Goofy, I don't have the link at hand (I think I posted an excerpt over on the Berky board), but Schwab says that stocks are held in the client's name at the broker-dealer. So I don't worry about them. Money-market accounts can potentially "break the buck," as we saw back in the financial meltdown; but I haven't made any move to mitigate the (very low?) possibility of it occurring or having more than a momentary impact before the Fed and/or the Treasury stepped in to restore order.

I have, however, moved (more) cash from "sweep" accounts (paying, like, 0.4% interest) into money-market and treasury-backed overnight accounts (paying more than 10x that, currently). I'd kept cash in the sweep accounts in order to purchase equities if immediate bargains appeared. But I decided that I can surely live with a 24-hour turnaround, esp. since the overnight accounts are marginable, and so I'd be paying only one-day's interest should I care to use margin (which I doubt very much).

Berkshire Hathaway FAQ

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