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#43
11-14-2007, 01:21 AM
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Re: Etrade Potential Bankruptcy?
[ QUOTE ]
SIPC standard insurance is 500,000 with a 100,000 sub-limit for cash for your brokerage account. I would guess that ETrade has an Excess SIPC insurance that would insure your account even further. [/ QUOTE ] okay so anyone.... explain this to me. if someone bought $750,000 worth of mutual funds 8 years ago under Scudder Funds which later got bought out by CSFB (Credit Suisse) (and lets say $250,000 in stocks were purchased under Credit Suisse), and then later by DLJ Direct, then by Harris Investments, and then by ETrade... (or something close to that scenario) you're saying that these funds are PERFECTLY safe being held in the ETrade brokerage account? if ETrade goes belly up will a person be able to move them to another brokerage company within 1 week? how does the $500,000 gov't insurance play into this. i assume it must be for something else other than the mutual fund holdings referred to above. appreciate your help. thanks. [ QUOTE ] Your CASH is insured up to $100k per account and stocks INSURED up to $500k. They are SAFE!! However...if you still feel uncomfortable...move your account to another BD [/ QUOTE ] this is what i want to know. what stocks are insured to $500k????? also if a person has a large cash position over 100k they can put half in the etrade savings earning about 4.7% and the other half in the etrade money market earning crap. i believe this gives you 100k insurance on both. was also told that if you fax them beneficiary info that the coverage doubles to 200k on each. anyone know if this is true?? again thanks. 
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#44
11-14-2007, 03:34 AM
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Re: Etrade Potential Bankruptcy?
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from what I understand they made 650 million in trading commissions last year. They have 427 million shares outstanding. If they are really cutting back on their mortgage spending, costs are either zero or that analysts earning projections are wrong. Maybe they will continue in consumer loans and banking though. The point is its very unclear from their current statements what their business will entail next year. I still think it may end the year at 10 a share but its just too risky and unclear to take a position in for me. [/ QUOTE ] They announced in September they were pulling out of the mortgage bidness. It can't be done overnight. They said it would take 18-24 months. I wouldn't think the mortgage business would add any further problems though, they just have to deal with their held portfolio.
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#45
11-14-2007, 03:36 AM
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Re: Etrade Potential Bankruptcy?
[ QUOTE ]
[ QUOTE ] SIPC standard insurance is 500,000 with a 100,000 sub-limit for cash for your brokerage account. I would guess that ETrade has an Excess SIPC insurance that would insure your account even further. [/ QUOTE ] okay so anyone.... explain this to me. if someone bought $750,000 worth of mutual funds 8 years ago under Scudder Funds which later got bought out by CSFB (Credit Suisse) (and lets say $250,000 in stocks were purchased under Credit Suisse), and then later by DLJ Direct, then by Harris Investments, and then by ETrade... (or something close to that scenario) you're saying that these funds are PERFECTLY safe being held in the ETrade brokerage account? if ETrade goes belly up will a person be able to move them to another brokerage company within 1 week? how does the $500,000 gov't insurance play into this. i assume it must be for something else other than the mutual fund holdings referred to above. appreciate your help. thanks. [ QUOTE ] Your CASH is insured up to $100k per account and stocks INSURED up to $500k. They are SAFE!! However...if you still feel uncomfortable...move your account to another BD [/ QUOTE ] this is what i want to know. what stocks are insured to $500k????? also if a person has a large cash position over 100k they can put half in the etrade savings earning about 4.7% and the other half in the etrade money market earning crap. i believe this gives you 100k insurance on both. was also told that if you fax them beneficiary info that the coverage doubles to 200k on each. anyone know if this is true?? again thanks. [/ QUOTE ] You could always try something insanely radical, like... reading about the supplemental insurance on the ETrade website.
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#47
11-14-2007, 11:42 AM
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Re: Etrade Potential Bankruptcy?
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if etrade gets bought out at 6 lets say, are my jan 7.50 calls worthless? [/ QUOTE ] It depends when and if a deal is announced and subsequentally closes.If it was announced TODAY...they would still have some temporary value of course,albiet very small,as they would still be $1.50 OOTM.But you would still have TIME on your hands(until late Jan.) before your options expire...or the deal closes(which more than likely would be later than Jan,) The deal could even fall thru(if its a hostile T/O) due to shareholders/BOD feeling the comapany is worth more $$$. If a white knight steps(Mer,Leh,whoever) up with a higher offer.... much higher OVER your strike price BEFORE the deal closes...your options would be ITM,and be worth whatever price range in relation to the "new takover deal" What price are they trading now,in comparison to what price you bought them? SF [img]/images/graemlins/cool.gif[/img]
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#49
11-14-2007, 11:50 AM
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Re: Etrade Potential Bankruptcy?
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got in on monday at .40 and now they are trading at 1.00. I dumped and am going to wait until tomorrow to see what happens. tomorrow is a big day for them. [/ QUOTE ] GG You will never go broke taking a 150% profit SF [img]/images/graemlins/cool.gif[/img]
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#50
11-14-2007, 12:32 PM
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Re: Etrade Potential Bankruptcy?
[ QUOTE ]
got in on monday at .40 and now they are trading at 1.00. I dumped and am going to wait until tomorrow to see what happens. tomorrow is a big day for them. [/ QUOTE ] Nice trade. I don't think etrade has a clue what kind of shape they are in. I am leaving etrade and moving to another brokerage because I made a mental note that I would leave them if their stock dipped under $5.00.
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