The comparison of buying $1 million house or $1 million of Microsoft stock is a bit complicated - because in nearly all of the transactions you don't formally r

The comparison of buying $1 million house or $1 million of Microsoft stock is a bit complicated - because in nearly all of the transactions you don't formally really buy the Microsoft stock. Here is Matt Levine quote: """ Nobody owns stock. What you own is an entitlement to stock held for you by your broker. But your broker doesn't own the stock either. What your broker owns is an entitlement to stock held for it by Cede & Co., which is a nominee of the Depository Trust Company, which is a company that is in the business of owning everyone's stock for them. """ https://www.bloomberg.com/opinion/articles/2015-07-14/banks-forgot-who-was-supposed-to-own-dell-shares https://www.bloomberg.com/opinion/articles/2015-07-14/banks-... Also: https://bitsonblocks.net/2019/02/07/who-legally-owns-all-the-shares-not-you/ https://bitsonblocks.net/2019/02/07/who-legally-owns-all-the... compiles similar information on Singapore and Hongkong (googled - not verified).