Gyroscopic Investing

I happened to have a little bit of dividend cash at Fidelity and Schwab, so I put them head to head:

Bought two shares of VTI, hit BUY button at almost the same time... within 1/2 sec. Market orders.

Fidelity filled at $193.66, and Schwab filled at $193.665.

If you have a million dollar trade, the "Schwab tax" would be $26 (and I do have trades that size, since I trendfollow with almost all of my portfolio). Chuck is stealing my lunch money.

And they slow-pay my divdends, and slow-approve my ACH transfers, and I can't do dollar-based trades but am left with tens of $ in my account which I can't deploy unless I buy their mutual funds to soak up those extra few Dollars. I hate doing that.

Glad I moved most of my stuff to Fidelity. More will move in future as bonds and CDs mature.

ochotona wrote: ↑Thu Dec 31, 2020 12:07 pm Bought two shares of VTI, hit BUY button at almost the same time... within 1/2 sec. Market orders.

Fidelity filled at $193.66, and Schwab filled at $193.665.

1/2 a second on a market order is more than enough to account for the different fills.
I don't think this one comparison tells you anything useful yet.

Yeah need to keep repeating over time

ochotona wrote: ↑Thu Dec 31, 2020 4:15 pm Yeah need to keep repeating over time

That will work.

When my tactical portfolio go risk-off someday, I will have ample opportunity to sell VTI, VWO, and other ETFs and buy IEF the risk-off asset across several accounts on Fid and Sch. That will be interesting.