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   Non-TechCSFB Direct(DIR)


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To: Pices who wrote (360)3/24/2000 8:06:00 PM
From: drsvelte
   of 406
 
This is common practice in the industry. The split trading date is generally a few days before the delivery date.

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To: drsvelte who wrote (361)3/24/2000 11:29:00 PM
From: Pices
   of 406
 
Drsvelte - Thanks for the answer.... It just seems rather odd since I have CSCO in another brokerage (Fidelity) and they split the shares.

Pices

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To: Pices who wrote (360)3/25/2000 6:42:00 PM
From: Susan G
   of 406
 
My CSCO at DLJDirect doesn't show the split shares, they always have a delay. Happened on JDSU a few weeks ago also. Usually gives me a heart attack every time I check the balance on my holdings until I remember <g>
It is possible to sell the shares before they show up by calling.

Susan

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To: Susan G who wrote (363)3/25/2000 8:33:00 PM
From: Pices
   of 406
 
Susan - Don't you think that withholding the split for one week because they did not receive a piece of paper is a little much? I wrote a note to them asking about this and this was their answer...

"When a company undergoes a stock split, the stock price is adjusted in your account on the ex-dividend date. However, your account will not be adjusted to reflect the additional shares until after we receive the physical shares from the transfer agent. If you owned stock up until the ex-dividend date, then you are entitled to the additional shares of the stock. If you sold stock, it must have been sold on or after the ex-dividend date in order to receive the split shares.

For your particular issue, CSCO, you will be able to view the adjustment reflecting your additional shares online in your Positions screen and Transaction History on 03/29/2000."

I thought everything was done electronically these days anyway. But to withold the split because they don't have the physical piece of paper seems petty. My Fidelity account shows the split just fine.

Pices

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To: Pices who wrote (364)3/25/2000 9:30:00 PM
From: Susan G
   of 406
 
Guess we can just add this to our list of complaints.
Still getting error messages when hitting "Buy" or "sell" this week...it's starting to cost me $.

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To: Susan G who wrote (365)3/26/2000 4:23:00 PM
From: Renate Niermans
   of 406
 
Susan,
Don't mean to be butting into your conversation. <g>
Yes, you can sell your shares of a stock after the split, even though it's not showing up yet on your account.
Call your broker, and they will place the trade.
I've done at DLJ.
Good luck.
Renate

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To: Renate Niermans who wrote (366)3/26/2000 10:27:00 PM
From: Susan G
   of 406
 
I think butting in is encouraged on SI : )
Yeah I posted that a few posts ago, you just have to call. Not fun if you want to sell it quick though!
Thanks

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To: Susan G who wrote (367)3/26/2000 11:20:00 PM
From: Renate Niermans
   of 406
 
That's for sure. Once, when AOL split, I tried to get out fast and couldn't. Had to call DLJ, and you know how long I had to wait on the phone before I could talk to someone. Didn't make as much money as I could have. But, I guess that's how that cookie crumbles. <g>
Renate

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To: Pices who wrote (364)3/28/2000 1:29:00 AM
From: Z268
   of 406
 
This deficiency from DLJ sucks big time!

In fact, if the electronic data is legally binding (they will tell you the paper copy is the legal document), then DLJ is posting incorrect information. If the split shares are not delivered until the 29th, then the balance should reflect the pre-split shares at the pre-split price. Showing the pre-split shares at the post-split price is incorrect and misleading.

When I called up to query, the Customer Service rep was obviously annoyed, and yelled at me for being one of hundreds of annoying meaningless calls!

When my account is corrected, I am voting with my feet - I am through with DLJ - they have the worst system of any of the online brokers! And their Customer Service reps are probably trained at the famous DLJ Gestapo, er I mean customer abuse, training school!

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To: Z268 who wrote (369)4/4/2000 9:04:00 PM
From: WalleyB
   of 406
 
Glad to hear that butting in is not scorned.

I've been with DLJ for about 5 years (something like that). I don't trade frequently and I have another account at E trade, (boy there's a sorry story).
But, E trade allows a "buy/sell all or none' option when trading. I was sure that DLJ did also but didn't see it the other day. Wouldn't bother me but the other day before that I guided my wife over the phone to buy 4K shares of a stock and she said that option was not on the screen. Given the high volume the stock was trading I figured, no biggy.

Whoa! I got the confirmation in the mail and my trade was filled in five different amounts. Cost me $86 or so. I'm not a happy camper.
Calling them to find out why is an investment in time I am loath to make, I grow old waiting to speak to someone and Email is not much better in terms of substance.

BTW , E trade was listed in the Barrons article two weeks ago. They quoted burn rates for dot coms. Wonder how long they will be around?
Well to be fair they appeared to be at the safe end of the list, maybe 2+ years before the cash runs out (if I remember correctly).

thanks for the indulgence, I just had to whine.

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