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03-13-2010, 07:49 AM   #1
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Anyone here knows about stock exchange?l

Anyone here knows about stock exchange?l
About last 10 yrs ago i bought some company stocks in my country equivalent only to about a $100 total.. Well i forgot about that investment until this month when i was waiting in a bank I got the chance to grab a newspaper. So i check the prices and was stunned when i found out it was all worth about $7,000

My question is can i still sell the stocks since the broker havent heard from me for more than 10yrs? I still have the recepit on me.

03-13-2010, 07:54 AM   #2
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do you have a receipt, or the actual stock certificates? most brokerage firms charge inactivity fees and also have forfiture clauses in their agreements. chances are, if you haven't made contact in 10yrs and don't actually have the certificates themselves, someone else profited from your inactivity.

Is the broker still in business? couldn't hurt to contact them and find out!
03-13-2010, 08:06 AM   #3
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I still have the Receipt and the Purchase Invoice with me. No Certificate though.
It was on April 2000
Ill call them Monday but dunno if the broker was still there
03-13-2010, 09:44 AM   #4
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another idea for you, would be to make copies of your documents, and send them with a letter to the investor relations dept for the company you own stock in. they might be able to give you more information - they should have records on every share of stock sold

03-13-2010, 09:52 AM   #5
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Thx If there will be a problem on Monday ill try that as my next step.
03-13-2010, 09:57 AM   #6
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I've never delt with the market, however I want to wish you good luck on that. Just think, it's a good down payment on the new 645D
03-13-2010, 10:00 AM   #7
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This should set things straight:

- You likely don't have the stock certs because they are held in trust these days. It's way safer than physically holding the paper. Don't worry about it, it's still registered in your name.

- IR departments do not know who all of their shareholders are unless the shareholder contacts the company. In a case like this they can't do much for you except direct you to the trust company holding your shares.

- It doesn't matter if the broker is still in business or not. The stock is yours. The worse you'll have to do is some paperwork. For $7,000 you should happily fill out as many forms as they ask.

- Brokers can charge inactivity fees, that's true. But you can't forfeit your stock. At least not on a legitimate exchange. And if it were true, I'd be floored if the regulators allowed it.
03-13-2010, 10:35 AM   #8
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QuoteOriginally posted by little laker Quote
I've never delt with the market, however I want to wish you good luck on that. Just think, it's a good down payment on the new 645D
Thanks! lol!
I was having some lust with the D700 though but i can resist it,
maybe some flash & lenses

QuoteOriginally posted by tranq78 Quote
This should set things straight:

- You likely don't have the stock certs because they are held in trust these days. It's way safer than physically holding the paper. Don't worry about it, it's still registered in your name.

- IR departments do not know who all of their shareholders are unless the shareholder contacts the company. In a case like this they can't do much for you except direct you to the trust company holding your shares.

- It doesn't matter if the broker is still in business or not. The stock is yours. The worse you'll have to do is some paperwork. For $7,000 you should happily fill out as many forms as they ask.

- Brokers can charge inactivity fees, that's true. But you can't forfeit your stock. At least not on a legitimate exchange. And if it were true, I'd be floored if the regulators allowed it.
Thanks Im glad to hear that. A bit relieving but im not keeping high hopes so i wont be disappointed but if it work out fine Ill be very happy

03-13-2010, 10:59 AM   #9
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There seems to be some solid advice here.

I thought that photogs that knew about the stock exchange were more likely to own Leica!
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