People are asinine, that many comments about things like FDIC insurance and fee fees? Shows how few people on many finance sites actually have any idea how the finance elite live, as anyone with half a brain would just assume that it's one of the options already mentioned (private bank account that reimburses fees, brokerage account, etc) and also figure out it's clearly not a Capital One account. You don't even need to be a high roller to have a Charles Schwab account that does that stuff.

There have been many great comebacks throughout history. Jesus was dead but then came back as an all-powerful God-Zombie.
 
Best Response
Nobama88:
Kenny_Powers_CFA:
People are asinine, that many comments about things like FDIC insurance and fee fees? Shows how few people on many finance sites actually have any idea how the finance elite live, as anyone with half a brain would just assume that it's one of the options already mentioned (private bank account that reimburses fees, brokerage account, etc) and also figure out it's clearly not a Capital One account. You don't even need to be a high roller to have a Charles Schwab account that does that stuff.

Calm down big guy. When I read Capital One the first thing that popped into my head was that amount of money was not secured. Obviously, it is probably from a private account... and for the record my Fidelity card does the exact same thing.

The FDIC thing is at least a valid concern (and to be fair a PB account isn't secured beyond the FDIC limit, anyway)-the idea that people were like LOL $2.75 or assumed it was a Capital One account because of the ATM was what ground my gears.

There have been many great comebacks throughout history. Jesus was dead but then came back as an all-powerful God-Zombie.
 

I'm with you Kenny, I just don't see why anyone would ever want an account like that linked to their ATM card

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
 
Kenny_Powers_CFA:
You don't even need to be a high roller to have a Charles Schwab account that does that stuff.

For real, I'm still in college and I have a Fidelity account. It doesn't take much.

D M:
I'm with you Kenny, I just don't see why anyone would ever want an account like that linked to their ATM card

It's 2% of his net worth... Decent asset allocation in my book.

MM IB -> Corporate Development -> Strategic Finance
 

People talking about the FDIC limit and fees/interest rates are crazy. Whoever it is is obviously worth 10 figures, and doesn't give a rat's ass about that. They probably have well over $100M just in real, personal assets alone (house, boats, cars, etc), have money in tons of other liquid and illiquid financial assets (bonds, stocks, PE funds, hedge funds, etc.).

Are you guys seriously suggesting they split up $100M into thousands of tiny FDIC insured chunks? And who cares about minor fees, and a low interest rate? 1% on $100M is $1M a year...like who cares at this point.

 

I'll just reiterate what was already said about the FDIC..when one has enough money to have $99M+ in one bank account I'm almost positive one would not care...about FDIC blah blah blah...

Side note. Good lord that is a lot of money he could go out and buy anything he wanted with his debit card... wow.

The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee WSO is not your personal search function.
 

The thing I'd be really worried about is someone looking over my shoulder and seeing $99mm, or picking up the receipt after I left and seeing the same. Sounds like a good way to get robbed

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
 

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