👍👍🙏Continue to enlighten others... Karma will be rewarded more than the extra bank's dividend you will get by helping those bank which if you are a shareholder.

Thank you Ram sifu

I have shares in all major banks in Malaysia and that fact is MMF is rubbish when the banks is paying less than OPR rates

You seriously need to learn what is OPR rates beforehand instead of letting sucking more money from you and rewarding us more

Why waste my time to seriously learnt abt opr rate when the amount I can save from it is little compared to what I can make from learning on other things...
You are very good at displaying the number of gains to 0.0000xx sen... That is good if that makes you happy by feeling smarter for spending time on that...
Not me.... For it is insignificant... For I hv more impactful things to attend to in life than the gains of versa over other mmf...
But I never ever talk down on others by telling how or what they got or did is "rubbish" compare to versa.
Just say how or what versa is good for.... Just excludes the word "rubbish"... Then that would be abit more holistically smarter... Not just smart in mmf n opr field but also ettiquiqe in open public forums. Be abit humble

From economics point of view, "Searching cost" is something retailers often forget. Same applies to choosing which SG brokers, moomoo vs Tiger vs IBKR vs etc.

The amount of time spent is higher in cost (an opportunity cost) compared to the extra savings you get from choosing another broker/MMF over the former one, since the cost savings may be too little as retailers often have small capital.

Unless you leverage, the small capital savings does not justify one's effort of searching and comparing. That time might be well spent on other stuffs that "maximizes one's utility". Maybe spend that time to analyze company's fundamentals is more worthwhile for some.

Actually you are wrong there. The time spend searching and comparing adds up over long time. It's like unit trust. If your are doing it regularly over long period of time, you want the cheapest possible.

Say one who spend USD10/month on commision Vs one who spends USD50/month on commision, over 20-30 years how much you already lose? Never underestimate fees and small change. Always maximise savings where possible is something I learned from Jack Bogle.

So still think not wise to go for extra savings?

I know. I am talking about very small difference. Obviously say for moomoo vs tiger vs etc, it's a few cents to one dollar in difference, and assuming you don't trade often.

For MMFs, the difference may be a few basis points, if you keep low cash balance, the extra few cents earned a year may be less important than a potential sell-down and you go in just once, that potential (marginal) earnings can easily outsize the (marginal) loses in risk-free interest earnings.

Of course, if interest rates are high, then the error is significant enough and deserves attention.

Search cost: https://en.wikipedia.org/wiki/Search_cost



This post has been edited by TOS: May 18 2021, 11:58 AM

I just used SingX last night..
Their charges were at SGD 219.68 (for RM 149,993.45 equivalent)
SingX exchange rates were RM 3.0901
However, after factoring into their charges into the exchange rate,
the final rates came out to be approximately RM 3.0761 ..
still more competitive than banks I guess

Never look at fees. Always see the amount of final currency you will received.

yup bro, but rates feels average compared to what they claim