RE: [CANSLIM] Schwab Sux

From: "Duke Miller" <dukemill@tampabay.rr.com>
Subject: RE: [CANSLIM] Schwab Sux
Date: Thu, 7 Mar 2002 12:38:58 -0500

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I have used CSFBdirect since it was PCFN.

They continually improve it; research capabilities (screens and sources like
Thompsons, S&P, Zacks, Marketwatch, etc.) are vast; I get confirmations back
in seconds (usually damn close to the current real time price); and their
Windows interface is slick.

If you have 1-million or more in assets with them, you are a "Select" client
with unlimited real time and a rapid response 800-number to "specialists" 24
hours a day that are not minimum wage order takers.  I achieved select
status during the you-know-what boom; and obviously slid back.  Further, I
moved some assets out (about 30%) of the total, but they didn't remove my
select status.  That spells "class act" to me.

For what it's worth, a couple of years ago they sent me a proceeds check for
about $4,000 with a note saying they sent it 8 months prior and I didn't
cash it, so here's another check!  I didn't even know the check was missing!

Finally, I've never found an error on their monthly paper statements, and at
year-end, it's all summarized (realized gains, dividends, etc.) on one handy
statement.  My CPA loves that!

My net take:  The $20 commission is worth every penny.

Duke

> -----Original Message-----
> From: owner-canslim@lists.xmission.com
> [mailto:owner-canslim@lists.xmission.com]On Behalf Of
> dave.bigham@us.abb.com
> Sent: Thursday, March 07, 2002 11:24 AM
> To: canslim@lists.xmission.com
> Subject: Re: [CANSLIM] Schwab Sux
>
>
>
>
> This brings up a slightly off-topic question.  What discount
> on-line brokers are
> "acceptable" or good?  Are there any hidden costs? I have heard
> things like some
> may have higher bid-ask spreads and thereby make up for low
> commissions that
> way.
>
> Any other thoughts are welcome.
>
> Dave Bigham
>
>
> |---------->
> |          |
> |          |
> |---------->
>
> >------------------------------------------------------------------------|
>   |"Tim Fisher" <Tim@orerockon.com>
>          |
>   |03/07/2002 10:50 AM
>          |
>
> >------------------------------------------------------------------------|
>
>
>
> Please respond to canslim@lists.xmission.com
>
> To:   canslim@lists.xmission.com
> cc:    (bcc: Dave Bigham/USINY/ABB)
> Subject:  [CANSLIM] Schwab Sux
>
> Security Level:?         Internal
>
>
>
> I was never that happy with my Schwab 401k account, and now they
> have added
> the straw that broke the camel's back. Seems they now charge a $3.00
> "handling fee" on both ends of their already expensive
> commissions ($29.95;
> the former volume discount is gone). I am pulling it and giving it to
> Etrade today. The worst thing is, it's a new fee as of March 1 and they
> didn't even have the courtesy of notifying me. Just slapped it
> on. If I had
> known I would have opened an Etrade account immediately, which I guess is
> why they didn't tell anyone.
>
>
> Tim Fisher
> Ore-ROCK-On Rockhounding Web Site
> Owner, Fisher Fisheries, Ltd.
> mailto:tim@OreRockOn.com
> WWW http://OreRockOn.com
>
>
>
>
>
>
>
>
>
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