3 ms·
Sad that there isn’t an actual apology anywhere to be found in the letter at all. And now with the fed rate cut the interest on cash is only 1.3%, with more cu
by tempsy 7y ago
Sad that there isn’t an actual apology anywhere to be found in the letter at all.
And now with the fed rate cut the interest on cash is only 1.3%, with more cuts expected later in the year, which was the last big differentiator. I don’t see how they don’t see massive net withdrawals going forward.
- GaryNumanVevo 7y agoYeah because if they're culpable then they can be sued via class-action
- CamelCaseName 7y ago> And now with the fed rate cut the interest on cash is only 1.3%, with more cuts expected later in the year, which was the last big differentiator. I don’t see how they don’t see massive net withdrawals going forward. This isn't really an issue because the fed rate cut impacts everyone. Other institutions will cut their interest rates as well. I know of a few banks (Canadian) that have already lowered their GIC rates. If anything, this is actually good for RH. Now instead of comparing 1.8% at RH and 1% at another Financial Institution, you're comparing 1.3% and 0.5% -- a much bigger multiple.
- tempsy 7y agomost brokerages don’t actually pay anything. With another cut it’s going to be <1% vs 0%. Hardly anything even with a six figure balance. That’s my point.