I bought Paypal stock and felt dirty doing it

paypal

This is the first time I’ve talked stocks on the blog (well, except for when Kohl’s banned me and other resellers and saw their stock plummet 10% due to missed earnings.)  Anyway, I remember this WSJ from Dilbert’s Scott Adams from back in the day – Should be open, if not Google ‘invest in companies you hate’.  Go read it and come back here.  It’s a funny read; especially the part about Apple.

Although I was able to re-instate my Paypal account even after Paypal mistakenly banned me, I still hate the company.  They actually still owe me $500 from a MyCash load in 2013 that I forgot to ‘accept,’ and so the money went back to MyCash.  MyCash said it’s not possible to refund back to MyCash.  Paypal said it was on the MyCash.  They kept pointing fingers that I gave up and chalked it up to the cost of doing business.  I bet it was probably refunded to one of Paypal’s ‘slush’ accounts – the Paypal account that actually sends the money to your Paypal account.  Oh wait, where was I?  Sorry for the tangent.  Anyway, I may despise Paypal more than Green Dot, Ebay, Bloomingdale’s, or Kohl’s.  And that’s why I bought their stock today at $37.

8 comments on “I bought Paypal stock and felt dirty doing it

  1. PayPal disgusts me.
    They take way too large of a percentage per transaction and I’ve had too many bad experiences with them.
    The worst experience occurred years ago when a buyer asked if he could pay for an eBay item using some money from his account and some money from his brother’s account.
    It was an expensive item ($1500) so it was an understandable request.
    Turns out there was a new detail buried in PayPal’s list of conditions that forbade receiving funds from two different accounts for a single item.
    Rather than warning me not to do so again in the future, or asking if I had shipped the item yet, they just sent the money back to the buyer two days after I shipped the item. I complained for weeks and they just responded with cold generic responses, and eventually stopped responding altogether, and I never heard from the buyer again.

    If I had to choose two words to describe PayPal they would be: greedy and heartless

    1. Oh don’t get me wrong. I hate them. They just let a scammer win a chargeback from 6 months ago. I don’t know how a big financial company like them haven’t implemented 2 or 3 factor authentication to ward off hackers, but to them, it’s not their loss; it’s the seller’s loss.

      1. The only options I do these days are covered calls. Used to play around with buying puts on obvious pumps jobs…

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