posted on October 15, 2000 04:29:33 PM
Firstly, where would you get bags to fit old LIFE Magazines?
Secondly, and this isn't really related to Ebay, but I wanted your opinion:
These stock trading sites such as Ameritrade and E-trade: Is there anything that protects you from losing invested monies if any of these sites goes under? How secure/safe are they?
posted on October 15, 2000 05:42:47 PM
Duh. Edited because I realize my answer didn't address your question at ALL, and I haven't got a clue as to the answer to your actual question, although I think it's the same answer as that to the question "If I have $ in my Paypal account and Paypal goes under, what happens to my $?", which I think is "You're SOL."
[ edited by HartCottageQuilts on Oct 15, 2000 05:46 PM ]
posted on October 15, 2000 06:45:20 PM
I am sure any shipping supply place would have bags that might work. I use t-shirt bags (plastic shopping bags) from Sam's Club for all my books...just fold to fit and seal closed.
I haven't used the sites you mention, but there are standards that all stock brokers must meet to be legit. You might prefer a "name" broker that you can deal with conventionally like Schwab.
posted on October 15, 2000 07:00:23 PM
I use bags unlimited - they do have a website, but I don't have the address at my fingertips - they sell all kinds of protective bags from paperback size up to life magazine size. They also have plastic cd & video cases.
posted on October 15, 2000 07:10:21 PM
You might prefer a name broker so you can pay higher fees.
All brokerage houses are insured. Don't worry about it.
posted on October 16, 2000 05:03:20 AM
Have used Ameritrade for quite a while. All accounts are insured by SIPC up to $500,000. The stocks you buy are issued in your name and you have full shareholder rights. You will receive proxy notices as well as annual reports from the companies you own stock in. Once the stock is issued in your name, it does not matter if the broker goes out of business. The stock certificates are held by their clearing house, but you can request that they be mailed to you if that makes you feel more secure. ( I believe their is a fee to issue and mail the certificates )
posted on October 16, 2000 05:59:19 AMMrJim - Obviously if the account holder has already purchased stock, the $ is out of e.g. Ameritrade's hands and into the hands of the company who issued the stock, so I don't think that's jonjuan's question. So does the $500K-per-account insurance cover funds the account holder has put into his e.g. Ameritrade account, but hasn't yet used to purchase stock?
Note that investments in commodities, certain limited partnerships, and "cash balances maintained solely for the purpose of earning interest" are NOT insured, nor are any funds held by a foreign subsidiary of the brokerage, so be sure that what you're investing in is indeed a security as defined by the '33 Act, and that the $ in your account isn't just sitting there for the purpose of collecting interest.
You should also be aware that, if your broker "goes toes," you don't get immediate reimbursement. First the broker's assets are distributed on a pro rata basis; THEN the SPIC steps in to make up the difference. So you may be sitting on your hands for awhile.
posted on October 16, 2000 06:12:57 AM
SIPC insurance covers the cash in your brokerage trading account. It doesn't cover the value of securities you might hold. Since many brokerage accounts offer a daily sweep of funds into money market funds be aware that SIPC insurance would not cover your holdings in those funds.
posted on October 16, 2000 06:22:08 AM
You should base your decision on a "name brokerage" versus a discount brokerage on your particular needs. If you do your own research and are regularly trading stocks then a discount brokerage offers a better deal.
If you are buying no-load mutual funds, want access to professional research, want to have auxillary benefits such as free checking that earns money market rates (like a Schwab 1 Access account) then you might find that a name brokerage offers you more.
posted on October 16, 2000 06:31:57 AM
Hello Jonjuan;
Bags Unlimited provides a wide variety of bags and plastic protectors for all sorts of collectibles. They have a wide assortment with good prices. Some eBay Power Sellers have been buying wholesale from Bags Unlimited and then sell retail on eBay. Avoid the middle man and buy direct.
