Jump to content

Recommended Posts

Given the circumstances in SA, I would fill my car today.  I don't expect the US to see that big of a change, but Europe (and whoever else is using Brent crude) will be hit the hardest.  You will save some money.  We will know more later today 6 pm when the oil market opens (some are predicting $10 or more jump in prices).

Share this post


Link to post
Share on other sites

This is what it looked like a bit after 8 when I checked in.  The vertical rectangle is the price change from the last trading day (Friday or Saturday depending on your time zone).  The box at the top is showing light sweet oil in the US was up 11+ (percent) when I took the screenshot.  The arrow shows the "gap up" (from around 55 to the current 66 (depending on when you look at it ) which is what counts.

My gas buddy app shows the local gas stations haven't raised prices - yet.  I'm guessing at least a quarter.

ON EDIT: once they have a chance to inform the stations in the morning.

image.jpeg

Share this post


Link to post
Share on other sites

Given our low interest rate environment, I found this interesting.  I had an acquaintance tell me today they wanted to borrow 2 grand to take some course which would give them another avenue to make money.  Don't really remember what it was, but legit.

The bank they talked to (5/3) would float them the money; at 13.5 percent.  Amazing.  I don't know the time.  Doesn't matter.

Those swine ****s (who have no money I might add) get borrow (almost) free money, while they charge someone 13.5 percent on 2 grand.

I think of the articles I've read about people who don't have 400 bucks to fall back on.  In this case they are trying to get ahead, and get hosed doing it.  13.5 percent of 2000 is 270 bucks. They simply can't do it.

Swine banks.

While every day we see **** like this; 3 JPMorgan traders indicted in alleged pricing scheme - CNN

Little itty bitty fishies get caught.  The whales keep swimming.

And get almost free money to boot.

What a gig!

 

Share this post


Link to post
Share on other sites

I forgot to report on this.  Crude went nuts Sunday night when the markets opened (as we know).  I was curious to see when the local gas station reflected the change (crude price change to pump price change).  It hit this afternoon.  All Cornhole stations went up around noon today.  From $2.54 to $2.84.  I'm shocked it took that long.

Share this post


Link to post
Share on other sites
2 hours ago, Gehringer_2 said:

my employer recently signed leases to take over two more floors in this building. I hope to **** my team can get a room on one of those floors. I'll take the potential street noise from being 6-8 floors lower over this open-floorplan ghetto any day.

nothing really to do with WeWork, just a tangent on the subject of workspaces.

Share this post


Link to post
Share on other sites

TD Ameritrade and Charles Schwab are both moving to $0 trade commissions.  

I read that will cost TD $220M in revenue per quarter.  Of course they will look for new ways to make up that lost revenue.  I wonder if they will start a push to make trading on margin easier.  

 

Share this post


Link to post
Share on other sites

The Seven-Year Auto Loan: America’s Middle Class Can’t Afford Its Cars

Good article.  A few things caught my eye.

Quote

Mr. Jones, now 22 years old, walked out with a gray Accord sedan with heated leather seats. He also took home a 72-month car loan that cost him and his then-girlfriend more than $500 a month. When they split last year and the monthly payment fell solely to him, it suddenly took up more than a quarter of his take-home pay.

He paid $27,000 for the car, less than the sticker price, but took out a $36,000 loan with an interest rate of 1.9% to cover the purchase price and unpaid debt on two vehicles he bought as a teenager. It was particularly burdensome when combined with his other debt, including credit cards, he said.

Isn't the car the collateral in an auto loan?  How do you get a $36K loan on an item that isn't worth $36K?

And wow.  22 and is basically paying on 3 cars at once.  

The biggest crime committed against society today.  How financial illiterate they try to keep us.  I know he's 22 and should be responsible, but damn.  

Quote

So far this year, dealerships made an average of $982 per new vehicle on finance and insurance versus $381 on the actual sale, according to J.D. Power, a data and analytics company. A decade earlier, financing brought in $516 per car and the sale made dealers $837.

No wonder I get treated like a second class citizen when I tell them I'm going to be paying cash.  

Share this post


Link to post
Share on other sites

One thing I have insisted on as a parent is teaching my sons the basics of finance / investing.

Should be taught at school, but that is bad for companies, so....

Share this post


Link to post
Share on other sites

I have an idea I want to try during the next school board election.

Go to all of the candidates.  Offer a max donation for anyone promising to push adding personal finance classes to the curriculum.  

The problem I keep coming back to.  I have no recourse if they take the money and don't make the push.  Or they make the push and can't get it done because none of the other members care.  I guess the hope would be a handful of the candidates take your money and win, making it easier to get something done.  

Share this post


Link to post
Share on other sites
4 hours ago, Deleterious said:

TD Ameritrade and Charles Schwab are both moving to $0 trade commissions.  

I read that will cost TD $220M in revenue per quarter.  Of course they will look for new ways to make up that lost revenue.  I wonder if they will start a push to make trading on margin easier.  

 

The free trading begins Thursday.  No fees on stocks, ETFs, option contract fees will be .65 cents, but no fees on assignment or exercise.

That's about all I have for explanation.  They didn't send anything out, just some stuff on the login screen.  I'm a bit worried about this.  I never gave a crap about fees.  They were nothing compared to the trades.

Share this post


Link to post
Share on other sites
22 hours ago, screwball said:

That's about all I have for explanation.  They didn't send anything out, just some stuff on the login screen.  I'm a bit worried about this.  I never gave a crap about fees.  They were nothing compared to the trades.

There's no such thing as a free lunch.  Those fees will be transferred somewhere else....and likely to be expounded upon.

Share this post


Link to post
Share on other sites
2 minutes ago, Euphdude said:

There's no such thing as a free lunch.  Those fees will be transferred somewhere else....and likely to be expounded upon.

I won't touch that bolded statement with a ten foot pole. 🙂

I agree.  They will find a way to recoup the hit - one way or another.  I think front running our orders for another sliver of a cent will be front and center (trades settle 4 digits deep now).  I was most surprised I didn't get a more broad and detailed notice from my broker.

Their stock took a pretty good hit, and is still getting hit.  That worries me too.  I'm considering moving, but this is my third one and I'm tired of doing so.  Not that another one will be any better.

Not sure where this will eventually lead.

Share this post


Link to post
Share on other sites

It was nice to check my account this morning and see a nice little rebound.  Makes Monday more bearable when I see that.

Share this post


Link to post
Share on other sites

A Rent A Center ad caught my eye last week.  It had the exact TV on the ad that we bought last November for $800 at Best Buy.  Regular price was $940 at the time.  I looked and now the regular price is $800.

RAC had two options to buy it.  Six months same as cash.  I didn't investigate that but I assume make six monthly payments on time and pay no interest.  And then another option you rent to own for like 50 months.

Six months same as cash price = $1,499.

Rent to own option price = $2,599.

For an $800 TV.

Share this post


Link to post
Share on other sites
48 minutes ago, Deleterious said:

I don't check my accounts.

I log in 2-3 times a year to rebalance and that is it.

I check them regularly because it's fun.  I also re-balance a couple times a year which usually means pull a little bit more out of the market as I approach retirement.  

Share this post


Link to post
Share on other sites

Maybe I don't check because I stopped contributing to my retirement accounts.  

But honestly it's mostly my personality.  When I'm betting I can  have bets on 4-5 games a night.  I rarely sit there and check scores like most people do.  I wait until everything is over and then check, usually.  If I'm at my computer I might keep my eye on some scores.

Share this post


Link to post
Share on other sites

I check because I have a desk job and it is an excuse to look at something different.  I do not obsess over gains or losses and do not have the gonads to change up my investments.  I picked the ones I did in the beginning because I thought there was a long term future in it so that is where they will stay most likely until I start taking money out.  

We put in just under 10% every week into those accounts, but mainly I look as a distraction.

Share this post


Link to post
Share on other sites
2 hours ago, Deleterious said:

A Rent A Center ad caught my eye last week.  It had the exact TV on the ad that we bought last November for $800 at Best Buy.  Regular price was $940 at the time.  I looked and now the regular price is $800.

RAC had two options to buy it.  Six months same as cash.  I didn't investigate that but I assume make six monthly payments on time and pay no interest.  And then another option you rent to own for like 50 months.

Six months same as cash price = $1,499.

Rent to own option price = $2,599.

For an $800 TV.

And people will pay it.

Kind of like people paying a 35 dollar bounced check fee for writing a 20 dollar check (that bounced).

Being bad a math is a bad thing.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


×
×
  • Create New...