jimocarroll

E*Trade: A Bet Worth Making

This is somewhat of a non-sequitur, but I am currently an eTrade account holder / customer. I did not choose eTrade.

I chose a different company whose name I don't even recall, which was acquired by another company whose name don't recall. I don't even recall how many different companies have held my accounts over the years. I do know that CFSB was one of those companies.

The thing that angered me was that the records weren't carried over between companies during murders and acquisition. The funds and securities made the switch, but the transaction histories and trade confirmations did not. When in later years I sold a stock, it became my responsibility to try to find out my cost basis.

It looks like I'll be going through that exercise again as my accounts are switched, willy-nilly, into another brokerage. The next one will probably use tax money to acquire eTrade -- and this adds insult to injury.

I wish there were a way to assess the potential stability of a brokerage house. Of course, if there were, we probably would all use discount brokers.

As Yogi Berra once said, however, predictions are difficult, especially about the future.