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ID: y5FwEUdD/biz/60680909#60681355
7/23/2025, 11:29:46 PM
>>60681336
When I buy local stocks, the bank deposits them to the central bank under my name.
But when I buy foreign stocks, including ETFs, those are under the omnibus account of my brokerage. Then the brokerage knows who owns what.
It's probably even worse with new age brokers like Revolut or Robinhood. You may not own anything at all.
The short answer is, you have to trust the system to work because if this trust fails, the whole thing comes crumbling down and nothing you do matters. It's the end of the world.
The longer answer is: google the "radical portfolio theory"
When I buy local stocks, the bank deposits them to the central bank under my name.
But when I buy foreign stocks, including ETFs, those are under the omnibus account of my brokerage. Then the brokerage knows who owns what.
It's probably even worse with new age brokers like Revolut or Robinhood. You may not own anything at all.
The short answer is, you have to trust the system to work because if this trust fails, the whole thing comes crumbling down and nothing you do matters. It's the end of the world.
The longer answer is: google the "radical portfolio theory"
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