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Biotech / Medical : VD's Model Portfolio & Discussion Thread
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To: Rocketman who wrote (4727)4/23/1998 10:00:00 AM
From: Andreas Helke  Read Replies (1) of 9719
 
I can only tell you how Datek handles short selling accounting. Datek collects the money from the short sale and uses it for its own purposes. On top of it they collect margin interest from their customers. For all practical purposes a short sell is the same as a normal buy. The only difference is that Datek collects twice. First margin interest from the customer and second they can use the sell proceeds to collect further interest from other people. Datek is a good source for shares of difficult to short companies. But for people who hold short positions they are better of if they find a broker that does not collect margin interest on short positions.

Since the shares in most cases come from the margin accounts of other Datek customers, Datek in general does not have any costs for acquireing the shares.

Andreas
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