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Everything posted by cashnocredit

  1. Best combination of skills would be Finance, Statistics, and Coding. There is a great need to link the capabilities of coder nerds with the needs of the suits. Too many of the suits don't really understand what info coders can provide and few coders have a clue what's really important to the suits. Too often never the twain shall meet. Then there's InfoSec. A whole other can of tech worms. Almost a billion, unencrypted, mortgage documents were exposed on the internet. These include far more personal detail than mere credit reports. https://krebsonsecurity.com/2019/05/first-american-financial-corp-leaked-hundreds-of-millions-of-title-insurance-records/
  2. https://twitter.com/crazy4pi314 It is never too early to become a scientist! https://www.barnesandnoble.com/w/neural-networks-for-babies-chris-ferrie/1128189925#/
  3. Typical froth near the end of a business cycle. Question is, what will be the trigger for a decline, if any? China tariffs? Increased cost of consumer goods? There could be conflicting drives for lower/higher interest rates. Hard to predict? We live in interesting times.
  4. The portfolio will be culled to a profitable base. They will then turn back on all the accounts. Their biggest problem is how to restructure the merchant agreements and possibly terminate many of them. Some may be profitable, others not. Their business model is very dependent on low interest rates remaining stable. Will they retain that? At a minimum, they will need to adjust things to account for future interest rate risks. Would be interesting to see Alliance's models.
  5. One approach to getting location info on scamsters is to say you only pay bills with checks and ask where one should send a check. Then their greed goes to work even though they might try to get you to use a debit card. Then you can provide more info when filing a complaint and that helps out the feds.
  6. I was rather disappointed with the article. Given the headline, it lacks specifics and has some factual errors as well. I found more depth about what was only alluded to in this other piece by one of the authors. I found this part particularly amusing: The second problem is what happens when the rationale for the decision is unusual. For example, one of the largest drivers of personal bankruptcy and default is divorce. An AI algorithm may be able to go through a person’s bank records and web search history, and determine with some reasonable accuracy if they are being unfaithful. Given that is a leading cause of divorce, it would probably be a relevant factor in a risk-based pricing regime, and a good reason to deny credit. Is it acceptable for a bank to deny an application for credit because a machine suspects infidelity? If so, the next step would be whether it is right for the bank to inform the consumer directly that is the reason why. Imagine if the bank sent a letter to the consumer’s home with that finding https://www.brookings.edu/research/credit-denial-in-the-age-of-ai/
  7. One problem with loans to family/friends is the way they are taxed. Any interest the lender gets is taxed but the borrower can't deduct it. The other problem is that loans frequently turn into gifts with hard feelings.
  8. WSJ warning: paywall https://www.wsj.com/articles/even-harvard-is-now-teaching-personal-finance-11558171800 In April, Harvard University’s economics department for the first time led a Personal Finance workshop series for undergraduates.
  9. Does this mean I need to pay rent to diversify my credit file?
  10. I know a couple that divorced 8 years ago and they weren't hostile. They just turned out not to be compatible. They agreeably split their assets over the next year. Maybe not that common. I've heard horror stories but they are the only couple I know personally that divorced.
  11. Another crap piece. The article's text shows improvement in savings and ability to weather emergencies over the last 5 years. But the headline screams annus horribilis. And then there's the chart where they asked how many paychecks could you miss before you had to dip into savings. Say what! Isn't one of the purposes of savings accounts to be able to cover just such an event? The question really should be how many paychecks can you miss before you deplete your savings.
  12. This is a paper that provides a lot of background that pretty much proves the contamination is from PORTS (shut down reprocessing plant).,. https://woub.org/wp-content/uploads/2019/04/Ketterer-Szechenyi-NAU-Piketon-27Apr2019_V7.pdf The data showed that non-­‐natural U, and non-­‐fallout Np and Pu are systematically present in many locations; accordingly, we tested the alternative hypotheses that, the Portsmouth Gaseous Diffusion Facility (PORTS) are the explanatory sources therein. We observed, using isotope mixing plots, that the U, Np, and Pu are reasonably explained using fallout and PORTS/Paducah end-­‐members described in two DOE-­‐funded studies (Moody, 1995; Kelley et al., 1999). Caution is in order. There was no attempt to quantify the levels but just to separate out that which exists in the environment normally and that which would come from the nuke plant. This is done by spectral energy analysis of the alpha emissions. Each isotope has unique energy levels. It's a good study that pretty much sources the contamination to the plant. But it says nothing about the contamination levels which may be far below any observable health effect. Or above for that matter. It's this study which caused them to go looking for contamination of homes and schools sourced to PORTS. My guess is, that given the incredibly sensitive nature of these detectors, the levels are far below any significance and well below background. There is, after all, a lot of Uranium just in the dirt in one's yard. Difference is that it's U238 with a bit of U235 while the PORTS plant also has a bit a U236 and Np which are nearly non-existent normally. But the danger is getting the stuff inside you and even then it requires a fair amount to increase risk significantly as the radioactivity of these is quite low for a given mass.
  13. No, that's not how it works. You are not responsible for fraudulent charges. But you do have certain obligations. To protect your rights, you must dispute the card in writing. One should do so immediately on discovering the fraudulent charge. While it's also OK and good practice to call immediately you must follow up in writing. While a charge is being investigated, you do not have to make payments on it. They don't have to just take your word for it. A bank is allowed to make their own determination that a charge is legit or fraud. In cases like this it's clear, but sometimes it can be iffy. Like if a family member uses your card. Which is one of the reasons they ask if you ever let someone else use your card. Never do that! Then it's easy to say no and you haven't left any sort of trail that you let someone else use your card. And this is why one should never use a debit card. Convert them to ATM only cards. Harder for thieves to steal and use.. And you are out the money while they investigate.
  14. If you are at the 7-11 with a few bucks you have a choice. 1. Buy a lottery ticket. 2. Buy a Big Gulp. The first is a waste, the latter is a waist.
  15. There's a story on Yahoo about it. 1-in-4 millennial retirement plans are based on winning the lottery
  16. Middle class is more income related than wealth which is what one (hopefully) accumulates during their life. Like most people, I started off with a negative net worth from student debt My first job started off at about 50k Inflation adjusted) which is just in middle class. It took a few years before I had more than I owed even though I was careful with spending. If someone comes out of medical school with a 300k debt it can be many years before they have a positive net worth. But they will be solidly in the middle class, if not upper middle class before that.
  17. The Consumer Financial Protection Bureau filed suit this month against Lexington Law and CreditRepair.com, two of the largest credit repair brands, and a related network of interconnected businesses. Cool!
  18. Agree with retired. By definition, retired is also unemployed, It also means you are not looking for work. I quit working at 55 with no intention of working in the future. Retired doesn't mean you have to have a pension or get social security and I had neither at the time but did have a lot of accumulates assets. Unemployed generally applies to people that are seeking work which you are not if you are retired. So choosing that option is accurate
  19. I'm not surprised. The Apple universe is a bit of a cult. Smart biz decision but I'm not a part of it nor want to be.

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