brads84
Joined 14 years ago
Karma
20
Submissions
8
Member since
Jan 18
Recent submissions
Comment · 12 years ago
Comment · 13 years ago
Insurance makes money on float and usually loses money on insuring something over the long term. I can't remember the exact numbers, but GEICO might payout something like 103% (or 3% MORE than you paid them) over the term of your policy with them.
How do they make money? http://seekingalpha.com/article/419731-buffett-on-insurance-...
Basically they invest your premiums during the time you are paying them and make money off of holding your money. Then the other insurance agencies might lower their costs and end of paying out 104% (or whatever) of what you've paid in. This competition pressures the market to close the gap between what you can make on the float and what you can charge your customer, but there is going to be some gap and that is the profit margin.
If the insurance company can make a high ROI on the float, they can charge less in insurance rates and still make money.
Comment · 13 years ago
NM, isn't a gif after all.
Comment · 13 years ago
Off Topic: How do you guys make that awesome gif video on the homepage without making the file size too large?
Comment · 13 years ago
I hope HN isn't getting large enough that we start to see more infographics like this.
Comment · 13 years ago
100% Agree. Asana is awesome.
Comment · 14 years ago
I'm surprised how many people are agitated by the article suggesting that they can stop working earlier if they save more money.
As the article stated: "The only reason Mustachians will remain a rare breed, is because this article will never appear in USA Today. (Or if it does, people will be too busy complaining about how it can’t be done, rather than figuring out how to do it)"
If you are just short enough on time that you can't filter Bitcoin related posts but have enough time to cruise HN then just skip over BC articles.
(This coming from someone who doesn't really care about BC news. But it's come from my learning that it's faster to filter out unwanted emails than to unsubscribe... that is unless you want to make a point.)