Very wordy piece that in the end says the value of stocks, bonds, cash, and derivatives is what the markets say it is and not a penny more or less. This holds for every commodity under the sun, including cars, houses, bread, grass seed...you name it.
I get a bank statement monthly from Fidelity Inv telling me what I own and the value of those holdings. I don’t have one stock certificate or Bond (not that it matters)just a piece of paper. It’s all about faith in our financial instruments that keeps everything going and once that faith is destroyed it all comes crashing down. The way to prevent loss of confidence is by keeping everything above board.
Couldn't agree more.Above board is always the best.
But, when you have derivatives sometimes of dubious value being used as collateral and guys betting on this or that to go up or down how is it different from big time gambling? Other than the gambling houses want the Fed to back them?
Fidelity is a bank?
If you don't have any stock or bond holdings, exactly what do you have as "investments" with Fidelity?