Short Takes: CRA Accounts, Asset-Allocation ETFs, and more
I enjoyed Nassim Taleb’s take on Bitcoin (below). He doesn’t hold back. There’s a huge difference between pricing Tesla cars in Bitcoin vs. asking for the Bitcoin equivalent of the car’s price in U.S. dollars. He also says those who believe Bitcoin is a store of value are “ignorant.” In a different tweet, he says that if you return your car, Tesla has the option to refund you the Bitcoin you paid or the dollar equivalent Bitcoin amount (whichever is less, presumably). This doesn’t sound like much of a commitment to Bitcoin by Tesla.
Tesla is not pricing its cars in # BTC as some idiots are mistakenly stating. Tesla is pricing its cars in $ and converts for the transaction.
— Nassim Nicholas Taleb (@nntaleb) March 25, 2021
BTC was down 10% overnight. One must be reaaaaaally ignorant to treat a SPECULATIVE item as a "currency" or reliable "store of value". https://t.co/0MGKlzH0Wk
Here are my posts for the past two weeks:
Pre-Construction Deals Create a Dishonesty Option
How to Account for High Stock Prices in Retirement Spending
TurboTax Gets Medical Expense Optimization Wrong
Mutual Fund Deferred Sales Charges are Designed to Hide Bad News
How Much Savings Do You Need to Delay Starting CPP and OAS Pensions?
Here are some short takes and some weekend reading:
Rishi Maharaj has a sensible take on the security problems with online CRA accounts that have left nearly a million Canadians locked out. “The CRA should be commended for surveilling which usernames and passwords are being sold by fraudsters and proactively freezing those accounts. But that’s where the plaudits end.”
Boomer and Echo answers reader questions about asset allocation ETFs and their fees.
Ben Felix explains the elements of good financial advice on the latest Rational Reminder podcast. Spoiler: it’s not picking stocks or investment managers. As usual, his ideas are well thought out, but the hard part is quantifying the value of the advice, which will be different for each investor. Even if Ben’s advice is superior to your own choices in more ways than just portfolio size, the question is whether his advice is enough better to overcome its cost.
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