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Cheat Sheet Q & A-
I have a 10 year old car that is owned outright. I don't care to carry collision because of the cost of collision insurance and the value of my car. What is the minimum coverage I have to carry by
Bottom Line: The answer is $10,000 & $10,000. The state of
Here’s a consideration for you. If you are choosing to go with minimums, do you have anything to lose? We may tend to think of insurance based on the value of a vehicle but the risk of loss is much higher. If you don’t have assets to lose – then it may be a good solution for you to go with your minimums. If you do have savings and assets you could lose if your insurance coverage doesn’t cover your liability if you caused an accident – it could be a really bad idea to go with the minimums as victims could pursue you personally for damages not covered by insurance coverage.
For any other questions here is the direct link to the Florida Department of Highway Safety and Motor Vehicles:
If you have a question or topic email me: email@example.com
The danger of the AP Twitter hack attack going forward:
Bottom Line: So what was the motivation of the Twitter hack attack on AP yesterday? Was it just to prank and cause a stir by saying the White House had been bombed and the President injured? Much more likely it was to capitalize on the disruption to the financial markets.
A Syrian based hack attack group has taken credit for the hack attack. Maybe they are the group responsible but… There likely was a money trail attached to the attack.
What was the motive for the target of the attack (AP) the medium used (Twitter) and the nature of the falsehood (attack on White House and President)? Twitter is often used as a leading breaking news indicator which would be the most effective way to create short term volatility and reaction in financial markets. AP as a credible news source would serve as the perfect host for the false info and what better target for fear than an attack on the White House itself? Put it altogether and you’ve got a quick cocktail to create a big negative reaction in the financial markets.
There are numerous theories regarding the actual group behind the hack attacks. Even if it was the Syrian group, were they paid off and by whom? Some believe there are ties to the mafia (here and/or abroad). Foreign hedge funds and/or Governments. Some of these theories are based on some of the trading activity before and after the attacks. Here is how this could have worked…
Right before the hack attack:
The result would be 5 minutes of super profitable ill gotten gains. What’s worse is that it worked. This a like a market wide version of insider trading for anyone capable of pulling it off. Because of the success of the attack we’re likely to see an increase in this type of activity – especially because of the difficulty in piecing everything together. Insider trading is the most difficult case to build and prove and that’s when you’ve identified the company and the players. Imagine how difficult it would be to piece together when you’re looking at the entire financial world and anyone around the world?
AP wasn’t the only company hit… Schwab customers were left without access:
Bottom Line: So in the mist of the financial market chaos many customers of the largest online brokerage firm were locked out of their accounts. If you’re a Schwab customer and tried to access your account just after 2 yesterday – you weren’t alone in being locked out.
Schwab suffered a DOS (denial of service) attack that bogged down the site preventing customers from being able to access their accounts and trade. This is just too coincidental to the timing AP Twitter hack attack. And was yesterday just a test?
If hackers can create false market reaction and prevent traders from accessing their accounts what are the implications? Many traders use limit orders that could be triggered during a false event that creates market volility. Given the uncertain state of these events, I’d be cautious in my use of stop and limit orders incase there is more of this to come.
Dropping gold prices has only led to higher demand of coins:
Bottom Line: So usually when you see a serve sell off a commodity demand for that commodity actually decreases along with the price. Not this time around.
Gold is about $500 per ounce off of its all time high (at $1420 at the time of this entry) and suffered its worst two day stretch in thirty years. The result with the gold coin market… Record sales. Sales of the popular one tenth ounce coins have actually been suspended by the
In car tech guidelines – and is more in car tech leading to more accidents?:
The National Highway Traffic Safety Administration issued new “suggestions” for in car techonology yesterday. The suggestions included:
While these are suggestions to the auto industry and not mandated as of yet; its possible and perhaps likely that these new guidelines could be future mandates (as has happened previously). The claim by the NHTSA is that in car tech is becoming too distracting and coulpresent a safety issue. While that claim seems to make sense, those opposed to these guidelines offered up these thoughts:
Both sides have a good point. For now its up for discussion but we all know that more techonology will keep coming at us behind the wheel, its just a matter of how we’ll be interacting with it.
Nissan Versa is the cheapest new car again for 2014 models but…:
Bottom Line: Sometimes you get what you pay for. Like 2013, 2014 Nissan Versa’s carry the smallest price tag of any new car in the
For the first time since Consumer Reports tracked auto user ratings, a majority of car buyers of a particular vehicle wouldn’t buy it again. That vehicle is the Nissan Versa. Only 49% of the 2013 Nissan Versa owners said they’d be willing to buy another one. By comparison the best performing vehicle, the Chevy Volt, checked in with 93% of its buyers saying they’d buy another.