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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?


To: F. Lynn who wrote (1385)6/16/1999 10:03:00 PM
From: lindend  Read Replies (2) | Respond to of 10293
 
I'm still looking for a third broker for those cases where DLJ or Schwab can't locate shares (DLJ is very good for shorting).

Bill has had success with Fido, but what about Discover brokerage? Anyone with experience with Discover?

Thanks.



To: F. Lynn who wrote (1385)6/17/1999 10:38:00 AM
From: Marconi  Read Replies (1) | Respond to of 10293
 
Hello F. Lynn: interest on short proceeds
Ask your broker to find a way. The standard prohibition some years ago was the short proceeds could not be at risk. The rules probably have changed. One way around that was to invest the proceeds in T-bills. It probably takes 4-5 zeroes to make that worthwhile. My broker has arranged to yield a money market rate on my balance, which is a helpful ROR. At first I was told it could not be done. But after insisting something could be done with the balances, the money market rate was offered. It is the equivalent apparently of some daily fanagling by me which the broker arranged to automate in the back office, keeping me and the broker out of the loop.
Best regards,
m