Yes, you are completely right, this is an investment account with the money management and instant cash access features of a checking account. It is not FDIC in

Yes, you are completely right, this is an investment account with the money management and instant cash access features of a checking account. It is not FDIC insured and you can lose money. We are buying and selling the stock in such a manner that you get instant access to cash (e.g. at the ATM), which would be impossible or very tedious if you did this manually :-)