Tag Archives: Fidelity Investments

Time, Methinks, Given Geopolitical Bedlam, To Get Into Some Long/Short Mutual Funds.

by Anura Guruge

Click to ENLARGE. From Fidelity.

I do not have the temperament, the patience or for that matter the essential cahoonas to short stock. I also REFUSE to have ‘margins’ on my trading accounts. I will only trade using my money. SMILE. So, in 40-years of active trading, some of it manic, I have NEVER shorted a stock. Yes, I do do options, but yet again, straight uncomplicated (but creative) CALLS. I am not greedy. I have been doing this for a longtime and in the last decade or so hit my stride. SMILE.

Well, I am still going to stay LONG this year — irrespective of what transpires.

Given that I have stayed long for decades, I am not about to suddenly change my philosophy to trading. PLUS, given how long I have been long — on some ‘decent’ stock (like say ‘AMZN’) — there is really no reason for I to panic.

But, over the weekend long/short mutuals came to mind. I, as is my wont, did some extensive and frenzied research. Yep, they seem to make sense. I do NOT plan to put much in them. Probably not even 5%! In a way they are but a diversion.

Anywho, I just wanted to share my thinking & research, over the weekend, with you — as I am like that. The two mutuals identified above look ‘OK’ to I. Both have ‘higher-load’ variants — hence why you see them basically twice. Check them out if YOU too had been thinking about long/short mutuals.

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by Anura Guruge

Fidelity Investments: FINALLY An Admitted ERROR In Their Cash Balance Accounting!

by Anura Guruge

Click to ENLARGE.

I have long suspected that Fidelity’s much vaunted computer system is not as infallible as they like to claim. As someone who uses it daily, multiple times a day, I have, over the years encountered various vagaries. But, when I call up, they (i.e., Fidelity) always have an explanation.

Not so TODAY. Caught them with their pants down. Very exposed.

My balances did NOT add up. I kind of know what they are (at any given time) and what was being shown just did NOT compute. It also was not inline with what they were showing on my ‘Positions’ page.

So, I called. As always their first reaction is to gently humor you and show that they are right and you are wrong.

Not so today. He tried …. then he was stumped. It did NOT add up. You could see it clear as day. He started blathering … he had to call me back.

He did.

IT WAS AN ERROR in their system!

A few others had called too.

Had to do with today being a HOLIDAY though the stock market is open. But, option trades from last Friday are not being reconciled today because the option markets (most likely in Chicago) are closed. Hence, the error. But, it should not have happened.

They were suitably embarrassed and chastened. I finally caught them.

Ha, Ha, Ha.

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by Anura Guruge

Google Pixel 2 (Oreo) — 6 APPs I Installed Disappeared, UNINSTALLED by System!

by Anura Guruge

I posted at “Android Central”. Click image to access my post … thread.

As some of you know (from all the posts on this blog) I got myself 128GB Google Pixel 2 phone for Christmas 2017 — my first real smartphone.

I got it mainly for the camera, but I am glad to have a decent phone — though I still prefer to use my ASUS ZenPad 10.1″ running Android 7.0 for most of the APPs because I like the bigger screen.

Between Christmas and Friday I installed 8 APPs from the Play Store. They are APPs that I also have on my ASUS ZenPad.

These 8 APPs were:

1. Garmin Connect

  2. Samsung Gear

  3. FAST (speed test from NetFlix)

  4. Amazon Kindle

  5. Bank of America

  6. Fidelity Investments

  7. Project Fi

  8. NVMS7000 (security camera app).

Configured them all with account numbers, passwords etc. AND used them all. Took me 20 minutes to set up NSMS7000.

This evening, i.e., Saturday, December 30, 2017, I went to use FAST.

It was NOT there!

Then realized other APPs were missing. Home screen nearly empty. See above image.

From the 8 installed ONLY Project FI and Samsung GEAR remained.

Others gone. Not in APP tray. Not in APPs.

Appears in the Play Store Library — but not as INSTALLED.

I did NOT uninstall them.

Just disappeared.

NOT good.

I just reinstalled and configured them — with the exception of NVMS7000. That takes time and I need my tablet to serve as crib sheet for the settings.

The missing APPS REINSTALLED. Yes, reinstalled. Now I have a screenshot record. Click to ENLARGE.

Called up Google Support. Got the Manila (Philippines) Call Center. That is a frigging JOKE. They are doing ‘ganja’. It is so strong you can smell it over the phone!


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by Anura Guruge

“RBC Wealth Management”: Incompetent, Disgustingly Expensive & Duplicitous!

by Anura Guruge

I have nothing but total utter contempt for this company and for the world of me cannot understand why an American, living in America, would ever think of investing with RBC. from what I have seen they have NOTHING, but nothing, going for them. They are desperate to cling on, at any and all costs, to the assets they hold and will go to extremes, including outright duplicity, to try and prevent you from withdrawing assets.

I would never have invested with RBC. I am partial to good ol’ American and British institutions, in particular Fidelity Investments, Barclays, Bank of AMERICA and TD Ameritrade.

I only had to deal with this miserable outfit because an elderly relative of Devanee’s had set up two 529 College Funds for her. He died last year and towards the latter part of the year I had to become the Custodian of these accounts since she, at 15, is still a minor. One of the accounts was with Blackrock and the other with bloody RBC.

Blackrock was a delight to deal with. Kudos and thank you. I was very impressed. IF I ever seriously thought of leaving Fidelity (and recently they informed me that I had been a customer for 30 years) I would consider Blackrock.

RBC was the polar opposite to Blackrock.

In December 2015 I had to first start the process of having the Custodianship transferred over to me. That is fairly involved and required ‘Medallion Guarantees‘ (which I had never heard of before in 40-years of financial dealings), death certificates and letters of intent. But finally got it done. Blackrock, on my very first call to them, went about setting up an online account for me so that I would have immediate access to the 529 account as soon as they received and processed the paperwork. Given that I am so used to doing my financial transactions online, that was neat and v. helpful. Not so with RBC. All the time I was with them I never had online access. I, nonetheless, managed to get everything transferred and set up with RBC.

After I took over the accounts my immediate druthers, quite naturally, was to have the 2 accounts transferred to Fidelity. Devanee already had an account at Fidelity and I, as some of you know, have a Fidelity tab open on this PC for 12-14 hours a day. It was just more convenient for me to have everything at Fidelity PLUS Fidelity doesn’t charge exorbitant fees and commissions.

So I set about trying to Rollover the two 529s using the Standard Rollover Form provided by Fidelity. And yes Fidelity helped me, over the phone, fill them in and get them correct.

In addition to the Rollover form Fidelity (quite rightly) requires a current statement of the account being rolled over so that they can make sure all is in order.

Getting a statement from Blackrock was no problem. I just logged on and printed one.

With RBC, as with all my dealings with them, I had to call them. I called them in February 2016 to ask for a statement. They said that they would be sending one to be, automatically, in April, for the first quarter — and that I should wait for that. I waited until the 3rd week in April. Called again. They said my statement was going out that week. I waited two weeks Nothing. Called again. They said they mailed me a statement. So I asked them what address they mailed it to. They gave me the address of the now deceased, previous custodian! I asked them whether that was the name and address they had for the account. They admitted that it was NOT and that this was in error. They also volunteered that this happens quite often. INCOMPETENCE.

They sent me a statement. I forwarded it to Fidelity, along with the 529 Rollover form in early May. A couple of weeks later, mid-May, I had a letter from Fidelity saying that they had sent to Rollover form to RBC and that they expected the proceeds to sent over within a couple of weeks.

Here are extracts from the Rollover form sent to RBC. Fidelity helped me, as they did with the Blackrock form, to fill this in and they, OBVIOUSLY, checked it, diligently, before they sent it over to RBC. Fidelity does not screw up often.

Click to ENLARGE and see …
(Sorry I wiped out account numbers etc.)


I waited, patiently, until June 20 before I called up Fidelity to ask why the funds had not arrived. They asked me to call RBC. I did.

RBC said that on May 19th they had REJECTED the Rollover because the Rollover form did not contain Devanee’s name!

That is a bold face lie. See the proof above. Plus Fidelity has copies of what they sent. Devanee’s name and social were on the Form, in the right place.

They just did NOT want to execute the Rollover because they didn’t want to lose the assets.

They claim that they sent a rejection letter to Fidelity on May 19th. Well Fidelity never got it.


I was beyond livid my now. Told them to liquidate the assets and send me a check. Said they couldn’t because there was a BLOCK on my account! Why was there a BLOCK on my account. Because they had received mail saying undeliverable. And why was that? Because they sent it to the P.O. Box of a deceased person! INCOMPETENCE.

I finally got a check. They charged $149.94 to sell 148 shares of a U.S. company! In totally this SCUMMY company charged me $351.94 to sell 184 shares! In essence they exploited a 15-year old child. Their commission came to 6.15% of the proceeds. That is disgusting.

So BE WARNED. RBC is scum. Stay clear of them. Why an American would want to deal with this outfit when WE have world class institutions — like Fidelity and Blackrock — defies comprehension.

That is it. Nothing more that needs to be said.


From ‘MarketWatch.com’. Click to ENLARGE.


Well RBC was recently DOWNGRADED to ‘negative’ by S&P. Click on image to access the full original.

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by Anura Guruge

Fidelity Website Down — 2:50pm, Monday, June 13, 2013.

by Anura Guruge


Has been like this for about 5 minutes. Working fine an hour ago. Bummed. I need to check my positions. SMILE.

It is back up!

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by Anura Guruge

Fidelity New Mobile APP Is Definitely More User Friendly & Useful.

by Anura Guruge


I ‘used’ Fidelity’s (much vaunted) new mobile APP on my Lenovo Android 10″ Pad this morning. Sure more welcoming and informative than the old one. I liked it. At least had some useful market data in the opening screens — which was nice.

Easy enough to use. Responsive too. Didn’t use it much or for long — as is my wont. I was just scanning stock prices … SMILE. Not sure (and I could be wrong) whether they have done naything major when it came to the account ‘Positions’ display. I tried to reduce it to see more columns but that didn’t work. That was annoying. When viewing ‘Positions’ I like to see as many columns, if not all, in one go. That they have added a NEW ‘analyst sentiment’ column, with color coded boxes for: very bullish, bullish, bearish & very bearish is NEAT. But that is way over. I would like that on my desktop view too. [Yes, I will call up and request … though nothing will happen. They just ‘yes’ you to death!]

Anywho … not that you will have a choice (since the APP will automatically update) … give the new APP a spin. Definite improvement. And that is always something.

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by Anura Guruge

Fidelity BillPay & Cash Management Flawed.

by Anura Guruge


I am a huge fan of Fidelity Investments. I have been a customer for over 24 years and they are very nice to me, at least 99% of the time. In general I have nothing but GOOD to say about them. They do try.

But recently I discovered, to my cost, that their cash management policies, that have always been suspect, can lead to SERIOUS problems when it comes to Bill Pay.

Fidelity, of late, has been enticing all of their customers to partake in their Fidelity BillPay — and even offering incentives.

Well, be careful. Very careful.

A very nice lady representative (and 99.9% of Fidelity’s reps are OUTSTANDING) summed it up yesterday, very pithily as such: “However hard we (i.e., Fidelity) try in the end we are NOT a bank and continue to be a traditional brokerage house”. And that is the issue. Though they like to act and quack like a bank, in the end they are not.

Their cash management has always given me pause — though after all these years I have kind of come to terms with it. But it still bothers me.

If you buy stock (or equivalent) at Fidelity they IMMEDIATELY take your cash. Bang. Actually you can’t complete the transaction unless you have the cash or margins (and I don’t deal in margins (since I know I will be tempted)). That is OK.

But when I sell any stocks (or equivalents), HELD at Fidelity (and as such known to be liquid and beyond reproach) they don’t let me have cash to WITHDRAW till 3 days later. The old, traditional brokerage house 3-days to settle. That is duplicitous and disingenuous. But they get away with it because you have no choice. IF you trade with Fidelity those are THEIR rules.

Well Fidelity BillPay sometimes falls foul of their Brokerage House mentality and rules. You may have cash in your account and their system will tell you that you have cash BUT when it comes to BillPay that cash might not be accessible. It is crazy.

Best to do your bill pay through a band and just transfer funds from Fidelity to the bank. That is what I am now doing — via Bank of America.

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by Anura Guruge

Fidelity Investments Mobile APP Not Meant For Heavy Duty Trading.

by Anura Guruge


Click to ENLARGE and view here. Screenshot from Google Play APP store. NOT MY ACCOUNT. But to be on the safe side I redacted the dollar value in case somebody thought I had that much money. I wish. Smile.

Though I have the Fidelity Investments Mobile APP for Android on my pads I do not use it that often. I don’t need to. I am on my PC enough of the time and when I travel I do not trust Wi-Fi to access any of my financial data. So most of the time when I fire up the APP it is to see whether a specific transaction, e.g., a transfer, has occurred or to get a snapshot of my positions.

Whenever I have used it, however, I have had this uneasy feeling of ‘Hhhhmmm … that is different … that is not right’!

So today, Good Friday, with the Markets closed and the ice/sleet precipitation precluding my morning run I had some spare time. I brought my Android Pad up to my desk and checked what the APP showed against what I am used to seeing on my desktop.

And the views are different. And we all know why. They have to cater for the small screen sizes on phones. But the changes are interesting. On the desktop view, the QUANTITY, is the 8th column. In the Mobile APP it is the first. Hhhmmm. Strange that. Most of us, I would have to think, typically know what the quantity we own of a position. Maybe that is just I — probably because I can only afford so few of any position. SMILE.

Since I hadn’t talked to them in weeks — and I like my regular chats with them (and they claim likewise (though they have to say that)) — I called up Fidelity. With the Markets closed I knew it would be a light day for them. Very pleasant and helpful as ever. Confirmed that the views are different.

Also confirmed something else which I suspected. While stock prices will reflect the latest OPTION prices on the APP may not be as up to-date! So if you own lost of options as I do your total account value will be different to what you see on the desktop because of the variation in option prices! Very interesting. And that explained much. I had seen that discrepancy. Now I know.

Also … The APP is not designed to let you do much serious RESEARCH. You need a desktop/laptop for that.

OK? Just wanted to share this. 

Related posts:
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by Anura Guruge

Unstinted Kudos & HUGE THANK YOU To Bank Of America.

Anura Guruge, June 8, 2013.

Anura Guruge


Over the last 16 days, ever since my disastrous, nightmarish move to DirecTV, I have just felt abused, raped and degraded by DirecTV and TDS Telecom (who handle my DISH billing) — though to be fair during that same period I had service from DISH (yes, DISH), Google (on one of our 3 Nexus 7 pads) and Direct Sat (who refunded me my whole payment) that exceed expectations.

But, I had still been feeling battered and bruised — and mentally exhausted.

A wonderful company with great values. I love interacting with Fidelity. It is the ONLY phone call I enjoy making and even look forward to!

This morning as month end approaches I had to do some financial transactions. I first called up Fidelity. I had been saving this call till today. Dealing with Fidelity is ALWAYS a pleasure. They are so nice. So helpful. So pleasant. I am not a phone person. Never have been. But, I enjoy calling Fidelity. So, I called them up. As ever, piece of cake. Smooth as can be. No hassle. No aggravation. Just pure unadulterated ‘service with a smile’. I like Fidelity.

Then I called up Bank of America. I often see folks, especially on CraigsList (Boston & NH), ranting, foaming at the mouth, about BofA. I have been with them for a long time. I really have never had any problems with them. I have always found that they do their very best to help you out. I have multiple credit cards with them and we have a checking out with them — since they were the only bank in the U.S. that was able to accept, electronically, my very small pension from the U.K.! I enjoy dealing with BofA too — except that with them I also get to interact with them in person if I visit one of their local branches in Concord, Manchester or Rochester.

So this morning I called them. As nice as they can be. Answered all my questions. Then out of the blue, this rep says something along the lines of: ‘You have been a good customer for a long time. You have an excellent record with your credit cards. Let us do YOU A FAVOR and help you out even more …‘. No, I am not stupid enough to tell you the details. But, I was staggered and it takes a lot to stagger me. This was way beyond anything I had expected. It was like winning the lottery! Wow. I am impressed, and humbled. There was absolutely no reason that BofA had to do what they did. I had not asked for anything. I was just going through some numbers.

Suffice to say I am delighted. Yes, it was a big, unexpected favor. Of late I am totally jaundiced. I expect nothing from people. As I pointed out the other day, of late I can empathize with this squirrel and TDS and DirecTV have a lot to do with that sentiment. So, this was really great. Made my day. Actually it has made my year!

Fidelity Investment, fidelity.com, DNS Has Been Attacked. Site Inaccessible. YOU Need To Contact YOUR ISP To Have DNS Refreshed.

Anura Guruge, June 8, 2013.

Anura Guruge


I noticed around 11 pm last night that I could not access fidelity.com.

That was strange since I access fidelity 30 – 40 times a day! I tried intermittently till 1 am and found that it was still down. That seemed very strange and unusual. I very rarely see fidelity down.

I tried to access them this morning. They were still down.

I called them up (and the phone number is 1-800-FIDELITY).

I was told the most amazing story.

It is a DNS ‘corruption’ BUT they won’t admit that they obviously have been attacked and attacked bad.

They want ME to contact my ISP and ask for a DNS refresh. Yes, I am on hold with TDS as I type. This is amazing.

This is NOT good.

So this is a heads up.

I will keep you posted.