The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 16 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 1 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Stein: Warren Buffett does not practice his own passive investing advice
“He's, he doesn't do what he preaches, right? He's an active investor himself.”
Stein: Betterment's 0.25% fee is more than offset by tax optimization
“I would compare an all in net return number, and I would think about that .2 to five percent being more than made up for in the tax optimizations alone, plus the behavioral optimization, the diversification, and the ease of use that we give you are worth a lot…”
Stein: Betterment is outgrowing historical adoption of ETFs and discount brokerages
“If you look at the growth of ETFs, we're growing faster than ETFs took off. If you look at the growth of say discount brokerages, we're growing faster than that.”
Stein: Betterment plans to IPO rather than sell to an acquirer
“We've always said we're going to make it a public company. We've always had our sights set on the long term. We're building an institution for the next century. We're not interested in selling out right now.”
Stein: Betterment is the largest independent online investment advisor
“Betterment is the largest independent investment advisor online.”
Stein: Betterment charges 0.25% AUM fee, lowest in industry
“It's .25%, which is the lowest in the industry, and by charging this one clear transparent fee we align ourselves with the customer.”
Stein: 80% of his Harvard graduating class entered finance
“80% of the graduating class from Harvard went into finance of some sort.”
Stein: Financial services captured 40% of US corporate profits in early 2000s
“At that time, 40% of all the financial profits in the U.S. Were coming from financial services.”
Stein: Over 50% of Betterment customers join via word-of-mouth
“More than 50% of our customers, when they, when we ask, how did you hear about us? They say it was a friend.”
Stein: The 0.25% advisory fee is Betterment's sole revenue source
“That's it. That's our only source of revenue. That's all we do.”