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Message: Fidelity Share Lending Program

By way of inroduction let me say I've been in POET since 2014 and have a goodly number of shares, though certainly not as many as some here. With all the discussion of shorters and manipulation that goes on here (some of which I agree with and some is just conspiracy theory whining) I thought y'all might find this interesting:

Last night I logged in to Fidelity to see how things are going with my mix of 401K, rollover IRA and brokerage accounts I hold there, more than of one of which has POET shares in it. When I went to look at the list of holdings I noticed a new note I'd never seen before: "Did you know you could earn more income from lending securities you already own?" I was curious to see what it had to say so I clicked through some prompts ensuring that I was eligible for the program (assessment of my investing knowledge, income level, asset levels, etc), and since I met its criteria it took me to the next step: telling me which of my securities are eligible for lending.

It showed me one security: POET. It explained that this security is in high demand for lending out (primarily to short sellers), that I would earn 9% interest, and I could earn up to $189/mo.

So my thought process went something like this: Fidelity, you're telling me that of all the stocks I own this one is in such high demand by shorters that you're offering me 9% interest to get your hands on it? And you want me to lend my shares to shorters whose activity costs my portfolio value hundreds or thousands of dollars a day, and I could earn a measely $189 a month in recompense?

Since it seemed pretty stupid to actively participate in the process of destroying the value of my portfolio in order to earn interest that wouldn't keep up with even a fraction of the losses I already see every day I declined to click the "enroll" button.

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