic expansion in money supply during the pandemic. Then again, it could signal deflationary/recessionary pressures to come."
TIL, it costs $13 to send $20 to your #coinbase wallet. And if you want to sell, it costs $427 to sell one BTC. That is 1.5%, which is on level with management fees of an expensive mutual fund. Just bear this in mind if you're ever tempted to invest in #crypto
🧵 additionally, when you sell on Coinbase they include something called slippage/spread, which means if you buy #BTC on their exchange, it'll be a little more than market rate, but if you sell it'll be about $300 less than market rate (which presumably they also pocket). So your total cost paid to #Coinbase on the sale of one BTC including fees and "spread" is about 2.5%, exceeding the management fees all but the most expensive managed mutual funds. #crypto#investing
I had a very full day, but I did manage to get out for a bunch of walks (and found witch's butter!) and listen to talks for my #AcademicRunPlaylist! (1/9)
Next was a short talk by Erik Loualiche on competition in the stock market at #NBER. Passive #investing can influence where stock prices settle, and the work here gets at how large we can expect that effect to be https://www.youtube.com/watch?v=dUyKPTWFGFg (5/9)
My #options account is currently up 5% (realized gains) year to date (in this crazy #market!!!)
It’s easy to believe handling your own #finances is difficult - or even impossible. Tired old clichés about #investing haven’t kept up with current market and #economic environments - not to mention all the crooks and bank failures, etc.
Take some time everyday to study finance. Keep at it. Over time it will start to make sense.
Here’s to your financial health and well-being.
❤️
As a person who spent his entire professional life in the tax business, i can attest to the below. The rich, not all, but a lot, think rules do not apply to them. And their money allows them to buy politicians who do their bidding. Like cutting the IRS budget and telling the poor and middle class it's for them!
Think the Panama Papers! All those off shore accounts!!