OT Joe, re: "Re Schwab not crediting the split"
The SNDK split was credited "some time today" most everywhere. MSFT reported it in the late morning while others posted it at random times. Anyone in the know had it down anyway so no big deal. So why punish Schwab?
I'm not sure I punished them, I merely reported what happened. But I think there are two good reasons.
First, it looked like an error to me. I have two accounts with Sandisk. One credited it immediately at open, the other didnt. I thought there was a problem with my account.
Second, I dont think its good enough. I pay them good money for my trades, the least they can do is keep track of how many shares I have. WIth a different acount balance its quite possible I wouldnt have been able to trade for a day because they had effectively reduced the amount of equity in my account. If I was 100% Sandisk, it would have dropped by 50%!. If I was substabtially in Sandisk, maybe I would have had margin calls or other problems?
It seems to me there is a difference between a site that reports prices, and your broker, getting it wrong!
BTW, I have on many occasions praised Schwab for its efficiency and slammed Datek, so in this instance I think its only fair to report whats happened.
Regards, Joe |
