Word: jaffray
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...school senior is one of millions of Americans who have hitched their computers to the tireless bull market. Once the preserve of a few computer-literate plungers, online trading could account for nearly 30% of the projected 227 million securities transactions at retail houses this year, according to Piper Jaffray, a Minneapolis, Minn., investment firm. "It's been on fire," Bill Burnham, a senior analyst at Piper Jaffray, says of online trading. "Hands down, it's the most successful area of consumer-based electronic commerce...
...their popularity, online firms are unlikely to drive full-service brokers into investment history. "There are always going to be people who don't have either the time or the confidence to manage their portfolios," says Burnham of Piper Jaffray. And with competition growing fiercer, he foresees a shakeout in which the largest e-brokers gobble up smaller ones, leaving investors with fewer online options. But with commissions having fallen to nothing and formerly hard-to-get information readily available, the future of investing is already predictable. E-trading is yet another example of the great leveling power...
...itself up for sale after recording a dizzying slump in profits. Two other big lenders--Aames Financial and Cityscape Financial--are seeking buyers as well. "You've got too much competition chasing too few profitable loans," says Jeffrey Evanson, who follows the industry for the investment firm Piper Jaffray in Minneapolis, Minn...
Even Marcia Stasch got caught. She had sold securities for a living and so, naturally, she read the prospectus and the brochures from the local brokerage of Piper Jaffray that came on heavy-card stock paper. They offered a government bond fund that seemed the perfect place to invest the $50,000 Stasch's 86-year-old widowed mother had made after selling her home in Minneapolis, Minnesota. Not only did Piper tout the triple-A-rated fund as a low-risk investment, but also said it would produce enough income -- $318 a month -- to pay her mother's rent...
...advice of sales personnel who may know little about derivatives . "My broker didn't have the full story," asserts Andrea Lingenfelter, a Seattle Ph.D. candidate in Chinese history whose $200,000 divorce settlement has dwindled to $140,000 after a little more than a year in the Piper Jaffray fund. Her goal had been to park the money for several years until she got her degree from the University of Washington and settled into a house with her three-year-old daughter. "I could have bought a house, paid cash and had money to spare to pay the taxes," said...