Word: schwab
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...recently sat in on a troubled saver's discussions with Schwab investment specialist Terence McNamara in New York City. The client, whom I'll call Mr. Value, has had nearly all his assets in conservative stock funds for three years. In a recent 12-month run, he actually lost money. Tough stuff in a roaring bull market...
Comparing The Brokerages Brokerage Number of Trades Fee Per Trade Ameritrade no minimum $8 Charles Schwab 61+ per quarter $14.95 E*Trade 30-74 per quarter $9.95 Fidelity 241+ per year $14 Brown & Co. no minimum $5 Datek no minimum...
...time churning your portfolio was a bad thing, and costly. Now day trading is the thing. Intense competition has prompted Fidelity Investments to lower to $14 a pop its rate for market players who make more than 240 trades in a rolling 12-month period. Fidelity joins Charles Schwab in lowering prices to compete with discounters such as Brown & Co. and Datek. These discounters offer a fixed price without a minimum number of trades. Either way you swing it, don't confuse frequent trading with investing...
...Lloyd's has indeed been rocked by ruinous asbestos claims, and managed to survive only with the help of a pliant Parliament. But a stone-broke Evans has lost her home. Thousands of Names have been wiped out financially. Some committed suicide. Even such notables as brokerage founders Charles Schwab and Dan Lufkin have been exposed to the loss of millions in what has been called the biggest and baldest swindle in history, perpetrated behind the clubby doors of the world's most respected insurance organization...
...then, members bid for underwriting business, although today they do so from a four-story-high, block-square trading room in London. These underwriters form syndicates that are in turn backed by Names--investors who range from British notable Camilla Parker Bowles to U.S. business tycoons like Lufkin and Schwab, columnist Robert Novak, Supreme Court Justice Stephen Breyer and smaller fry like Evans. Names are required to risk their entire personal wealth when they back Lloyd's policies in exchange for the right to a slice of underwriting profits. Atop the whole shebang sits the Council of Lloyd...