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And now I trust Vanguard just a little more.

turnsout 2y ago
Agreed—this strengthens my feelings about the brand. And I write this as someone who also holds (a tiny amount of) crypto
- greenavocado 2y ago
  Vanguard won't let you trade anything even tangentially related to crypto FYI
  - greyface- 2y ago
    Not true. I own a few shares of MSTR in my Vanguard brokerage account.
    - latchkey 2y ago
      Good choice, one of my best investments ever. Get to 100 shares and sell some covered calls.
      - niceice 2y ago
        What happens at 100 shares?
        latchkey 2y ago
        1 covered call == 100 shares
    - greenavocado 2y ago
      MSTR was not a crypto company when it was listed so this crypto backdoor trojan horse is an exception
      - deleted 2y ago
        [deleted]
latchkey 2y ago
I'd rather not have to "trust" any financial institution. https://www.cnbc.com/2025/01/17/vanguard-fined-more-than-100-million-by-sec-over-violations-involving-target-date-retirement-funds.html https://www.cnbc.com/2025/01/17/vanguard-fined-more-than-100... https://asic.gov.au/about-asic/news-centre/find-a-media-release/2024-releases/24-213mr-asic-s-vanguard-greenwashing-action-results-in-record-12-9-million-penalty/ https://asic.gov.au/about-asic/news-centre/find-a-media-rele... https://www.reuters.com/business/finance/vanguard-fined-providing-misleading-account-statements-its-customers-2023-06-01/ https://www.reuters.com/business/finance/vanguard-fined-prov...
- bluGill 2y ago
  You are likely to have to trust them eventually. SPIC insurance is $500,000. If you have more than that and it turns out instead of buying the investments you think they were a ponzi scheme that sent the money to the owners when it is discovered you get up to $500,000 of your money back, while the rest is your loss. You really should have more than that by age 40 if you want a comfortable retirement (that is todays dollars, if you are 18 now when you hit 40 inflation will have made the number bigger, while if you are 80 the number when you were 40 would have been lower)
  - latchkey 2y ago
    I'd rather not have to trust a non-profit insurance company to keep a very small portion of my funds safe. This stuff should be in-code and immutable by any one individual or corporation.
  - Dylan16807 2y ago
    If you use a separate broker for each $500k then you only have to worry about multiple brokers catastrophically failing at the same time. And there are multiple types of account with each type having a separate $500k limit.
- recursive 2y ago
  I'd rather not have to either. I'm going to be honest. I'm not a smart man. I don't understand the first link at all. The other two I don't care about. However, to the extent that those things are bad, they are much less bad than my trust in myself to securely manage a crypto wallet key. If there was some magic thing that just automatically worked and I could somehow trust it, I would be all in. That's not the case for any cryptocurrency I know of because you need to A) maintain access to your wallet key and B) prevent other people from getting it and C) don't inadvertantly click any of those links that drain your account that I've heard of (I don't understand the details) If you can put in the research and discipline to satisfy those requirements, I'm certainly not going to try to talk you out of it, but they're way to steep for us normies.

Agreed—this strengthens my feelings about the brand. And I write this as someone who also holds (a tiny amount of) crypto

greenavocado 2y ago
Vanguard won't let you trade anything even tangentially related to crypto FYI
- greyface- 2y ago
  Not true. I own a few shares of MSTR in my Vanguard brokerage account.
  - latchkey 2y ago
    Good choice, one of my best investments ever. Get to 100 shares and sell some covered calls.
    - niceice 2y ago
      What happens at 100 shares?
      - latchkey 2y ago
        1 covered call == 100 shares
  - greenavocado 2y ago
    MSTR was not a crypto company when it was listed so this crypto backdoor trojan horse is an exception
    - deleted 2y ago
      [deleted]

latchkey 2y ago

I'd rather not have to "trust" any financial institution. https://www.cnbc.com/2025/01/17/vanguard-fined-more-than-100-million-by-sec-over-violations-involving-target-date-retirement-funds.html https://www.cnbc.com/2025/01/17/vanguard-fined-more-than-100... https://asic.gov.au/about-asic/news-centre/find-a-media-release/2024-releases/24-213mr-asic-s-vanguard-greenwashing-action-results-in-record-12-9-million-penalty/ https://asic.gov.au/about-asic/news-centre/find-a-media-rele... https://www.reuters.com/business/finance/vanguard-fined-providing-misleading-account-statements-its-customers-2023-06-01/ https://www.reuters.com/business/finance/vanguard-fined-prov...

bluGill 2y ago
You are likely to have to trust them eventually. SPIC insurance is $500,000. If you have more than that and it turns out instead of buying the investments you think they were a ponzi scheme that sent the money to the owners when it is discovered you get up to $500,000 of your money back, while the rest is your loss. You really should have more than that by age 40 if you want a comfortable retirement (that is todays dollars, if you are 18 now when you hit 40 inflation will have made the number bigger, while if you are 80 the number when you were 40 would have been lower)
- latchkey 2y ago
  I'd rather not have to trust a non-profit insurance company to keep a very small portion of my funds safe. This stuff should be in-code and immutable by any one individual or corporation.
- Dylan16807 2y ago
  If you use a separate broker for each $500k then you only have to worry about multiple brokers catastrophically failing at the same time. And there are multiple types of account with each type having a separate $500k limit.
recursive 2y ago
I'd rather not have to either. I'm going to be honest. I'm not a smart man. I don't understand the first link at all. The other two I don't care about. However, to the extent that those things are bad, they are much less bad than my trust in myself to securely manage a crypto wallet key. If there was some magic thing that just automatically worked and I could somehow trust it, I would be all in. That's not the case for any cryptocurrency I know of because you need to A) maintain access to your wallet key and B) prevent other people from getting it and C) don't inadvertantly click any of those links that drain your account that I've heard of (I don't understand the details) If you can put in the research and discipline to satisfy those requirements, I'm certainly not going to try to talk you out of it, but they're way to steep for us normies.