konne88

8 ms·

31.
by konne88 5y ago
I personally used to keep about a $20K balance in my checking account, and I was actually surprised by how much a difference it can make to invest that. If you have an investment with an expected annual return of 5%, that's a $1K &#x2F
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by konne88 5y ago
If you put in $50K, and it gained 10% your account would now have $55K. If you withdraw $2K, you could be taxed on the 10% profit on that $2K, so $200. So if your tax rate is 25%, you'd pay $50 in taxes because of that 2K withdraw.
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by konne88 5y ago
You can usually aggregate all your trades into a single line on your tax form. "You can aggregate all short-term and all long-term covered transactions and report them as single-line entries directly on Schedule D. A covered transactio
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by konne88 5y ago
I think there are two reason why you should care how your bank invests money. 1) For society, because the government has to bailout your bank if they take risky bets. 2) As a customers, because you don't have any choice about how much
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by konne88 5y ago
I completely agree that we don't want to end up being the next Robinhood. One interesting technical aspect there is that our customers don't manually trade securities, instead they provide us with a strategy that we then execute w
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by konne88 5y ago
Let's use concrete numbers just to make it easier. Say you have $10K in your account. You would be withdrawing $5K which we would allow. If you did this withdraw while the markets were close, and the value of your portfolio is only $8
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by konne88 5y ago
Great point!
38.
by konne88 5y ago
Yes, you are completely right, this is an investment account with the money management and instant cash access features of a checking account. It is not FDIC insured and you can lose money. We are buying and selling the stock in such a mann
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by konne88 5y ago
With today's existing banking products, it is indeed basically impossible to keep 0% in cash, because you then couldn't pay your rent etc. On the question of how much money you should keep in cash, I think it really depends on how
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by konne88 5y ago
Good point about the "checking account" phrasing. I agree we should be more careful here. In my mind, traditional checking accounts are characterized by two orthogonal features. 1) They offer money management features (debit cards
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by konne88 5y ago
We currently don't try to avoid wash sales, so they can happen indeed. That's not the end of the world though (wash sales are completely legal), it just means you can't do as much tax loss harvesting as you might like. Long t
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by konne88 5y ago
Every year you will receive the necessary paperwork from us to file your taxes. While there will be many trades, you can usually combine them into just one line on your tax return that sums them all up. That's correct, because your mon
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by konne88 5y ago
I completely agree that our product could be used the wrong way, and we want to make sure we guide our customers to the investments that will have the best risk profile for them. In particular, we are currently seeking to become a registere
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by konne88 5y ago
Thanks for highlighting that the investments can lose significant money, and that this is something to watch out for! Completely agree here. I do think that there is subtly around risky investments not belonging in a checking account. I agr
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Launch HN: Financial Choice (YC S21) – Checking accounts with market returns
57 points by konne88 5y ago|154 comments
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by konne88 6y ago
Wouldn't Google have a very long history of business to business from their advertising platform?
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by konne88 10y ago
My prediction was that the article would talk about: abstraction, application, and variables. https://en.wikipedia.org/wiki/Lambda_calculus
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by konne88 10y ago
Such bullshit. With Soylent you can code while you eat :)
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by konne88 10y ago
What we really need is a hardware extension for ARM/Intel that traps on under/overflow: http://blog.regehr.org/archives/1154
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by konne88 11y ago
So this has over 1000 upvotes because it's good art, not because it's an interesting algorithm?
51.
by konne88 11y ago
Why do people find this interesting? Is there more to it than the insight that one can define a function that maps image-dimensions to an image?
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by konne88 11y ago
I'd take a cheaper processor over a "conflict free" one every day.
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by konne88 11y ago
Why not just call the post: "Which Programming Languages are Pure?". What's the point of redefining Functional Programming in a way that is at best controversial?
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by konne88 11y ago
> Default methods cannot be accessed from within lambda expressions. Why is that?
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by konne88 11y ago
I would have expected "Coq" to fail.