Tag Archive | Fidelity

Time, Methinks, Given Geopolitical Bedlam, To Get Into Some Long/Short Mutual Funds.

by Anura Guruge


Click to ENLARGE. From Fidelity.


I do not have the temperament, the patience or for that matter the essential cahoonas to short stock. I also REFUSE to have ‘margins’ on my trading accounts. I will only trade using my money. SMILE. So, in 40-years of active trading, some of it manic, I have NEVER shorted a stock. Yes, I do do options, but yet again, straight uncomplicated (but creative) CALLS. I am not greedy. I have been doing this for a longtime and in the last decade or so hit my stride. SMILE.

Well, I am still going to stay LONG this year — irrespective of what transpires.

Given that I have stayed long for decades, I am not about to suddenly change my philosophy to trading. PLUS, given how long I have been long — on some ‘decent’ stock (like say ‘AMZN’) — there is really no reason for I to panic.

But, over the weekend long/short mutuals came to mind. I, as is my wont, did some extensive and frenzied research. Yep, they seem to make sense. I do NOT plan to put much in them. Probably not even 5%! In a way they are but a diversion.

Anywho, I just wanted to share my thinking & research, over the weekend, with you — as I am like that. The two mutuals identified above look ‘OK’ to I. Both have ‘higher-load’ variants — hence why you see them basically twice. Check them out if YOU too had been thinking about long/short mutuals.


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by Anura Guruge

Stock Markets Being Open On Veterans Day Is Insulting — There Should Be Legislation Against It.

by Anura Guruge


Click to ENLARGE and be enraged. From “Investor’s Business Daily”. Google for plenty more.


This is just plain wrong. There is no reason or rationale for this. Schools are closed and it is a Federal holiday. But, the stocks markets are open. That is a travesty.

Yes, I am an frequent, avid and compulsive trader. Yes, I did three four trades today. Fidelity has me ranked and classed as an ‘Active Trader’ in that, per their records, I do more than 150 trades a year. BUT, I would be FINE, just fine if the stock markets were closed on Veterans Day. There is no need for them to be open. The global financial world would NOT crumble if the NYSE & NASDAQ were closed for two days in November — the other, of course, being Thanksgiving.

I am surprised that this has not been dealt with before. Time for this to end.


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by Anura Guruge


 

I Am NOT In Favor Of ‘Commission Free’ (i.e., FREE) Stock Trading!

by Anura Guruge


Click to ENLARGE. From ‘Yahoo Finance’. Google for more.


If you are worried about a $4.98 commission when making a stock trade (and I think $4.98 is what Fidelity charges I) then you should NOT be making that trade!

With online trading commissions are NOT what they used to be. Yes, I remember having to pay $70 to $80 per trade. That gave you pause, but again, in the end you were hoping to make thousands so even $80 would be a rounding error.

Then, with online trading, it became … $14.xx … $7.95 … and now $4.98.

$4.98.

I am HAPPY to give Fidelity $4.98 per trade, for all the services I get.

I will also, happily, make two concessions as to when a trade should/could be free.

  1. I am a great believer in kids getting into stock (and I have had lot of success with this, even helping kids who are not mine). So, I am all in favor that kids should be allowed to trade for free. Basically make UTMA (or equivalent) accounts — i.e., accounts involving those under 18 — commission free. That will be a winner.
  2. Also give those making ‘small’ trades a break. But, since folks invariably will try and abuse this, since folks are cheap, it will have to be restricted to one free trade a day. So, something like one $1,000 (or less) trade per day free, or one trade (per day) involving 30 shares or less.
    ….

So, why am I opposed to free trading. Because, I am old & savvy enough to know that there are NO free lunches. When brokerage house offer free trading they are going to be loosing millions if not billions in income! True statement. So, how are they going to make up for that.

First they will cut services. Yes, good folks will lose jobs. It will also mean that you will not be able to talk to a human. So, the elimination of services is my greatest fear. I get outstanding service from Fidelity. I would hate to see that not be the case.

Second, they are going to start hounding you to sell you services. You will get even more calls and e-mails offering this and that. They have to recoup the money they are losing. It will be ugly. To be honest it will not affect I! Fidelity, quite a long time ago, stopped trying to sell me anything. They know — and they can see — that I do very well on my own. So, they stopped calling me. But, it won’t stop them calling YOU.

There is another reason too. It will just further encourage foolish, mindless trading! I really hate that. Folks that buy and sell with no rhyme or reason. Panic and sell when the market is going down and then turning around buying the same stock when the market has gone up. They could save themselves so much money buy just buying and holding. My core stock portfolio has not changed since 2012. 7-years. SMILE. Yes, I have held the same stock for 7-years. SMILE.

So, that is my piece on this.


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by Anura Guruge


 

Fidelity Investments: FINALLY An Admitted ERROR In Their Cash Balance Accounting!

by Anura Guruge


Click to ENLARGE.


I have long suspected that Fidelity’s much vaunted computer system is not as infallible as they like to claim. As someone who uses it daily, multiple times a day, I have, over the years encountered various vagaries. But, when I call up, they (i.e., Fidelity) always have an explanation.

Not so TODAY. Caught them with their pants down. Very exposed.

My balances did NOT add up. I kind of know what they are (at any given time) and what was being shown just did NOT compute. It also was not inline with what they were showing on my ‘Positions’ page.

So, I called. As always their first reaction is to gently humor you and show that they are right and you are wrong.

Not so today. He tried …. then he was stumped. It did NOT add up. You could see it clear as day. He started blathering … he had to call me back.

He did.

IT WAS AN ERROR in their system!

A few others had called too.

Had to do with today being a HOLIDAY though the stock market is open. But, option trades from last Friday are not being reconciled today because the option markets (most likely in Chicago) are closed. Hence, the error. But, it should not have happened.

They were suitably embarrassed and chastened. I finally caught them.

Ha, Ha, Ha.


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by Anura Guruge

Fidelity MyVoice: Voice Recognition Login For Phone Interactions.

by Anura Guruge


Click to ENLARGE.



It, i.e., enrollment in MyVoice, was easy and automatic — so to speak.

I had called to check on a tax issue! Yes, it is October and time to start thinking year-end-taxes. Right?

Once I entered my ‘passcode’ I was told that MyVoice was an option and I should ask the Fidelity Rep. about it.

After we talked taxes, I said I wanted to enroll in MyVoice.

He laughed and said “done”! I asked whether I have to say a phrase … NO! All conversations with Fidelity are recorded, independent of MyVoice. So, they have PLENTY of my voice recordings.

I haven’t TRIED it yet.

But, I gather, that when I next call in, all I will need to enter is my userID. Then when I start talking, ideally to a live Rep., the system will check my voice.

Neat. Cool.

Not that I call Fidelity that often. But, I like it.


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by Anura Guruge

“CarGurus”, The Car Buying/Selling Portal, Is Scheduled To Have An IPO ~October 12, 2017.

by Anura Guruge


Click image (which I think is NH) to access their Website/Portal.


Pretty decent introduction to IPO in “Xconomy.com”. Click image to access original.


They advertise heavily on Willow TV — on which I watch my daily cricket. Hence my familiarity with them. The ads and their message seems pretty compelling. I have yet to use them. No car buying plans in the near future (I hope).

Plus, I like their name! {Smile}

I then saw that they were up for an IPO — next week, the tentative date, next Thursday, October 12, 2017. The price is anticipated to be around $14 (i.e., same as Roku).

They are profitable and that might make them unusually attractive.

Fidelity is not offering any IPO shares. Damn (not that I would get any).

I am going to keep an eye on this IPO. This one could be v. interesting.


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by Anura Guruge

Barclaycard US & A Fraudulent $194 Charge From Best Buy.

by Anura Guruge


A sample image found on the Web. {SMILE}


I got a Barclaycard Mastercard in February of this year. The last thing I needed was another credit card (to the dozen or more I already had) BUT I would have been an even bigger fool than normal to turn down the generous, one-time $250 Cash Back Reward — given that the 90-day spend requirement to get that was beyond easy to meet. {SMILE}. Yes, I got the $250, as a statement credit, within six weeks and that made me happy.

Given my British antecedents I am fond of Barclays. A good British institution.

I don’t use the Barclaycard as much as I probably should — preferring instead, for reasons I am not truly sure as to why, to use my Bank of America (BofA), Fidelity or Discover.

Anywho …

I check transaction activity on all my cards, online, irrespective of the frequency of use, on a regular basis.

Last week I checked the Barclaycard account and was SURPRISED to see a PENDING charge for $194.40 from Best Buy. I certainly had not bought anything from Best Buy in a month — though it was very true that I had been browsing the Best Buy Website that week looking for a new tablet. But, I was pretty certain I had not accidently bought one. Checked my Best Buy account. Nothing, and I would NOT have bought anything outside of the account because I would have wanted my Best Buy points. Checked around. Nope, nobody in the house had bought anything from Best Buy — of late.

In reality we had only bought two things from Best Buy THIS year: the new refrigerator in early April and an Android phone (later returned) in late April. I had paid for the refrigerator on a Best Buy credit card. However, I had bought the phone using the Barclaycard and that transaction was properly listed — as was the RETURN a week later.

So this was a mystery and semi-scary.

A $194.40 charge, albeit still pending, on my card.

I called them. They answered fairly quickly.

They were SLICK and wonderful.

No hassle, no grief. Just a few questions and then it was BANG, BANG, BANG.

They cancelled my card. They voided the transaction and it was GONE — totally gone — by the next day.

FedEx delivered a new card next morning by 10am! Wow.

I am impressed. I am glad I got a Barclaycard.

But, a heads up.

This is scary. So who stole my card information — since I still had the card in my possession.

I wonder whether Barclaycard will be able to find out. 


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by Anura Guruge


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