This is a good company, first they truly helped reduce international transfer fees. They they continued to morph into a decent challenger bank.
Their Wise Interest account was amazing as of late 2023:
Instant access with representative national interests and 0.29% fees.
Brick and mortar banks were way way behind in that regard!
E.g. October 2023, Wise was doing 4.87% interest after fees, while Barclay's best option was 1.16% above 5k pounds on the Rainy Day Saver (5% below). Ridiculous!
  • the American stock market gives 10% / year, which is about 2x over 10 years. It has been the sure-fire best investment on a 10 year horizon for many decades, and should serve as your benchmark.
  • risky diversified investments (e.g. ETFs that track a market index) are basically the best investment if you can keep your money in them in the long term (10 years)
  • risky investments can gown down for a while, and you cannot take your money out then. This effectively means risk is a form of illiquidity
  • investment funds have taxes, which eat into your profit. The best investments are dumb index tracking investments (like an ETF that tracks the stock market) that are simply brainless to manage, and therefore have lowest taxes. No fund has managed to beat the market long term essentially.
  • when you are young, ideally you should invest everything into riskier higher yielding assets like stock. And as you get older, you should move part of it to less risky (and therefore more liquid, but lower yielding) assets like bonds
    The desire to buy a house however complicates this for many people.
This is a good concept. For the ammount most people save, having a simple and easy to apply investment thesis is the best way to go.
Video 1. All the financial advice you’ll ever need fits on a single index card. Source.
A person who gives financial advice, notably personal finance advice. Some of them are questinable guru-like beings, and many are on YouTube.
The financial industry does not serve society nowhere near its magnitude (London of course being the epitome of that). It serves only itself. It just grows without bound.
Video 1. The Spider's Web: Britain's Second Empire. Source. Some notable points:
Dude took down a bank.
One is reminded of Annie Dookhan.
Video 1. High Frequency Trading by WEED e.V. (2014) Source.
Ciro Santilli once talked to a man who had been working on high-frequency trading for the last six years.
He was quite nice.
Ciro asked him in what way did he feel his job contributed to the benefit of society.
He replied that it didn't contribute at all. It was completely useless. More than that, it so completely useless, that it was even pure. A bit like advanced mathematics, but not even providing beauty for anybody outside of the company, since everything is a closely guarded trade secret, unlike mathematics which is normally published for the vanity recognition.
A great mind can work in the most useless branches of finance, without the desire to improve the world, nor make it worse. Not to compete, nor be afraid, nor anxious. A Sand mandala.
Only being. Being, in the exact fraction of moment where bid meets ask.