marko
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Mar 16, 2011
- Messages
- 8,456
You still "own" the stock, on paper, but the brokerage has done all sorts of arbitrage with it. After all they don't offer you $500 $1000 $2000 to move your account to them, and then give you $0 commission trades, just to be nice. Big bucks are being made with your wealth. This has all worked for decades, but someday the music will stop.
So this is essentially an IOU, where they monitor my stock price and pay me accordingly (dividends and eventually the sell price) but I never really owned the stock per se?
Can I assume that also applies to MFs? I'm fine with them making money off of my money, but I always thought that I physically owned the shares I was buying; that if I called the company directly (JNJ, XOM, PG) they would be able to fine my name somewhere as a small share holder. No?
In the (very) old days, didn't you get a certificate from the company who's shares you bought saying that you were a shareholder?
[mind blown]
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