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Non-Tech : Interactive Brokers / Timberhill
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To: NOW who wrote (8821)12/4/2011 11:54:01 AM
From: Hank Scorpio  Read Replies (1) of 9012
 
Unfortunately, nothing yet. I am carrying a lot of cash, not just with IB but in my own bank accounts. I once thought that was safe, but not any more. I have considered buying the most stable stocks I can find, but given the state of the financial markets, that is not an option right now.

I am seriously considering getting out of the financial markets entirely. That would represent a major shift for all my assets so it cannot be done on a whim. Unless this little rule changes, however, that seems to be the ultimate end of this path.

It is also tempting given the price of hard assets like real estate in America. Only problem is these hard assets do not lend themselves to having readily available funds.

There is no easy solution and right now I am looking at worst case type of stuff. It would be nice if IB came out with a policy statement that said they will never commingle client assets, but I won't hold my breath. (I have not seen this, but maybe they already have) Besides, that policy is still null and void overnight with one margin call on a bad trade.

The more I get into this the more I hate the thought of my cash assets being subject to the whims of some idiot trader and the closer I get to saying goodbye entirely. Its one thing when they risk their own money and mine is firmly in trust. Its entirely different when the temptation is there to risk it all. You know its just a mouse click away for some.
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