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From: morse@leadsv.UUCP (Terry Morse)
Newsgroups: net.invest
Subject: Re: Stockbroker selection, discount brokers.
Message-ID: <712@leadsv.UUCP>
Date: Wed, 4-Dec-85 16:52:43 EST
Article-I.D.: leadsv.712
Posted: Wed Dec  4 16:52:43 1985
Date-Received: Sat, 7-Dec-85 17:04:21 EST
Distribution: net
Organization: Lockheed, Sunnyvale CA
Lines: 15
Summary: aren't your securities insured ??

> 
> Absolutely take delivery.  So far this year, there have been 10 broker
> failures (according to yesterday's Wall Street Journal).  Any of them
> can fail, for example, Bache did.  Even if they don't fail, they can
> and do loose track  of certificates.
>    ...Larry Mazlack

I'm confused.  Aren't brokerage housed insured?  They advertise that your
securities are insured up to $1 million or some amount like that.  I thought
that was supposed to protect you against broker failures.

I have never taken possession of my certificates, citing the hassle of
traveling back and forth from broker to safety deposit box as the reason.
Am I taking an undue risk by not taking possession?  Has anyone lost any
money in these recent broker failures?