| Author | Message | ||
     Arial Intermediate Member Username: Arial Post Number: 136 Registered: 10-2006  |
I am trying to get my friends to sign on to the forum. A couple of them always want me to find out things for them. Does anyone know if gold stocks are traded on the Bolsa--stuff like Gold Corp, Agnico Eagle, Barrick Gold. He wants to know if you have certificates, can you open an account there and deposit them. Okay, now he is elaborating--is there an equivalent of over-the-counter pink sheets like in the US so that foreign (Canadian traded) stocks can be deposited into your Argentina account if you are holding the stock certificates. Well, I know you guys are fantastic. But if anyone knows the answer to this even I will be impressed! | ||
| WTMendoza.com Intermediate Member Username: Welcometomendoza Post Number: 133 Registered: 7-2007  |
Hi Arial, I too find the Bolsa intruiging, but as ApartmentsBA pointed out, liuidity and volume is relatively low and perhaps there is more risk there also. About 9 years ago I went to the building, which is very close to the original building which looks out over the Rio De La Plata where 80 years ago they would see boats on the horizon and then the traders would start buying and sellinbg commodities and stocks baed on the ship arrivals! 9 years ago it was all good for a forigner to open up an account (need that infamous CDI number), but I would be somewhat wary nd really do your DD on it. Here are the components that make up the Merval: http://finance.yahoo.com/q/cp?s=%5EMERV good luck! | ||
| Roberto Board Administrator Username: Admin Post Number: 1499 Registered: 12-2004 |
If noone else has an answer your friend can always contact the 'bolsa de comercio' here http://www.bcba.sba.com.ar/contacto.asp | ||
| Arial Intermediate Member Username: Arial Post Number: 139 Registered: 10-2006 |
Thanks Roberto, my guess is that he needs to be pretty fluent in the language but I will pass it on. Mendoza, very interesting history. Thanks for your input. I think the risk of the brokers is the reason for holding the certificates themselves. For example, if your stocks are held by a US brokerage, there are shenanigans going on about loaning stocks for shorting which is presenting a risk to stock holders because those shares are NOT in their accounts. But if you hold your certificate yourself, then those shares are in your power and not someone else's. I notice suggestions for this defensive idea popping up here and there in financial circles lately. I notice someone on this forum saying certain things are not so likely in the US as elsewhere. I am not sure why we think that. It seems to me that if principles are accurate they will work the same everywhere. If the US follows the same practices as elsewhere, why would we not get the same results? Or are we a charmed nation that nothing bad can ever happen to no matter what we do? (Rhetorical question  | ||
| WTMendoza.com Intermediate Member Username: Welcometomendoza Post Number: 138 Registered: 7-2007 |
Arial I still wonder if that is an urban ledgend that your shares can't be shorted if you ask for your certificates. Then there is the whole REG SHO issue, naked shorting, etc...what a complicated topic... | ||
| Arial Intermediate Member Username: Arial Post Number: 140 Registered: 10-2006 |
If you hold the certificates you definitely own the stock. There is no doubt about that. I don't know if they can still be shorted illegally but you will not be the one to lose. I used to take possession of certificates as a new investor for no reason except that Schwab always asked and I said yes. But when I went to sell stock that I held certificates for, I found out if you didn't have the certificate it is a real hassle. You really can't sell it without the certificate. If you lose it, there is a big process and the cost is terrific. So I stopped taking possession. Just let the broker take care of it. I have heard that it is only a problem on thinly traded stocks. But I don't know. Are you a real estate broker in Mendoza? You sound very knowledgeable. It is possible I could end up over that way this trip. Not sure. | ||
| WTMendoza.com Intermediate Member Username: Welcometomendoza Post Number: 140 Registered: 7-2007 |
Hi Arial, no I am not a real estate broker, but rather in addition to more common services we provide like Mendoza Mapping products, Translation services ,Property scouting, Price Negotiation, Property Inspections, Title Checks, Purchase assistance, and Zona Frontera assistance, we also provide: Lifestyle, Relocation and Retirement logistical and practical services , including residential visa proper process, Real Estate tours, Acquisition of CDI number and follow through for change of address at the appropiate time, Utilities and maintenance liaison for foreign property owners, Area / property historical asking price / white price, etc , Well and water rights studies, and Property living opinion reports. Please send me a PM if you would like to explore any of these products or services and I look forward to meeting you– thanks and cheers, Sean | ||
| Roberto Board Administrator Username: Admin Post Number: 1506 Registered: 12-2004 |
Sean, is your contact information the one at your website? | ||
| WTMendoza.com Intermediate Member Username: Welcometomendoza Post Number: 141 Registered: 7-2007 |
Hi Roberto, yes it is, and here it is also: sean@wtmendoza.com From inside Argentina: Landline: 0261-524-4999 Cell: 0261-15-553-5735 From outside Argentina: Landline: +54-261-524-4999 Cell: +54-9-261-553-5735 cheers | ||
| Roberto Board Administrator Username: Admin Post Number: 1509 Registered: 12-2004 |
Thanks! |
