Stock Market-So you think you own some stocks-So you think your Stock Portfolio is Doing Great?
You might be shocked to learn that your stock portfolio is nothing more than a piece of paper stating that you own some stocks. Worse that piece of paper may not be worth anything. (see the video below).
(This stock certificate was true ownership of a corporation when the stock market got started-today it’s very hard and costly to get one).
You see most if not all stocks, 401k’s, mutual funds and ETF’s are never settled (ie: They are never placed into your name but rather are held in a “street name”-more commonly known as being held by the DTCC )
Thus you do not really own them.
If we have another financial collapse…you could be left holding nothing if your stocks, 401k, mutual funds, ETF’s were not in your name. Worse to get these securities in your name, it has become extremely costly for you to get ownership (don’t worry its convenient for your dealer or broker to hold them in a street name!) Watch the video for all of the details.
Plus, Stagflation is looming, I am sure everything will be fine as the government says everything is fine…
This is where Cryptocurrencies and Bitcoins are better because you have PROOF you own them and unless you give up your private keys. Nobody can take them away. Plus you have the public blockchain to validate them at any time.