The Justa and Lars Honors Bob Brinker Investment Club Thread Message Board

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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread

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Dec 10 4:00 PM EST

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To: Investor2 who wrote (6697)	11/6/2011 4:45:04 PM
From: Boca_PETE	Read Replies (1) of 10065

I2, On "a slow-but-steady quest to simplify my finances... consolidating accounts", do you a one speck of reluctance to do this putting of eggs in fewer custodian baskets given the growth of government fiscal irresponsibility in recent years? Do you think Globaly diversifying one's investment account custodians (ie. choosing a few quality internationally headquartered custodians say in Canada, Europe, Hong Kong, Singapore, Australia, New Zealand, Japan) might provide prudent protection in the event America sinks into the Greek or Argentinian situation in a few years? I realize there are added annual IRS Reporting of Foreign Account requirements if one does this type of diversification (ie. Form 8938 "Statement of Specified Financial Assets" irs.gov ). If not, can you explain why you feel this type of diversification would fail to provide the additional protection. Best wishes, P

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