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Garmin Ltd. Message Board

  • vitdoctor_2000 vitdoctor_2000 Jun 20, 2008 9:14 PM Flag

    Schwab wants to pay me 2% to borrow my Garmin shares.

    I just got an overnight package from Schwab asking me if I'd like 2% return to lend my shares of Garmin to them, so they can offer it to those interested in shorting. Has anyone else heard of this? I did put in a high priced sell order to tie up the shares last week and I guess that's what triggered this offer.
    Fidelity won't let me tie up my Garmin shares there with a really high sell order. I think I could only have an ask price of 30% or so higher than the current ask for a standing order.
    Should I take the 2% extra "dividend" and let someone else short these shares? I guess they have to cover them sometime. It's a bit scary to know that people want to short Garmin so bad that the brokers have to go to this extreme. Or has there been a crackdown on naked shorting?

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    • I received the same Schwab offer but also follow up call from Schwab urging me to go along with it. Can I ask what you decided to do? I think the 2% is low and I don't want to make the life of the shorts any easier ( I know that 3,000 shares is small)

    • Your enemy asked you to lend him your gun and he will offer you 2 bullets per year. You still own the gun! And you earn 2 free bullets! A wonder offer!

      Then he will shoot you to death with your gun and get all your bullets and gun. Maybe he would leave 2 bullets on your body if he is mercy enough.

      Sounds familar? It's in Holleywood movies.

    • You are so full of shit. I arrest my case.

    • All the one's you're long on.

    • I am very sorry you have a lock on your stock investments and can't sell them no matter the circumstances. Very sorry.

    • grmnyak: And another thing, from the tens of thousands of companies trading their stocks today, some companies will make history that today's price could be their companies' historical high, that happens every day just like people born every day and people die every day. So genius, tell me, which are those companies so I can short them.

    • Is this the reason why you cried "the sky is falling" on GRMN???? Why didn't you cry it when it was $120?????

      As I said before, I have my long term investments in my long term hold accounts and my trading holdings in both long and short in my short term trading accounts. If I am a genius like you and I have your wisdom, then I would be richer than Bill Gates, hell, why stop there? I will be the richest person on this planet earth and I even own the world. Since I am not a genius like you and I don't have your wisdom, I couldn't buy in at the company's historical low and I couldn't sell at the company's historical high. Oh my god, you have make me realize now that I have over $500 million dollars losses on my all long term holdings since the 1980s because I didn't sell them at all those companies' historical high whenever that may have been in the past and this market keeps going lower and lower. So genius, do us all a favor, post here all the stocks that you know for sure is going to fall 50% and give me stocks that you know for sure is going to go up 50% like the way you cried the sky is falling on GRMN today, so we can all make tons of money like you.

    • "I bought 5,000 shares in 2002 at $20.50"

      10K @ $120 = $1.2 million

      Oh-my! I had no idea it was this bad. I am so very, very sorry.

      Friends, another deeply tragic story. Yet as we all know all, all too common amongst the inexperienced, the greedy. Just tragic.

    • Thank you!!!

    • Folks this is why Garmin is this low...

      Right now there are NO SHARES available, and there are naked shorters. They have to cover and they are going to Garmin holders. People like you.

      The problem is yes it drives the price even lower and it is killing the share price. It is keeping it from going up that is very clear.

      Lets say you give them the shares. Here is the question will the share price go back up? Remember if funds view a stock as broken they will not buy it and hence you get a 2% dividend on a broken share. Then again Garmin could have great earnings and send this stock up.

      Let's say that you do not give them the shares. Somebody else will.

      Personally I am a bastard and I would not give them the shares because right now the shorters are killing the market. They are literally killing the market!

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