Tuesday, August 11, 2020

It's frustrating when financial people don't understand why things happen.

"DARTs is a metric used in the brokerage industry to track individual brokerage houses to determine how well they're doing in generating revenue from commissions. Judging by Robinhood's explosive trading activity, E*Trade appears to be a dying fad. " Source.

ETrade was not a fad - they just killed themselves like any other company. You have to be in the market to know what's going on in the market. And the idea that ZeroHedge doesn't know how Etrade operates is silly. So I'm gonna fill you all in.

When all the brokerages houses stopped collecting trading fee's - they had to make that money up somewhere. Turns out it was nickel and dime-ing their clients for simple things like say..... a paper statement. Etrade for example charges 20.00. Twenty DOLLARS! For a paper statement.

A  trading fee for example ~was~ under 10 bucks before they all stopped charging fees. Etrade is the ONLY company I have EVER dealt with that charged a fee for a paper statement. This is why all their customers fled.

Now I know all of you people are saying - a paper statement..... how old timey. Yeah - try having to dig out 14 year old statements like I had to do recently for taxes. The idea that Etrade will not give you paper statements without a fee is super ridiculous. And all these Robinhood idiots are going to find these things out when they have to file taxes. I honestly would love to see some of those guys do their taxes on fractional shares. OMG. That would be a real fun time.

1 comment:

  1. Capital of Texas RefugeeFriday, August 14, 2020 5:12:00 PM

    Are you seated comfortably?

    Then we will begin.

    Masayoshi the Enabler pumps another 1.1 billion USD into WeWork.

    Rage, rage agains the coming of the bailout cash! :-)

    Meanwhile, Switzerland deals with the high price of mostly useless masks.

    Yes, that's right, you're seeing 14.95 for 10 useless masks on that "Actuel" sign, and yes, that is a price of 48.90 CHF on that box of 50 useless masks.

    But it's national news that prices are going down because China YAY.

    *GRRRRR* ... and once again, I remind everyone that China's mis-handling of the situation means they owe the Swiss people at least 80 billion CHF for this much trouble, let alone what they owe to Singapore, Taiwan, Hong Kong (which they invaded instead), the US, the UK, the rest of Europe, and in fact the rest of the world.

    The cost doesn't bother me anyway, but I already imported a shitload of these masks and hit up Harbor Freight for some small give-away packs before packing out.

    These I've been giving away to people who have been coping with the high prices.

    A pack of 10 of these at Harbor Freight was something like 4.50 USD.