Replies to post #13739 on CSMG Technologies, Inc (fka CTGI)

[rossi]

I hope you didnt buy from a naked shorter.I am not against shorters.I think they have their uses.But selling something you dont have.....seems like fraud to me.
The other possibility is that your broker has lent your shares to a shorter.

[sojourner]

starboy: It might be a good idea to call the transfer agent for the company and demand the certificates. If they won't co-operate, call the Division of Securities in your state. The squeaky wheel gets the grease.

Unfortunately, stock certificates are going the way of the great dinosaurs. Only 1/10 of 1% of new stock buyers demand certs, but the cost of providing same is estimated at $250 million. Most brokers loathe the paperwork and costs involved. Some will stonewall or delay the customer until he gives up.

This is treacherous state of affairs, as a day conceivably could come when some important brokers face insolvency (à la E*Trade), increasing risk that their customers could sit out in the cold for a time.