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Post by dreamboatcruise on Apr 24, 2015 12:15:01 GMT -5
jpg... you must have missed my facebook postings from the family trip to the Belize last summer. Attachment Deleted
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Post by mnholdem on Apr 24, 2015 12:17:01 GMT -5
That was the longest he's ever gone without talking.
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Post by goyocafe on Apr 24, 2015 16:28:10 GMT -5
Wow! Just had 2/3 of my loaned shares returned to me today at Fidelity. I never counted on a consistent flow, but I wonder if it is telling of anything else to see loaned shares coming back in from the field?
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Post by liane on Apr 24, 2015 16:47:47 GMT -5
So you folks with returned shares will be the canary in the coal mine indicating the coverage has begun!
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Post by nemzter on Apr 24, 2015 16:57:51 GMT -5
Wow! Just had 2/3 of my loaned shares returned to me today at Fidelity. I never counted on a consistent flow, but I wonder if it is telling of anything else to see loaned shares coming back in from the field? You scared me for a moment there, just reviewed mine and they are still loaned out. Phew! LOL
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Post by Deleted on Apr 24, 2015 16:58:07 GMT -5
Wow! Just had 2/3 of my loaned shares returned to me today at Fidelity. I never counted on a consistent flow, but I wonder if it is telling of anything else to see loaned shares coming back in from the field? How long were they out there? How do you get notified ?
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Post by goyocafe on Apr 24, 2015 17:02:17 GMT -5
Wow! Just had 2/3 of my loaned shares returned to me today at Fidelity. I never counted on a consistent flow, but I wonder if it is telling of anything else to see loaned shares coming back in from the field? How long were they out there? How do you get notified ? I just look at the status on the website every day and they had returned 70% this afternoon. There is no formal notification when the shares get returned, but the monthly statement shows a daily tally of outstanding shares, interest paid, etc. Mine were out there about 6 weeks.
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Post by Deleted on Apr 24, 2015 17:27:55 GMT -5
Hmm I can't find it. I only see that daily info once a month. Last one avail is April 8
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Post by benh on Apr 24, 2015 17:40:38 GMT -5
So you folks with returned shares will be the canary in the coal mine indicating the coverage has begun! KC mentioned 1MM returned. Perhaps someone can enlighten us on duration between covering and returning. If it takes a few days, this could confirm a bear trap. ?
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Post by goyocafe on Apr 24, 2015 19:20:13 GMT -5
Hmm I can't find it. I only see that daily info once a month. Last one avail is April 8 Click on "Positions". There's link that reads "Loaned Securities" just to the right of "Individual (and your acct #)".
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Post by dreamboatcruise on Apr 24, 2015 21:06:13 GMT -5
Wow! Just had 2/3 of my loaned shares returned to me today at Fidelity. I never counted on a consistent flow, but I wonder if it is telling of anything else to see loaned shares coming back in from the field? That seems really odd since Schwab increased the interest they are paying just on Wed. Schwab told me that they pay a lot less because they refuse to lend to hedge funds. They didn't say it explicitly but maybe they tend to primarily lend to their own retail clients that are wanting to short. Maybe Fidelity returning shares and Schwab seeming to need to attract more means that the smart money shorts (hedge funds) have run the course and covering their short positions by passing them off to dumb money shorts (retail day traders and people that pay too much attention to Twit Tweets from The Street (tm)). I'm holding onto the trademark above in case Adam F. wants to use it. Catchy and aptly descriptive.
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Post by kc on Apr 24, 2015 21:42:17 GMT -5
Fidelity rep at 3:30 today told me 1,000,000 shares were returned. Mine are still out. I was trying to add some shares purchased last week. I just checked and my shares are still out in the lending program. So you folks with returned shares will be the canary in the coal mine indicating the coverage has begun!
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Post by goyocafe on Apr 28, 2015 17:23:11 GMT -5
Fidelity rep at 3:30 today told me 1,000,000 shares were returned. Mine are still out. I was trying to add some shares purchased last week. I just checked and my shares are still out in the lending program. So you folks with returned shares will be the canary in the coal mine indicating the coverage has begun! Just did my daily check. All shares still loaned, but interest rate dropped to 20%.
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Post by Deleted on Apr 29, 2015 8:11:10 GMT -5
<< So you folks with returned shares will be the canary in the coal mine indicating the coverage has begun! >>
I wonder who will be the first to NOT get their shares back because the honest short seller went belly up.
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Post by petech on Apr 29, 2015 9:01:25 GMT -5
I don't know if there is anyone on this board that directly lends to short sellers; you'd have to effectively be a financial institution to do that. Those of us here that do lend via Fidelity/Schwab do so on a fully collaterallized basis...and are lending to Fidelity/Schwab...not the short seller. So the risk is that Fidelity/Schwab default, not the 3rd party short seller. And again, even if Fidelity/Schwab were to default, the cash collateral is sitting at a major bank in our name....just in case. But if we're worried about Fidelity/Schwab...or some other lending institution(s)...not getting their shares back...well, I'm sure they have appropriate risk management in place. I can only speak to Fidelity, as that's who I deal with, but as they've been doing this for years and have never defaulted (Fidelity started in 2007....so even the 2008/2009 period had zero defaults), even history shows the risk is very little.
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