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Bill Saxon wrote:
>
> The old saying is that competition is good for business, but it is
> Hell to compete with. These discount brokers are in a competitive
> business.
>
> I was thinking of transferring some money to that little guy Brown.
> $5 a trade sounds great. What happens if they go bankrupt? I know
> there is insurance, so I wouldn't lose my securities or cash, but is
> the account in limbo for months while justice slowly grinds? That
> could be a disaster.
If you will check into the company, you will find that the parent of
Brown&Co. is one of the major banks in New York. Several years ago,
when I was looking for a discount broker, I had the same concerns you
mentioned. I have used Brown and have been pleased with their service.
Just today, I placed a market order to add to my HDI position, and, for
the first time that I can recall, I got the bid price. I cannot recall
the name of their parent, although I get that info in the quarterly
reports. If you go to their website, you will see the parent, I
believe.
Al Taglavore
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