[financeboyz] Kini's investments

From: "Radhesh Mohandas" <financerod@xxxxxxxxx>
To: financeboyz@xxxxxxxxxxxxx
Date: Tue, 30 Apr 2002 05:10:11 -0700
 Kini,
  The very fact that u understand that u should not give me ur money qualifies 
you as a "non-fool". You had falsely claimed in your previous letter that you
"spend needlessly". Only fools do that. Such people do
not keep any accounts and then a donation to me is better off then to any other 
wise man :) Further if I decide to be honest and work hard on his money and
return it with interest to him someday - it will be his windfall and will be 
better than what he can achieve on his own.
  Regarding virtual banks, all the savings and mma are
FDIC insured upto 100,000 dollars. So even if ur bank
goes down, you get back your money till ur recent statement atleast. And in the 
corporate history, I have not seen any major bankrupsy filing.

ING direct is a part of ING financial services which is a pretty established 
and big investment firm, With good history and have some good mutual funds. You 
can
see that they manage funds worth billions of dollars
if u do some research. They were pretty much localized
in the northeast and with the internet boom, they 
decided to expand their market. The savings a/c product that they offer is 
after careful research which actually provides value edition to customers and
has an edge over the competators. They keep their costs
low which is why they have such a simple site. And since everything is 
electronic, they do a good job.
It is not yet another .com if you are under such an impression. 

Trading firms that u mentioned have MMA of around 2% APR today AFAIK. Further 
there will be inactivity fees
and minimums and other strings. If you are 100% sure 
that you are not gonna trade, you don't require it.
I have accounts in number of trading firms and to 
move money between them electronically, I can misuse ING direct's e-transfers 
without occuring any finance charges.

I also did a survey of other banks and 3%APR is the best that I could find in 
today's market. If somebody
offers me more, I am ready to switch coz I am not married to any of these banks.

Boyz,
This list is archived and has threads, so please do not
include the original messages in your replies in order
to conserve space.

-Cheers,
Radhesh



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[financeboyz] Kini's investments

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