62

"Things are the way they are because they got that way." - Gerald Weinberg Banks have been in business for a very long time. Yet, much of what we take for granted in terms of technology (capabilities, capacity, and cost) are relatively recent developments. Banks are often stuck on older platforms (mainframe, for instance) where the cost of redundant ...


51

No, your billionaire premise is not correct. Most people don't realize that share price drops by the exact amount of the dividend on the ex-dividend date when the stock exchanges adjust the closing price. If you have a $100 stock that is going ex-dividend tomorrow morning for $1, in the morning the adjusted close will be $99. IOW, you will incur a ...


46

For the great majority of retail investors, the appropriate amount to spend is $0, because it would be a better idea to buy an index fund and pay no attention to the data from those subscriptions. That said, you're considering the subscription as an investment expense. If your goal is to see if you can make use of the subscription to increase your returns, ...


38

The difference is that Yahoo is showing the unadjusted price that the security traded for on that date, while google is adjusting for price splits. This means that Google is showing how much you would have had to pay to get what is now one share. Since 1979, JNJ has split 3-for-1 once, and 2-for-1 four times. 3x2x2x2x2 = 48. If you bought 1 share at that ...


37

All the other answers here are correct, but I'll add one more perspective. I am a business architect at one of the world's largest retail banks. Every day I experience the frustration of trying to get large-scale corporate IT to do anything, so I feel that your question is just one facet of the wider question: "why are banks so old and busted?" While it's ...


36

Has the US always used a marginal-tax system for income tax, as is the current practice? Yes. Since the income tax was first established in 1913 it has been a marginal rate system. Is it mathematically possible that, under a marginal-tax system as is the current standard, the quoted statement could be true? No, it's not possible under a marginal system ...


27

JNJ did pay $0.42 per share in quarterly dividends, but the unadjusted (for splits) share price in the late 70s was $67-$80. It appears as though you're looking at share prices which are adjusted for splits and dividend per share prices which aren't adjusted for splits.


19

There are several reasons to pay for data instead of using Yahoo Finance, although these reasons don't necessarily apply to you if you're only planning to use the data for personal use. Yahoo will throttle you if you attempt to download too much data in a short time period. You can opt to use the Yahoo Query Language (YQL), which does provide another ...


19

That info isn't in the credit card transaction data record. Keep and scan your receipts.


19

What you are positioning as a loan was not a loan at all. Your father bought something to be delivered in the future. Your aunt does not want to deliver it, so she should buy it back at whatever the current market value is. What is the price that your dad believes her share of the inheritance is currently worth? Is that based on actual appraisals and some ...


17

I would say a lot of the answers here aren't quite right. The main issue here is that banking is a highly oligopolous industry - there are few key players (the UK, for example, has only 5 major banks operating under a variety of brands: it's all the same companies underneath) and the market is very, very hard to enter owing to the immense regulatory burden. ...


16

The top marginal tax rate used to be VERY high. https://en.wikipedia.org/wiki/Income_tax_in_the_United_States#History_of_top_rates Thus, given the nature of marginal rates, she could never net the same amount after a pay cut. However, for example, given that in 1940 the top marginal tax rate was 81% of all income over $200,000, she'd have only netted $9,...


14

One reason why they limit it is to protect you. If I hack your account, I get your entire financial history. I can see a copy of every check you ever wrote. I can see the account number with every doctor, utility, and credit card. I can also see the account information on the back of those checks for all your relatives who you sent $10 for their birthday. ...


13

Has the US always used a marginal-tax system for income tax, as is the current practice? Yes. It's been that way from the start. The Bradford Tax Institute offers a nice history with further links to the 1913 tax form. Is it mathematically possible that, under a marginal-tax system as is the current standard, the quoted statement could be true? No. ...


13

Two great answers are provided, and I would like to add something. Most people do not wake up with 20K and say "tomorrow I will start investing". They start small with regular systematic contributions. This might take the form of $50 auto drafted from your bank account corresponding to your pay days, or in 401K investments through payroll ...


12

United States For press releases about economic data, the Bureau of Economic Analysis press release page is helpful. Depending on the series, you could also look at the Bureau of Labor Statistics press release page. For time series of both historical and present data, the St. Louis Federal Reserve maintains a database such data, including numerous measures ...


10

I work on a buy-side firm, so I know how these small data issues can drive us crazy. Hope my answer below can help you: Reason for price difference: 1. Vendor and data source Basically, data providers such as Google and Yahoo redistribute EOD data by aggregating data from their vendors. Although the raw data is taken from the same exchanges, different ...


10

The answer in theory is yes. The answer in reality is no. Let me explain: IN THEORY A brokerage/trader like, take your pick: Charles Schwab, E*Trade, Scottrade, et cetera would certainly have a record of who bought and sold what through their system. The IRS would have records of sales that resulted in a taxable event Companies maintain what is called a ...


10

Although if you count only your data, it would be quite less 10 MB, multiply this by 1 million customers and you can see how quickly the data grows. Banks do retain data for longer period, as governed by country laws, typically in the range of 7 to 10 years. The online data storage cost is quite high 5 to 10 times more than offline storage. There are other ...


9

Yes, from June 1968 until December 1968, they closed the NYSE every Wednesday so they could catch up on paperwork representing billions of dollars in unprocessed transactions. Even after the NYSE re-opened on Wednesdays in January 1969, they still had to close it early at 2pm for seven more months. Forbes has a description of this: Not to be forgotten, ...


9

With no written agreement in place, the "right" rate is whatever both parties can agree to. I could argue that I could have invested the money in S&P 500 index funds and made about 9% annually over the last 15 years and the 15,000 would have been over 40,000. The "fair" rate would be whatever rate of return could have been expected from whatever your ...


8

There are several neat (and AFAICT completely undocumented) resources on NASDAQ's public FTP site. For your needs I would recommend: /SymbolDirectory/nasdaqlisted.txt = US Tape C equities /SymbolDirectory/otherlisted.txt = US Tape A/B equities (depending on the value of the ETF column) As for listings and delistings, I know I've seen those updated in /...


8

To add technical detail to other answers, your (and some commenters') estimates of storing that data is woefully (many orders of magnitude) off. Let's take your 10MB of transaction data per user. You're only estimating text records like in Quicken. Now add on the volume of storing everye check's image. That's 100K (if not 500Kb depending on resolution of ...


7

The mathematics site, WolframAlpha, provides such data. Here is a link to historic p/e data for Apple. You can chart other companies simply by typing "p/e code" into the search box. For example, "p/e XOM" will give you historic p/e data for Exxon. A drop-down list box allows you to select a reporting period : 2 years, 5 years, 10 years, all data. Below ...


7

For example, for a 100.000 loan with a 10% interest, basic logic would imply that you have to pay back 110.000. No. The interest rate is usually given per year, so for each year I owe you 100,000, I owe you an additional 10,000. But I don't owe you the full 100,000 all time long. If I pay you 20,000 at the end of the first year (10,000 interest and 10,000 ...


7

I thought more of this and was able to walk myself through the answer to question 2. So long as the net (after tax) income is monotonically increasing with gross income, it's not possible to earn the same amount after taxes by cutting a salary. This is because the effective tax rate in a marginal system is continuous and monotonic vs. income and income vs. ...


7

This is not easy to tell, but I'll give it a try. The German Wikipedia article about the DAX contains a reference to a historical extrapolation of the CDAX: https://de.wikipedia.org/wiki/DAX#/media/Datei:CDAX-Kursindex.png (On https://de.wikipedia.org/wiki/Wirtschaft_Deutschlands, more index values can be found from this era.) Assume your hypothetical index ...


6

To see a chart with 1-minute data for a stock on a specific date: Go to Trading Physics Enter the stock symbol in the "Stock ticker" field Select a date Select "1 Day" for the "Days on chart" field Click the Submit button For example, here is the chart for TWTR on November 7, 2013 - the day of the IPO: Here is the chart for TWTR on November 8, 2013 - its ...


6

For MCD, the 47¢ is a regular dividend on preferred stock (see SEC filing here). Common stock holders are not eligible for this amount, so you need to exclude this amount. For KMB, there was a spin-off of Halyard Health. From their IR page on the spin-off: Kimberly-Clark will distribute one share of Halyard common stock for every eight shares of ...


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