Saturday, October 30, 2010

NOT Material Nonpublic Information

I opened up a high yield savings account with American Express Bank.  I mention it because I finally decided that there's no reason not to earn 1.30% with them instead of a few basis points at Etrade and Citi where the balance of my money is/was.   Anyway, I mention it because I've been absolutely bombarded with their ads everywhere I go online.  It's rare that I get hammered with advertisements for products which I may actually care about.

I called customer service today to ask about some electronic transfers I'm setting up, and after the agent answered my questions, I asked her if they'd been really busy lately.  She said that this high yield savings account campaign was the biggest ad-blitz they'd ever undertaken, and that they were extremely busy opening up new accounts.  I have no position or opinion on AXP stock, and I don't know what sort of deposit gathering The Street's analysts are looking for, but I'd expect AXP to garner a metric crap-ton of deposits this quarter.  I'm not sure what the implications of that are for them, but anyway.

note: for prior posts about the intricacies of identifying insider trading, see this and also this - good comments in those threads too.



But What do I Know? said...

Wow, you've got some serious coin, KD. For me, a 1% pre-tax bump-up in yield doesn't start to become interesting until we're talking 500 big ones. . .

Just sayin'

EconomicDisconnect said...

Guess what KD? I cooekd beef today! I know, shocker. Prime Rib cook pics up tonight.

Unknown said...

Kid, Perhaps you shouldn't post stories so soon after returning from a Phish show.

Anonymous said...

No big buxx needed.

The previously talked about Ally Bank is currently paying 1.24% on small balances (i.e. under $1000). FDIC insured.