Adventures with Etrade

[william the wie]

5% of my portfolio vanished over the weekend. It turned out Etrade didn't think it was necessary to tell me that months prior to my buying STB a takeover deal had been struck and I was going to get my money tommrow. I am irritated at this crap.

 

[Toddsterpatriot]

Sounds awful!! What did you pay for it?

 

[Moonglow]

Etrade is another word for do your research and keep yer eyes open trading style...

 

[william the wie]

$7.45, the cash is $7.50/sh. My problem is that there are only 12 issues likely to make the dividend lists within the year and therefore increase in price markedly. I was hoping to use STB to help throw off cash as part of the buying of other dividend growth issues but on to plan B.

 

[MarathonMike]

Oh so you didn't lose 5% of your portfolio, the shares you had in STB were converted to cash right?

 

[william the wie]

Oh so you didn't lose 5% of your portfolio, the shares you had in STB were converted to cash right?

purportedly but I haven't seen it yet. Even though the number of dividends I expect to get this month combined with option premiums should permit (3.5%) massive reinvestment compared to the size of my portfolio I am still unhappy. I have seven issues with yields north of 12% but it is the optionable monthly dividend stocks at 6-8% yield that everyone still working to supplement social security wants and generally over pay for, if they can scrape the money together.

The 8+% quarterly dividend issues that can add 4 cents to the annual dividend yield two years running that fit the lower end of the dividend payer lists in Jan-March for the two major payer lists that the ETFs really bid up. And the ETFs do have the money to pay.

The default position is cash cow take over as with STB but that money needs to get to me quickly to maintain reinvestment velocity, bothersome.