Why One Company Technically Owns Every Stock in the US
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- čas přidán 21. 11. 2022
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You have to release a limited edition shirt now with ‘Weird and Confusing Legal and Logistical Technicalities’ now 😂
I would wear that
Am I the only one imagining a James Bond movie where the bad guy tries to steal all those stocks, which sounds scarily easy to do? :-)
@@realcanadian96 Not sure about that, but I would definitely buy it anyway
Only if the shirt has a notable brick pattern.
I love that
I am based in Canada but invest mostly in the US markets. I am looking for financial advise and guidance as I want to be invested in the market but between work and family commitments there is simply little time. I have a portfolio of about $400K at the moment all in equities.
The market is volatile at this time, hence I will advice you get yourself a financial advisor that can provide you with entry and exit points on the share/etf you focus on.
Having an investment adviser is the best way to go about the stock market, especially if you don't really have time to focus on market trends, I've been in touch with a coach for awhile now mostly and I made over $1.5M within two years I started investing
Having an investment adviser is the best way to go about the stock market, especially if you don't really have time to focus on market trends, I've been in touch with a coach for awhile now mostly and I made over $1.5M within two years I started investing
Partnering with a financial advisor has transformed my approach to investing. Their expertise and personalized guidance have not only helped me navigate complex financial markets but also optimized my portfolio to achieve my long-term goals efficiently.
This is definitely considerable! think you could suggest any professional/advisors I can connect with? I'm in dire need of proper portfolio allocation
Fun fact, if you own property at a co-op, you do actually own stock. The transfer process requires you to go through an agent to issue the stock in your name, meaning some people do own company stock
Computershare?
Exactly, like 1/3 of gamestop shares are owned by retail investors!
But the difference is co-op's don't have CEOs and usually have only a few dozen owners instead of thousands of owners like in a corporation.
@@catdogmousecheese I assume that they also aren't publicly traded. If a co-op went public I wonder if the existing stockholders would retain legal ownership of their stocks until they chose to sell them or if they'd be required to transfer the actual stocks to Cede and Company while retaining the rights of ownership.
@@GeorgeWashingtonLaserMusket I believe they are actually private for profit companies. When you actually buy property there, what you are actually buying is an amount of stock in the company, who actually owns the land. Then, the company signs a permanent lease with you for the apartment you actually want to live in.
This distinction doesn't really matter as far as living there goes, but if you needed a mortgage the bank will hold your stock certificate as collateral while you pay the loan
Now I want a heist movie where the team breaks in and steals all the physical stock papers.
So an hour later, I wasn't the only one thinking this would be a great James Bond movie! :-)
or on youtube: "How I stole the entire American economy. NOT CLICKBAIT"
@@arsvi123 Not every part of the American economy is comprised of companies traded as stocks.
The stock market would close for a day, and the next day, Congress would pass a law making the physical pieces of paper worthless and unnecessary but still requiring trades to go through DTC. Cede & Co. would still legally own the stock, even though the paper was taken away from DTC. So nothing would actually change, except for a brief headache, and even if the criminals got away with it, the paper would be worthless.
(To be clear, the stocks are all issued in Cede & Co.'s name. Just because you get your hands on it doesn't mean you own it. You would need to go through that whole process to transfer it from Cede & Co. to you, which wouldn't be legal even with Cede & Co.'s permission due to the contract restrictions on those stock.)
But who will they sell them to?
The primary reason most people invest in stocks is the potential return compared to alternatives such as bank certificates of deposit, gold, and Treasury bonds. For example, the average stock market return has been about 10% annually since 1926; long-term government bonds have returned 5% to 6% annually during the same period.
Stock market's returns often significantly outpace the rate of inflation. For example, the long-term inflation rate has run about 3.1% annually since 1913. That compares to a double-digit annual return from stocks. Stocks have been a good way to hedge against inflation.
Many companies pay dividends, or a portion of their profits, to investors. The majority make quarterly dividend payments, although some companies pay monthly dividends. Dividend income can help supplement an investor's paycheck or retirement income.
I need a guide so i can salvage my port-folio due to the massive dips and come up with better strategies. How can one reach this advisor?
She goes by ‘’NATALIE NOEL BURNS’ I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
A company I advise had physical stock certificates of a listed company kept in some old director's drawer for decades. When it came to sell - we had to go through a months long process of sending the original physical copies to the stock transfer agent, whom then 'digitised' them and 'delivered' them back to our broker. Only then could we sell. We still have a few more stocks like these on our books. Such a headache.
Did the delay affect the selling price? Would it be possible to get the remaining physical certificates swapped out for digital versions without a sale pending? If so, it seems prudent to go ahead and get the process started.
@@MikeDCWeld It's a publicly listed stock, so your beholden to the stock market even though your particular shares are on paper. You only get the price at sale. This didn't matter for us, as we weren't in a rush. You can of course kick off the process to digitise without a sale pending, yes - but anything under a certain value we haven't touched. We may get a decision over our heads to sell - and I'd argue the case for why it's not worth our time :'D
A lot of people go through a process similar to this if they make an investment in a private company that subsequently floats on an exchange. You may find your shares are held by the stock transfer agent and you have to fill in a form for your broker to request to 'receive' the shares digitally from the stock transfer agent. You could still sell without the shares in your own brokerage account, but depending on the stock transfer agent, you might have to get the legal counsel of the floated company to write a letter to the stock transfer agent that you want to sell some of your shares! Other stock transfer agents have online platforms similar to the user interface of a normal brokerage service - but they are few and far between.
@@sssdddkkksss what if you hold a paper certificate from long time ago, and company has done several stock splits since then. Do they adjust the number of shares you own accordingly?
Best and sadly most accurate line ever:
"Congress did something they almost never do, and passed legislation to fix a problem."
I wish this weren't so accurate and there were signs of it improving, but signs seem to show it getting worse somehow...
bro really? 😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳
@@frenlyfire ? Not sure what your response is to.
Are you saying Congress is getting better?
It’s not correct to say that they fixed something. Centralizing on the DTC enabled naked shorting, high frequency trading and a lot of other bad shenanigans.
The thing is, you can get around this system by the "DRS" (Direct Registering System). Your own name is written to the stock, there are no loopholes, or IOUs, just pure ownership.
Hello ape!
Yes. This is possible, but then selling becomes an absolute and expensive pain in the ass
@@arianbehnami1050 this is for investors who want to own shares of a company. Not for people wanting to trade stocks fast without caring about the underlying business.
@@ensoniq2k you still have to sell at some point and it’s a lot more difficult without beneficial ownership.
@@arianbehnami1050 with Computershare it is no more complicated than anywhere else. You pay a higher fee but that's all.
If you’re in Australia, you legally own Australian stock (with some nitpicky exceptions depending on your broker). Not beneficial ownership, but full, legal ownership.
It's not just one company, it's The Company.
Laughs in Prison Break
You can directly register your shares with the companies transfer agent and own the stock in YOUR name. I own multiple tickers that use computershare as the companies transfer agent.
... and then Superstorm Sandy hit, and flooded the lobby of 55 Water Street to a depth of 3 feet, which doesn't sound too bad unless you know that there is a concourse *below* the lobby, and two sub-levels below that, and that DTC stored all those paper certificates down on space in the sub-levels. I know, because I worked at 55 Water then and still do -- and a lot of those certificates apparently became pulp mush (as did much of my own employers' records that were stored down there as well). Not great.
Pulp mush that we know has something printed on it is still technically just as valuable.
Hit 247k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months.Started with 11k in last year 2023.
Wow, that's more than a mouthful of profits you're making. How do you achieve this feat consistently? You must be a genius !
I'm 45 and have been looking for ways to be successful?
Have you not heard of mrs. Amelia Jason’s ?
She has this skill of making complex crypto concepts easy to understand and is truly commendable.
You know her too? I'm also a proud beneficiary of her super platform. They’re the biggest custodians.
Actually, you can register shares in your name through a company’s transfer agent, such as computershare.
DRS baby
We're literally everywhere
I drs my shares like I consume bananas
Institutional owners and insiders also own stock (not available to normal people), such as with ATM stock offerings. Basically, unless you want to play with options/futures and other short-term investments, there’s not much incentive to use a broker if you are confident in the stock you want to own.
DRS is da way.
Most people don't know that brokers just send your order to their market maker, which when they have many customers most of the time you are "trading their own books" & then the major market makers "settle" between each other , similar to how checks & direct deposit go through federal bank clearing where the banks settle between each other
Treasury yields and other safe cash-like investments are raising high returns, yet most investors believe this is a good time to buy stocks despite crash. I'd love to spread across $400k into profit yielding dividend equities and end the year well, but unsure of which to get acquire.
all the best, buying on sale is actually one of the best ways to invest in stocks, and advisors are ideally suited for such task
@@valentinaarrelaro Agreed, I've always delegated my excesses to a professional, ever since suffering major portfolio steep-down amid rona-outbreak in late 2019. As of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments, and only work 7.5 hours a week
@Johnny-se8hk > My investment advisor is Julie Anne Hippe, she's verifiable and I'm very sure you can find info about her on the internet, her qualifications speak for itself.
So if i have this right, you set up a botnet to appear like one person was asking a question about stocks and that another was answering in order to do what? There's no links anywhere
Edit: nvm, i saw that the last comment has the name of a scammer in it
I was going to use Julie Anne Hippe as well, but a close friend told me that Julie lost all her retirement savings!! Last I heard, there was a warrant for her arrest in the Cayman Islands. Glad I dodged that bullet - whatever you do, absolutely don’t use Julie Anne Hippe.
I know this video is exaggerating for dramatic effect, but not *every* stock is held by Cede & Co. Anyone who owns stock can request to have the physical copy of their stock. I remember during the whole GameStop fiasco that some people got their paper copies and framed them basically as a souvenir.
This is the "Direct Registration System" (DRS). The GME fiasco is still going on; So far, retail investors own ~58% of the free float, or about 30% of the entire company, in their own names. It's the highest percentage DRS of any company in history.
"physical copy of their stock" you mean, a promise note, you don't own anything other than a promise, if you're cool with that ? Good for you.
@@initialb123 With DRS you get the exact same promise of rights, without the physical note, how on Earth is that a stronger connection.
@@greglinder5784lol nothing happened. Losers
okay but i would proudly wear a shirt that said “weird and confusing legal and logistical technicalities”
In Australia the ASX has a system called CHESS which means with most brokers you do actually own the stocks
And Australia is soon going to move on from the CHESS system to an even more modern system underpinned by a blockchain.
@@IAmSkip94 they ended up scrapping the blockchain system a few days ago
@@matthewvincent2259 and thank fuck for that. Blockchain is terrible for high volume fast transactions.
Tech-cultists need to slapped down.
@@matthewvincent2259 Oh that's unfortunate, it would have been interesting if they could have deployed it!
I used to work in the DTC recon department at a custodial bank. That was honestly the easiest job I ever had.
I would say that’s true of all the people I know in finance.
the DTC was actually flooded during Hurricane Sandy in 2012, damaging one vault's worth of stock certificates
Came here expecting countless comments about DRS and GME, was not disappointed.
So many sheep going the wrong way, at least I know what broker has my shares, unlike the DRS sheep - clueless and misled, is so sad.
This subject came up in conversation a few months back between a friend and I. I tried to inform them that they didn't technically own stocks but I portrayed my points poorly.
Glad I now I have a video to share when I inevitably force it back into conversation.
Have a look at Euroclear and Clearstream. Transfers between the two settlement systems was called " the bridge" as the securities were actually driven over a bridge between Belguim and Luxembourg.
And the biggest robbery was in the UK ( £ 600 million Pounds) was the stealing of Gilts from a courier to the CGO.
The Central Gilts Office until the mid 1980's consisted of wooden cupboards where one company would post cheques and bonds into the front and thereceiving would collect the paper cheques certificates from the back.
Wait this opens an incredible amount of legal technicalities
I prefer beef stock, though sometimes I may buy a couple of celery stalk here or there.
Owners of a certain security are gradually clawing them back from Cede & Co, and holding them in their own name, through this company's transfer agent, ComputerShare. You can still own things yourself, if you own them via the DRS system. Thanks for the video, and keep DRSing your GME if you haven't already!
We ACTUALLY own our stock 💎🙌 🦍
@@ZacharySugano Sounds good, you've got a promise note, written by computer share, backed by the owners Ceed&Co ... Let me ask you this, do you even know what broker has your shares ? Might it be Shitadel? How would you even know, it's all a secret... At lest I know what brokers have my shares, computershare won't tell you, sounds like some shady shit to me.
@@initialb123 I have direct ownership of my shares. I actually don't have any form of promissory note or beneficial ownership. ComputerShare is a stock transfer agent and not a stock broker. A stock broker helps you execute transactions when purchasing or selling stocks and as this video explains, brokers collaborate with Cede & Co to manage beneficial ownership rights. A stock transfer agent, on the other hand, is responsible for managing changes in ownership of company stock and maintains an official register of ownership. The register that ComputerShare maintains is the true legal list of shareholders. ComputerShare is not backed by the DTCC or Cede & Co in any way. While Cede & Co is the legal owner of most shares in the stock market, their ownership is determined through the register maintained by transfer agents, not the other way around. So Cede & Co only owns shares because the register of transfer agents like ComputerShare declares it to be so.
So this means that no broker has my shares, definitely not Citadel. ComputerShare can't tell you what brokers have your shares because transferring shares to them removes your shares from the beneficial ownership system setup by brokers and the DTCC and results in your name being directly listed in the register. I think it is far shadier to have another corporation owning shares on your behalf. You don't know what brokers and the DTCC are doing with your shares. They could be using a fractional reserve system, lending shares out without asking, and thus reducing the value of your assets while pocketing the difference.
I feel much safer knowing that I have true legal ownership rather than letting another party own my shares.
goddamn bots
You can request share certificates for a fee if you insist on owning shares outright.
Generally that is just done as a novelty for children though.
@@ianshuley8348 What broker bought up those shares that you transferred to the transfer agent? Do you even know ? Will computershare even tel you? That's a nope. You're in the dark without a clue, avoid getting all your information from a Reddit sub who's purpose is to purple circle jerk. It's not the way.
@dishwashingunit they also become off-limits for your advantage of being able to pull out when it starts to tank. youre just bag holding for the others who can do so
@dishwashingunit as if you can predict when the panic selling is gonna happen. unfortunately its already priced in before you can even think about it
@dishwashingunit which is why they want you to register in your own name, so you cant, and you end up being the bag holder
@dishwashingunit "tards"
You can request direct ownership of a stock via the Direct Registration System (DRS). Tell your broker to move the certificate(s) from Cede & Co name to your name. The shares will be moved from the broker to the stock's transfer agent, but you will have outright ownership.
this video popping up in my feed at a perfect time. Thanks!
"Ownership is overrated anyways." 3 seconds later..."Join Nebula, I own it with other creators."
Thatsthejoke.jpg
@@ehaslage It wasn't a joke because he said, "Just ask Elon." as if Elon Musk buying Twitter is real life evidence that ownership is overrated.
Hypocrisy is never overrated
@@tevinvezina1766
Who would want to own twitter? Especially after that guy made it even worse than it already was.
Although with the way things are going, there won't be anything left to own soon.
@@alexwalker5716 well if I could choose who owns twitter I’m going to choose myself lol. But otherwise I don’t really care as long as they don’t violate first amendment and free speech anymore (which happened under Jack Dorsey).
The stock itself is not actually ownership either. The stock itself is ALSO just "buying contractual rights and becoming the companies' fractional beneficial owner. That title gives the right to receive a fractional share of the dividends the company pays, to vote as a shareholder, and to sell the rights should you choose and receive the value of that sale-basically, everything an owner would normally be able to do, you can do, but technically you don’t own it. But hey, ownership"
The catch is the contractual rights are an asset, and have value. So ultimately, you are trading contractual rights with values. Which is what really matters.
so, if you "own a stock", you actually own a certificate to a certificate (broker) to a certificate (the stock itself) to contractual rights.
This is worse than NFT's.
@@esajpsasipes2822 It is certainly more convoluted. But it still is more useful.
How is that not just ownership with extra words?
@@spacetoast7783 It's a bit of smoke and mirrors. You can "own" a promise note, but not own or have any rights to the thing promised. In this case, I can sell you a promise note that has some abilities such as voting rights as if you owned the shares, however your entitlement is limited to what ever the clearing house says it is. Believe they will fuck with the small guys like us, or make new laws to move the goal posts.
If I ask you to bring me a pound of ownership, you won't be able to, because ownership is a concept instead of a real thing. Those contracts that you're talking about are the closest that ownership gets to actually existing.
Also, there is a fundamental rule to remember: if it looks like a duck, swims like a duck, flies like a duck, and quacks like a duck, _then it's a duck._
As always, fun and educational!
BTY legionnaires disease was actually from the 70’s
I doubt this is how it works in other stock markets outside the US, and also stock ownership is possible directly if people requests it. Another possibility is buying shares from the company outright without a broker, bypassing the stock market entirely
My day is instantly better when ever hai uploads
Yes
In Pakistan, there are Private Brokers and State-Owned CDC (Central Depository Company). One way of ownership Structure of stocks is same as the US (i.e., CDC > Broker > You) but there is also another option of direct ownership with CDC (i.e., CDC > You / CDC will register Stocks in your name).
Love the information for everyday stock holders. If you are holding for any length of time please look into Direct Register of your Stock, DRS. If you don't own the wallet, it's not your crypto, if it's not in your name, it's not your stock. Buying and selling is (almost) just as easy through the agent.
It absolutely is your stock if you own it in street name. No reason to waste time with direct registration
@@niklassheth6995 This isn't true. If your shares remain in Cede & Company, you implicitly wave certain rights to share ownership. Shares held in "street name" can be used to fulfill delivery obligations (sometimes called "locates") by brokers even if you didn't sell anything short, or agree for your shares to be lent. It's a major loophole in the markets, a topic discussed in great depth in Naked, Short, and Greedy by Dr. Susanne Trimbath, who actually was one of the key players in setting up the DRS systems back in the 90s.
@@greglinder5784 All public traded companies shares are owned by Ceed&Co , no mater who's name is on the statement, it's nothing more than a promise note saying you're due a certain amount of shares should a dividend be issued , or voting rights or should you want to sell/transfer those shares. Avoid the koolaid on one particular purple circle jerk subreddit , these sheep are being led down a path that won't help people like you and I.
@@greglinder5784 thanks for having my back Greg. And to Niklas, I believe I will find the time and in certain circumstances that time is worth more then gold.
Good Video, Love everything you upload! keep it up
I used to work at 55 Water and I cannot confirm or deny the accuracy of this video
I'd love to see a video on how DTC would be run if Sam Bankman-Fried was the CEO. "Due to sloppy bookkeeping your 100,000 shares in AMZN were leveraged to bet on eSports and buy amphetamines" 🤣🤣🤣🥺🥺🥺
amphetamine is OK, but cocaine has the better hit for getting through a day at the office after an all night bender.
Soooooo like it is now?
So it's basically the polar opposite of an NFT from what I understand
Yes, this is a theoretical plausible use of NFTs when people stop believing ape pictures are worth 50 Ethereum.
Stocks were NFTs before NFTs
This only applies to public stocks. Plenty of people own private stocks
2:18 I haven't heard the use of the phrase "more better" since the movie, Idiocracy. Nice!
Holy shit! Screw "Half as interesting", this is actually mindblowing!
Didn't you already make an earlier video on the paperwork crisis? I feel like I have seen that part before, but without the stock context? Maybe it was Tom Scott instead, but I definitely knew this already.
You can actually go to your broker and direct register your shares in your own name and prevent brokers or anyone from lending out or stealing your shares.
Please how does this actually work please elaborate on it
They would make a fantastic target of a heist movie
Boy do I have a movie for you
@@EpicWolverine oh really?
"Here's a fun fact, you don't own any stocks."
Hell yeah I do, I have directly registered my stocks in my name. So I actually own them!
Most people don't.
Ah, deadpan humor in informational videos, my favorite!
Nah it's unnecessary sarcasm.
So I looked something up but couldn’t find the answer.
1: is cede and company public
2: if you buy stock for them then that means they own the stock of themselves which is horrible for the stock market. Meaning if cede and company is public is it possible we all crash the market
1. no (it's a private partnership)
2. n/a
I've got some share certificates. I think you are talking about share's held in street name. It is a good idea because lost shares can be reissued. The Fed ought to treat money that way, so money that is lost in a failed bank or other institution (i.e. actually in digital form on the Fed's ledger) can be replaced, without involving the FDIC or FSLIC etc.
2:53 bullet point #1 'a certificates' should be 'a certificate' or 'certificates'
In India we have CDSL and NSDL for this.
Depository is like a bank keeping your cash.
Its just a bunch of numbers on a system in the end.
In the Nebula ad there is a video called "Great Cities: Canberra" we're stretching the definition of great methinks.
Boy I sure miss the McDonalds Pizza. I hope you cover that soon
someones been diving down the GME DRS rabbithole
Does the UK have one of these?
this video turned into a sort of explainer of what a blockchain does-you own a line item in a (global and immutable) database proving that you are the beneficial "owner" of a thing that is typically housed elsewhere.
Nice channel
Honey, wake up. A new “Weird and Confusing Legal and Logistical Technicalities” video just dropped
Thanks for another amazing video, Weird and Confusing Legal Technicalities
How do you buy stock in Cede and Company, if they own their own stock?
Who acts as the traditional broker in robinhood / similar stock purchasing apps?
Very fun and informative, btw between 4:01 and 4:03, the brightscale went up 1.5x
This is correct. I'm a trader myself and most of this is legit. Your holdings are "held in street name" is the trade name.
Held by.... Ceed&co, on behalf of the issuers , you can put your name on a promise note all you want, but the shares can be moved/drawn down or otherwise traded without your input multiple times a day at a whim by the ones who control the clearing, that's not you, nor is it the issuer, it's the same Ceed&Co from the very start. Good luck with your investments, please don't drink the kool aid from one particular sub on reddit...
@@initialb123 no sir, I don't do redit at all but I know what you are talking about
I am as well and have my MBA and a friend finally convinced me to start getting my series 6 and 7. It really is somewhat true but blown out of proportion. you can get your stock certificate whenever you want. just request a 'transfer and ship'.
take a look at "Takasbank" of turkey. that is the same thing. and we have a "central registry authority" to hold the registry of those stocks. if I can say objectively, the stock exchange system of the turkey(borsa istanbul) is the best in the area. I'm not saying that because I'm turkish, I'm saying that because I'm a software engineer and an invester in turkey.
I hope you will make a video about it
Lol thats what we called as nominee account. Its easy to changed it to direct ownership. In my country,we can choose to open direct stock ownership or open nominee account with not so much differences between the two when we do buy and sell except for the brokerages fees.
you can instruct your broker to "transfer and ship" at any time. If you want to hold your stock certificate you are free to do so.
Can I get in the annual mistakes video if I point out the "a certificates" at 2:51?
Have you heard about GME and people DRS'ing their shares? Taking them out of DTCC and actually owning them in their own name? So.. You're wrong. Some people own stocks in their name :)
🎉
How is breaking into this company not a heist movie
Maybe they don't want to inspire real attempts.
2:02 HA!! Yeah, right?
There's also one building in Delaware owned by a Dutch firm which allows firms to be registered in that state to avoid paying over $10 billion in taxes per year. Almost every president or candidate, including Hillary Clinton and Trump have companies registered with them
Since I've seen Sam's face and heard his voice not in voice-off, I can't believe it's the same person. On Wendover and HAI, I thought he was a 30 years old man, chic, serious with his calm and relatively deep voice, dressed nicely and with taken care of short hair.
But no, he's a long haired blonde teenager with a voice unrecognizable in video ! Watching Jet Lag the game on Nebula, at first I thought he had just created the game and wasn't in it (I didn't know his first name, which didn't help) ! It was so until there was his voice-off that I recognized of course, saying "I did that, we did that, etc..." I couldn't believe it. I've never been more shocked about a CZcamsr's appearance. I know it's stupid and we don't care, but I was more confused than I could describe. I really though he was older than that. He looks 16-ish, but I guess he's older than that, I have no idea how much though.
This makes sense for publicly traded companies but I'm guessing that for private companies there is still direct ownership?
Yes. And it isn't even the case for all shares in public companies. You can ask your broker to have your shares be directly registered under your own name with the transfer agent (though there can be fees for that, and it can be harder to sell in that form).
To quote Lionel Hutz, Simpson's Lawyer. "This is 'technically' correct, which is the best kind of correct."
DRS YOUR SHARES
What about stock exchanges outside of New York City?
I totally own my stock. DRS, directly registered stock. You can pull your stock away from Cede & Co by transferring it to a "transfer agent" like ComputerShare who handles over 50% of the market. Once your stock is taken out of the broker and registered, it can't be use against you for shorting. The DTC's ledger is a black box and doesn't always match 1:1 with the number of stocks that should exist. There's plenty of research, filings, court documents as evidence to such.
Do you even know what broker bought up those shares to give you a promise note ? Ask computershare, they won't tell you and to think you "own" anything other than a promise note is just farcical. I wish you good fortune APE, but i fear you have been duped by the purple circle jerk on one particular Reddit sub
@@initialb123 APE? is that a ticker? I'm just offering a counter point about owning shares of a stock that applies to all companies and brokers. Don't know what circle jerk you're on about
Oh, a meme stock cult member. Of course trying to recruit new bagholders haha
You can buy your stocks and own them directly in your name with a transfer agent such as computershare.
DRS stands for Direct Registered Share. Many own stocks this way now that GME has popularized it. Now I'm going to go buy more stocks
i DRS amc and gme
Hi fellow SSers!
@@acem3129 this guy stonks
maybe the geniuses at gme wanted you to register/transfer so you cant easily and quickly pull out when the shit show is coming down and those people who dont own it get to profit off your bag holding. its same thing anyway but you just put your stocks somewhere where u cant quickly pull out at rug pull moments, which is what they want
55 water street also has a very nice free park to have lunch in
Are you saying that Stocks are like NFTs?
When the company watches this video:
So what stops people at Cede & Co. from just transferring some random person's stocks to someone else?
I'm in Australia so actually I automatically legally own my stock via the Australian Stock Exchange's CHESS system.
I think you should add the name cede and company to the title so that it comes up when people try to google the conspiracy theories
That's what the description is for.
Unfortunately it is not actually used in this video.
What conspiracy theories
There are still physical stocks as well ad stocks of private companies..
In the banking industry, CEDE is pronounced "SEE-DEE".
good to know !
And its competitor DEE-VEE-DEE
2:03
Sadly it’s true
1:18 I thought for a second the H was changed to W. Would have been awesome if it was
Why’d the newest video get taken down?
Unlisted I’d assume due to the low quality sound
What I'm curious now is if the building was on fire, would that technically wipe out available stock on the market?
HAI: "If you think you own stocks, you dont"
Me: *Laughs in DRS*
Considering how many comments are shilling for it here it has scam vibes all over.
The amount of times he said “stock” in this video is ironic considering the amount of stock footage he uses😂
This is what they meant when they said: “you need to succ ceed”
All my shares DRS and I'm preheating the oven in preparation for my tendies 🕵️♂️
This whole video could be exposition for the next Die Hard Movie
Came here for Stonks - was not disappointed 3.26
Wow thats one hell of a lynch pin. If they had a cockup and had to revert their database, trillions of stocks could be stuck in limbo with people disagreeing on who owns them!