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<p>[QUOTE=&quot;GoldFinger1969, post: 26601625, member: 73489&quot;]It&#039;s why you should only deal with reputable Wall Street firms like MS, GS, Fidelity, Schwab, etc.</p><p><br /></p><p>Any smaller firm you need to do DD and make sure that any investment -- especially in a risky asset like commodities -- is segregated and you control/own the item.&nbsp; Alot of these fly-by-night firms comingle accounts, etc.</p><p><br /></p><p><b>That was what I tell everybody who asked me about Madoff: </b> if you are dealing with a small local person, make sure the CLEARING firm is a big firm that guarantees your holdings.&nbsp; Otherwise, if you are dealing with a small local investment guy and he clears through his &quot;college buddy who gives him and you a great break on price&quot; -- you have no guarantee if there is fraud.</p><p><br /></p><p>Deal with a small local who clears through Schwab or Morgan Stanley or another big firm...they send out the statements of position(s)....they&#039;re on the hook if there&#039;s any monkey business.[/QUOTE]</p><p><br /></p>

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