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It's a separation of concerns thing. Sure, you can use your bank for analysis, but there's better options out there. Banks are for storing money, not financial
by toomanybeersies 10y ago
It's a separation of concerns thing. Sure, you can use your bank for analysis, but there's better options out there. Banks are for storing money, not financial analysis.
- mrexroad 10y agoi think if my bank offered advice, i'd strongly consider doing the exact opposite of whatever they suggested. i'd rank it up there w/ listening to jiffy lube's recommendation to refill the blinker fluid.
- lisper 10y ago> Banks are for storing money Actually, banks are for aggregating capital. There is no institution in the Western financial system where you can just store money. The best you can do is put physical cash in a safe deposit box.
- scott00 10y agoPutting physical US cash in a safe deposit box is actually illegal in the US.
- dragonwriter 10y agoAFAICT, it actually isn't in the general case (it may be when done with certain intent or effect), but most US banks now have a blanket prohibition on foreign or US currency in the agreement they require when you rent a safe deposit box.
- semi-extrinsic 10y agoThe flipside of this is that I want to trust as few entities as possible with my financial data. I see some are questioning advice given by the bank (and I agree with that), but objective analysis != advice.