Talk of The Villages Florida - View Single Post - Who feels it necessary to keep their securities distributed among several brokerages?
Thread: Who feels it necessary to keep their securities distributed among several brokerages?
View Single Post
 
Old 09-14-2023, 01:32 PM
jimjamuser jimjamuser is offline
Sage
Join Date: Mar 2018
Posts: 9,889
Thanks: 6,892
Thanked 2,245 Times in 1,812 Posts
Default
Quote:
Originally Posted by Nell57 View Post
Thanks Spinner1001 for this explanation of Schwabs situation.
My financial advisor invests my funds through Schwab. I am really happy with him, but have been uncomfortable with some of the things I’ve been reading about Schwab.
They’ve tied up billions in some long term investments that are now suffering.
Your explanation put those $$ in perspective.
I would NOT blame Schwab for "long-term investments that are now suffering". I assume it is like many banks that lent out money at say 3 or 4 % (when inflation was like 1%) and then the FED (which was late to react) pushed up interest (to prevent out-of-control inflation) to about 9%. I guess that you could say that things are stabilizing now.
........note: Russia and Saudi Arabia have done the US no favors by driving oil (therefore gas) upwards.