Brokerage Quotes

An investment in knowledge pays the best interest.

He reproached his wife with her inattention, her habitual neglect of the children. If it was not a mother’s place to look after children, whose on earth was it? He himself had his hands full with his brokerage business.

1. Bangladesh.... In 1971 ... Kissinger overrode all advice in order to support the Pakistani generals in both their civilian massacre policy in East Bengal and their armed attack on India from West Pakistan.... This led to a moral and political catastrophe the effects of which are still sorely felt. Kissinger’s undisclosed reason for the ‘tilt’ was the supposed but never materialised ‘brokerage’ offered by the dictator Yahya Khan in the course of secret diplomacy between Nixon and China.... Of the new state of Bangladesh, Kissinger remarked coldly that it was ‘a basket case’ before turning his unsolicited expertise elsewhere. 2. Chile.... Kissinger had direct personal knowledge of the CIA’s plan to kidnap and murder General René Schneider, the head of the Chilean Armed Forces ... who refused to countenance military intervention in politics. In his hatred for the Allende Government, Kissinger even outdid Richard Helms ... who warned him that a coup in such a stable democracy would be hard to procure. The murder of Schneider nonetheless went ahead, at Kissinger’s urging and with American financing, just between Allende’s election and his confirmation.... This was one of the relatively few times that Mr Kissinger (his success in getting people to call him ‘Doctor’ is greater than that of most PhDs) involved himself in the assassination of a single named individual rather than the slaughter of anonymous thousands. His jocular remark on this occasion—‘I don’t see why we have to let a country go Marxist just because its people are irresponsible’—suggests he may have been having the best of times.... 3. Cyprus.... Kissinger approved of the preparations by Greek Cypriot fascists for the murder of President Makarios, and sanctioned the coup which tried to extend the rule of the Athens junta (a favoured client of his) to the island. When despite great waste of life this coup failed in its objective, which was also Kissinger’s, of enforced partition, Kissinger promiscuously switched sides to support an even bloodier intervention by Turkey. Thomas Boyatt ... went to Kissinger in advance of the anti-Makarios putsch and warned him that it could lead to a civil war. ‘Spare me the civics lecture,’ replied Kissinger, who as you can readily see had an aphorism for all occasions. 4. Kurdistan. Having endorsed the covert policy of supporting a Kurdish revolt in northern Iraq between 1974 and 1975, with ‘deniable’ assistance also provided by Israel and the Shah of Iran, Kissinger made it plain to his subordinates that the Kurds were not to be allowed to win, but were to be employed for their nuisance value alone. They were not to be told that this was the case, but soon found out when the Shah and Saddam Hussein composed their differences, and American aid to Kurdistan was cut off. Hardened CIA hands went to Kissinger ... for an aid programme for the many thousands of Kurdish refugees who were thus abruptly created.... The apercu of the day was: ‘foreign policy should not he confused with missionary work.’ Saddam Hussein heartily concurred. 5. East Timor. The day after Kissinger left Djakarta in 1975, the Armed Forces of Indonesia employed American weapons to invade and subjugate the independent former Portuguese colony of East Timor. Isaacson gives a figure of 100,000 deaths resulting from the occupation, or one-seventh of the population, and there are good judges who put this estimate on the low side. Kissinger was furious when news of his own collusion was leaked, because as well as breaking international law the Indonesians were also violating an agreement with the United States.... Monroe Leigh ... pointed out this awkward latter fact. Kissinger snapped: ‘The Israelis when they go into Lebanon—when was the last time we protested that?’ A good question, even if it did not and does not lie especially well in his mouth. It goes on and on and on until one cannot eat enough to vomit enough.

In the 1990s, the ratio of buy to sell recommendations climbed to 100 to 1, particularly for brokerage firms with large investment banking businesses.

Consider brokerage and taxes while calculating profit and loss:-

5)​Brokerage Systems Brokers bring buyers and sellers together and facilitate transactions. They are market-makers for a particular industry and earn money typically on each transaction.

The Decentralization of Finance is really good for humanity and it’s ultimately a win for each and every one of us. Because now that we can circumvent banks, exchanges and brokerage companies by using smart contracts on the blockchain… every person, every family, and every business will experience more more liberty, more freedom, more opportunities, more abundance, more power, and more wealth.

The amount of space per employee shrank from 500 square feet in the 1970s to 200 square feet in 2010, according to Peter Miscovich, a managing director at the real estate brokerage firm Jones Lang LaSalle.

The Decentralization of Finance is really good for humanity. Now that we circumvent can banks, exchanges and brokerages by using smart contracts on the blockchain… every person, every family, and every business will experience more freedom, more liberty, more opportunities, more power, more abundance, and more wealth. So DeFi is a win for humanity.

You need to have a Why Having a “Why” whatever it is, becomes food. It makes your dreams become more urgent.

Of 1,028 stock recommendations made by the typical brokerage firm during the first quarter of 2001 (the peak if the bull market), only 7 were "sell" recommendations.

The Decentralization of Finance is really good for humanity and it’s ultimately a win for each and every one of us. Because now that we can circumvent banks, exchanges and brokerage companies by using smart contracts on the blockchain… every person, every family, and every business will experience more liberty, more freedom, more opportunities, more abundance, more power, and more wealth. This makes way for more opportunities around financial wellness, permaculture investing, more effective crowdfunding, better ownership and equity arrangements, and more.

J. P. Morgan tells the story of how he would get his shoes shined every Wednesday at the same shop around the corner from his office. One day the shoe shine attendant asked him if he and his friends could buy some stock through Morgan’s brokerage. The three friends had about $40—a lot of money in 1929. Morgan politely refused, hurried back to his office, and ordered that his company was not to have a single share of stock on its books by the end of the day. Morgan simply asked, “If the shoe shine boys are buying stocks, who else is left?” Of course, the 1929 stock market crash was only a few days away, and Morgan looked like a genius. He was not a genius; he noted that the order flow was likely running out on the buy side. It wasn’t his army of analysts that showed him that. It was a public investor.

I inherited from my father and still nourish the notion that Republicans are those who have acquired enough money, often by inheritance and blind luck, to entertain the opinion that their fellow citizens should work harder and be more grateful to the moneyed class while they refrain from work themselves and sit in clean rooms with folded soft hands examining their bank statements and brokerage reports.

If you are trading S&P 500 stocks, for example, the average transaction cost (excluding commissions, which depend on your brokerage) would be about 5 basis points (that is, five-hundredths of a percent).

As Benjamin Franklin said, “Don’t put off until tomorrow what you can do today.” And as Ramit Sethi said, “Let others debate minutiae—all you need to do is open an investment account at a discount brokerage. Sucka.

No longer are job applicants to Wall Street firms asked, “When you meet a woman, what interests you most about her?” as applicants to Merrill Lynch’s 1972 brokerage trainee class were. (The answer the bank was looking for was “her beauty.”)

My retirement nest egg scrambled My commodity options were called -- Pork went belly up; coffee peaked then crashed My home was foreclosed My car repossessed My brokerage house went bankrupt My bank was nationalized God, I need a drink I’m fucking spent!

Someone driving a $100,000 car might be wealthy. But the only data point you have about their wealth is that they have $100,000 less than they did before they bought the car (or $100,000 more in debt). That’s all you know about them. We tend to judge wealth by what we see, because that’s the information we have in front of us. We can’t see people’s bank accounts or brokerage statements. So we rely on outward appearances to gauge financial success. Cars. Homes. Instagram photos. Modern capitalism makes helping people fake it until they make it a cherished industry.

Someone who takes the trouble to see her file at one of the many brokerages, for example, might see the home mortgage, a Verizon bill, and a $ 459 repair on the garage door. But she won’t see that she’s in a bucket of people designated as “Rural and Barely Making It,”or perhaps “Retiring on Empty.

1. Bangladesh.... In 1971 ... Kissinger overrode all advice in order to support the Pakistani generals in both their civilian massacre policy in East Bengal and their armed attack on India from West Pakistan.... This led to a moral and political catastrophe the effects of which are still sorely felt. Kissinger’s undisclosed reason for the ‘tilt’ was the supposed but never materialised ‘brokerage’ offered by the dictator Yahya Khan in the course of secret diplomacy between Nixon and China.... Of the new state of Bangladesh, Kissinger remarked coldly that it was ‘a basket case’ before turning his unsolicited expertise elsewhere.

I could see, in the haze to the north, the tall stacks of the mighty Borden phosphate and fertilizer plant in Bradenton, spewing lethal fluorine and sulphuric-acid components into the vacation sky. In the immediate area it is known bitterly as the place where Elsie the Cow coughed herself to death. I have read where it had been given yet another two years to correct its massive and dangerous pollution. Big Borden must have directors somewhere. Maybe, like the Penn Central directors, they are going to sit on their respective docile asses until the roof falls in. There are but two choices. Either they know they condone poisoning and don't give a damn, or they don't know they condone poisoning and don't give a damn. Anybody can walk into any brokerage office and be told where to look to find a complete list of the names of the directors and where they live. Drop the fellows a line, huh?

In science, all important ideas need names and stories to fix them in the memory. It occurred to me that the market's first wild trait, abrupt change or discontinuity, is prefigured in the Bible tale of Noah. As Genesis relates, in Noah's six hundredth year God ordered the Great Flood to purify a wicked world. Then "were all the fountains of the great deep broken up, and the windows of heaven were opened." Noah survived, of course: He prepared against the coming flood by building a ship strong enough to withstand it. The flood came and went-catastrophic, but transient. Market crashes are like that. The 29.2 percent collapse of October 19, 1987, arrived without warning or convincing reason; and at the time, it seemed like the end of the financial world. Smaller squalls strike more often, with more localized effect. In fact, a hierarchy of turbulence, a pattern that scales up and down with time, governs this bad financial weather. At times, even a great bank or brokerage house can seem like a little boat in a big storm.

As long as I’m earning money and I stay inside my limits, everyone’s happy. What’s more, it makes me top earner in the firm. Do you see this office? The boss of Barclays Thailand used to sit here. You might be wondering why a lousy broker like me is here. It’s because there’s only one thing that counts in a brokerage company: how much money you earn. Everything else is decoration. Bosses, too. They’re only administrators who are dependent on those of us in the market to keep their jobs and salaries. My boss has now moved to a comfortable office on the floor below because I threatened to go to a competitor with all my clients if I didn’t get a better bonus agreement. And this office.

What is a “pyramid?” I grew up in real estate my entire life. My father built one of the largest real estate brokerage companies on the East Coast in the 1970s, before selling it to Merrill Lynch. When my brother and I graduated from college, we both joined him in building a new real estate company. I went into sales and into opening a few offices, while my older brother went into management of the company. In sales, I was able to create a six-figure income. I worked 60+ hours a week in such pursuit. My brother worked hard too, but not in the same fashion. He focused on opening offices and recruiting others to become agents to sell houses for him. My brother never listed and sold a single house in his career, yet he out-earned me 10-to-1. He made millions because he earned a cut of every commission from all the houses his 1,000+ agents sold. He worked smarter, while I worked harder. I guess he was at the top of the “pyramid.” Is this legal? Should he be allowed to earn more than any of the agents who worked so hard selling homes? I imagine everyone will agree that being a real estate broker is totally legal. Those who are smart, willing to take the financial risk of overhead, and up for the challenge of recruiting good agents, are the ones who get to live a life benefitting from leveraged Income. So how is Network Marketing any different? I submit to you that I found it to be a step better. One day, a friend shared with me how he was earning the same income I was, but that he was doing so from home without the overhead, employees, insurance, stress, and being subject to market conditions. He was doing so in a network marketing business. At first I refuted him by denouncements that he was in a pyramid scheme. He asked me to explain why. I shared that he was earning money off the backs of others he recruited into his downline, not from his own efforts. He replied, “Do you mean like your family earns money off the backs of the real estate agents in your company?” I froze, and anyone who knows me knows how quick-witted I normally am. Then he said, “Who is working smarter, you or your dad and brother?” Now I was mad. Not at him, but at myself. That was my light bulb moment. I had been closed-minded and it was costing me. That was the birth of my enlightenment, and I began to enter and study this network marketing profession. Let me explain why I found it to be a step better. My research led me to learn why this business model made so much sense for a company that wanted a cost-effective way to bring a product to market. Instead of spending millions in traditional media ad buys, which has a declining effectiveness, companies are opting to employ the network marketing model. In doing so, the company only incurs marketing cost if and when a sale is made. They get an army of word-of-mouth salespeople using the most effective way of influencing buying decisions, who only get paid for performance. No salaries, only commissions. But what is also employed is a high sense of motivation, wherein these salespeople can be building a business of their own and not just be salespeople. If they choose to recruit others and teach them how to sell the product or service, they can earn override income just like the broker in a real estate company does. So now they see life through a different lens, as a business owner waking up each day excited about the future they are building for themselves. They are not salespeople; they are business owners.

If nothing else, Alice, you will have sight of one of the grandest buildings in the city, one of the grandest ever built, in fact. That florid thing cost three hundred eighty thousand dollars to erect! It is as ornate as a cathedral. But, oh so mixed up. A bit of everything thrown in---Second Empire, Renaissance, Italian, with Corinthian columns, no less. Gold ceiling medallions, frescoes, murals, sculptures--- even a fountain, where the futures are sold. Well, not in the fountain.” Constance laughed uncertainly. “And an ornate steam elevator… Well, just don’t bid on the cotton futures.

To the untrained eye, the Wall Street people who rode from the Connecticut suburbs to Grand Central were an undifferentiated mass, but within that mass Danny noted many small and important distinctions. If they were on their BlackBerrys, they were probably hedge fund guys, checking their profits and losses in the Asian markets. If they slept on the train they were probably sell-side people—brokers, who had no skin in the game. Anyone carrying a briefcase or a bag was probably not employed on the sell side, as the only reason you’d carry a bag was to haul around brokerage research, and the brokers didn’t read their own reports—at least not in their spare time. Anyone carrying a copy of the New York Times was probably a lawyer or a back-office person or someone who worked in the financial markets without actually being in the markets. Their clothes told you a lot, too. The guys who ran money dressed as if they were going to a Yankees game. Their financial performance was supposed to be all that mattered about them, and so it caused suspicion if they dressed too well. If you saw a buy-side guy in a suit, it usually meant that he was in trouble, or scheduled to meet with someone who had given him money, or both. Beyond that, it was hard to tell much about a buy-side person from what he was wearing. The sell side, on the other hand, might as well have been wearing their business cards: The guy in the blazer and khakis was a broker at a second-tier firm; the guy in the three-thousand-dollar suit and the hair just so was an investment banker at J.P. Morgan or someplace like that. Danny could guess where people worked by where they sat on the train. The Goldman Sachs, Deutsche Bank, and Merrill Lynch people, who were headed downtown, edged to the front—though when Danny thought about it, few Goldman people actually rode the train anymore. They all had private cars. Hedge fund guys such as himself worked uptown and so exited Grand Central to the north, where taxis appeared haphazardly and out of nowhere to meet them, like farm trout rising to corn kernels. The Lehman and Bear Stearns people used to head for the same exit as he did, but they were done. One reason why, on September 18, 2008, there weren’t nearly as many people on the northeast corner of Forty-seventh Street and Madison Avenue at 6:40 in the morning as there had been on September 18, 2007.

The fragility of the US economy had nearly destroyed him. It wasn't enough that Citadel's walls were as strong and impenetrable as the name implied; the economy itself needed to be just as solid. Over the next decade, he endeavored to place Citadel at the center of the equity markets, using his company's superiority in math and technology to tie trading to information flow. Citadel Securities, the trading and market-making division of his company, which he'd founded back in 2003, grew by leaps and bounds as he took advantage of his 'algorithmic'-driven abilities to read 'ahead of the market.' Because he could predict where trades were heading faster and better than anyone else, he could outcompete larger banks for trading volume, offering better rates while still capturing immense profits on the spreads between buys and sells. In 2005, the SEC had passed regulations that forced brokers to seek out middlemen like Citadel who could provide the most savings to their customers; in part because of this move by the SEC, Ken's outfit was able to grow into the most effective, and thus dominant, middleman for trading — and especially for retail traders, who were proliferating in tune to the numerous online brokerages sprouting up in the decade after 2008. Citadel Securities reached scale before the bigger banks even knew what had hit them; and once Citadel was at scale, it became impossible for anyone else to compete. Citadel's efficiency, and its ability to make billions off the minute spreads between bids and asks — multiplied by millions upon millions of trades — made companies like Robinhood, with its zero fees, possible. Citadel could profit by being the most efficient and cheapest market maker on the Street. Robinhood could profit by offering zero fees to its users. And the retail traders, on their couches and in their kitchens and in their dorm rooms, profited because they could now trade stocks with the same tools as their Wall Street counterparts.

If Jim was back at the imaginary dinner party, trying to explain what he did for a living, he'd have tried to keep it simple: clearing involved everything that took place between the moment someone started at trade — buying or selling a stock, for instance — and the moment that trade was settled — meaning the stock had officially and legally changed hands. Most people who used online brokerages thought of that transaction as happening instantly; you wanted 10 shares of GME, you hit a button and bought 10 shares of GME, and suddenly 10 shares of GME were in your account. But that's not actually what happened. You hit the Buy button, and Robinhood might find you your shares immediately and put them into your account; but the actual trade took two days to complete, known, for that reason, in financial parlance as 'T+2 clearing.' By this point in the dinner conversation, Jim would have fully expected the other diners' eyes to glaze over; but he would only be just beginning. Once the trade was initiated — once you hit that Buy button on your phone — it was Jim's job to handle everything that happened in that in-between world. First, he had to facilitate finding the opposite partner for the trade — which was where payment for order flow came in, as Robinhood bundled its trades and 'sold' them to a market maker like Citadel. And next, it was the clearing brokerage's job to make sure that transaction was safe and secure. In practice, the way this worked was by 10:00 a.m. each market day, Robinhood had to insure its trade, by making a cash deposit to a federally regulated clearinghouse — something called the Depository Trust & Clearing Corporation, or DTCC. That deposit was based on the volume, type, risk profile, and value of the equities being traded. The riskier the equities — the more likely something might go wrong between the buy and the sell — the higher that deposit might be. Of course, most all of this took place via computers — in 2021, and especially at a place like Robinhood, it was an almost entirely automated system; when customers bought and sold stocks, Jim's computers gave him a recommendation of the sort of deposits he could expect to need to make based on the requirements set down by the SEC and the banking regulators — all simple and tidy, and at the push of a button.

For an example of empathy in action, consider what happened when two giant brokerage companies merged, creating redundant jobs in all their divisions. One division manager called his people together and gave a gloomy speech that emphasized the number of people who would soon be fired. The manager of another division gave his people a different kind of speech. He was up-front about his own worry and confusion, and he promised to keep people informed and to treat everyone fairly.

The DA’s office was in a tall glass-and-chrome building across the street from a Thai food restaurant and a gym. Kitty-corner from it was another office building filled with law firms and stock brokerages. Brigham rushed into the building. He’d gotten there with three minutes to spare. Molly was sitting in a lounge chair doing something on her phone. She saw him and rose.

Senator Warren questions SEC chair on broker reforms 525 words By Sarah N. Lynch WASHINGTON (Reuters) - Senator Elizabeth Warren said Friday that the Labor Department should press ahead with brokerage industry reforms, and not be deterred by the Securities and Exchange Commission's plans to adopt its own separate rules.    President Barack Obama, with frequent Wall Street critic Warren at his side, last month called on the Labor Department to quickly move forward to tighten brokerage standards on retirement advice, lending new momentum to a long-running effort to implement reforms aimed at reducing conflicts of interest and "hidden fees." But that effort could be complicated by a parallel track of reforms by the SEC, whose Chair Mary Jo White on Tuesday said she supported moving ahead with a similar effort to hold retail brokers to a higher "fiduciary" standard. "I want to see the Department of Labor go forward now," Warren told Reuters in an interview Friday. "There is no reason to wait for the SEC. There is no question that the Department of Labor has the authority to act to ensure that retirement advisers are serving the best interest of their clients." Warren said that while she has no concerns with the SEC moving forward to write its own rules, she fears its involvement may give Wall Street a hook to try to delay or water down a separate ongoing Labor Department effort to craft tough new rules governing how brokers dole out retirement advice. She also raised questions about White's decision to unveil her position at a conference hosted by the Securities Industry and Financial Markets Association (SIFMA), a trade group representing the interests of securities brokerage firms. Not only is the SEC the lead regulator for brokers, but unlike the Labor Department, it is also bound by law to preserve brokers' commission-based compensation in any new fiduciary rule.     "I was surprised that (Chair) White announced the rule at a conference hosted by an industry trade group that spent several years and millions of dollars lobbying members of Congress to block real action to fix the problem," Warren said. Warren, a Massachusetts Democrat who frequently challenges market regulators as too cozy with industry, stopped short of directly criticizing White. The SEC and SIFMA both declined to comment on Warren's comments. SIFMA has strongly opposed the Labor Department's efforts, fearing its rule will contain draconian measures that would cut broker profits, and in turn, force brokers to pull back from offering accounts and advice to American retirees. It has long advocated for the SEC to take the lead on a rule that would create a new uniform standard of care for brokers and advisers. The SEC has said it has been coordinating with the Labor Department on the rule-writing effort, but on Tuesday White also acknowledged that the two can still act independently of one another because they operate under different laws. The industry and reform advocates have been waiting now for years to see whether the SEC would move to tighten standards.     Warren expressed some skepticism on Friday about whether the SEC will ever in fact actually adopt a rule, saying that for years the agency has talked about taking action, but has not delivered. (Reporting by Sarah N. Lynch; Editing by Christian Plumb)

Brokerage jobs will continue to dry up unless they offer value-added services, such as the wisdom of top market analysts and economists and the inside knowledge of experienced

In addition to lower expense ratios on ETFs, Vanguard charges purchase and redemption fees on several open-end funds. There are no extra fees on Vanguard ETFs although there is a brokerage commission cost to buy and sell shares.

What is the potential for appreciation? Is the outlook bright for the future financial performance of the acquiring company? Do your homework—check out the stock and its upside potential. If you had received cash instead of stock, would you purchase a large quantity of the company’s stock? Review stock analysts’ reports. Ask the company which analysts follow the company and get copies of recent reports from their brokerage firms.

Widowed at the age of twenty-seven, with no formal business training and no firsthand experience, Barbe-Nicole transformed a well-funded but struggling and small-time family wine brokerage into arguably the most important champagne house of the nineteenth century in just over a decade. It

In India, advisors may receive incentives as referral fees, commission, brokerage, etc. from various financial services organizations including banks. In

The full-service brokerage offers expert advice that can manage your account, given that, they charge quite expensively. Discount brokers carry out buy and sell orders but provide no investment advice, thus, the commission cost is lower in this case.

During trading hours, trade either from a closed room where there is no disturbance, or from your office. Don’t take calls and don’t seek opinions about stocks once the trading day begins. Get a brokerage account with a terminal where you can pull out all charts of all kinds of time periods, namely day charts, weekly charts.

Today, you have the option to invest through a discount brokerage account, a mutual fund account, a full-service brokerage account, or even a bank account.

No man ever steps in the same river twice. ~ Heraclitus We live in a word of ever-present change: the dispossessed buy Disney time shares the disenfranchised open Subways the disabled get the best parking spaces at the mall the disbelievers meet Jesus at a hockey game the disconcerted get the best seats to Rolling Stones concerts the disconnected have the most Facebook friends the discouraged win Purple Hearts in Fallujah the discredited have Amex Platinum Cards the discrete are exposed by the Washington Post the disgraced cash in big on their notoriety the disheveled design successful urban clothing lines the dishonest run our banks and brokerage houses the disreputable hold the highest offices. Shit, today, even the disgruntled have turn gruntled. So, fuck you Heraclitus of Ephesus! I'm tossing your bipolar Greek ass back in the river you came from.

Discount brokerage accounts are low-cost online accounts offered by firms like E*TRADE, Charles Schwab, and Fidelity. These accounts allow do-it-yourself investors to purchase a large variety of common stocks, mutual funds, and exchange-traded funds (ETFs),

Regulators lent a helping hand. On a spring afternoon in late April 2004, five members of the Securities and Exchange Commission gathered in a basement hearing room to meet a contingent of representatives from Wall Street’s big investment banks to talk about risk. The banks had asked for an exemption for their brokerage units from a regulation that limited the amount of debt they could hold on their balance sheets. The rule required banks to hold a large reserve of cash as a cushion against big losses on those holdings. By loosening up these so-called capital reserve requirements, the banks could become more aggressive and deploy the extra cash in other, more lucrative areas—such as mortgage-backed securities and derivatives.

As a customer's man, his best brokerage work was securing the old age of his clients: time for them to do what they wished.

Taxi drivers told you what to buy. The shoeshine boy could give you a summary of the day's financial news as he worked with rag and polish. An old beggar who regularly patrolled the street in front of my office now gave me tips and, I suppose, spent the money I and others gave him in the market. My cook had a brokerage account and followed the ticker closely.

When the church becomes a place of brokerage rather than an organic community, she ceases to be alive. She ceases to be something we are, the living bride of Christ. The church becomes a distribution center, a place where the poor come to get stuff and the rich come to dump stuff. Both go away satisfied (the rich feel good, the poor get clothed and fed), but no one leaves transformed.

Asset management fees, 12b-1 fees/marketing fees, trading costs (brokerage commissions, spread costs, market impact costs), soft-dollar costs, redemption fees, account fees, purchase fees, record-keeping fees, plan administrative fees, and on and on.

Find the best real estate agent qualified to assist in your real estate brokerage dealings in Deerfield Beach, Florida. Earn 100% Commission Real Estate in Florida

name, but he lives around the corner.’ Mary sighed. ‘He works in a law firm — or a finance brokerage — or something like that—’ she lifted her left hand and moved her wrist in circles ‘—on the next street over. Of course, when you walk past a shelter wearing a Rolex you’re going to be asked if you can spare some change.’ She shook her head. ‘But yes, I know who you mean, and I’ve heard him say those things.’ ‘He mean anything by them you think?’ She studied Roper for a second. ‘Are you asking if I think he could have murdered Ollie?’ Roper stayed quiet. He couldn’t lead her into anything. After a second, he said, ‘I’m not asking anything other than whether you think that he’s worth speaking to.’ Diplomatic he wasn’t. ‘I don’t know. I’ve never spoken to him — only heard his voice, had him described to me.’ Jamie cut in now. ‘Has he ever assaulted any of the people who come here? Any violence, or direct threat?’ ‘Direct threat?’ Roper sucked his teeth. ‘As in, I’m going to drown you versus you should be drowned.’ Mary’s mouth crumped into a wrinkled line. ‘I don’t know that I can really say whether… I… I don’t know is the simple answer. Lots of people take offence to the shelter being here. It wouldn’t be out of the question for someone to act rashly — but him? I don’t know.’ She was being careful not to say anything that would incriminate the possibly innocent man. She turned to Roper, trying to sound casual. There was no need to worry Mary. ‘We’ll get some uniformed officers to canvas the area — ask around to see whether the shelter has had an impact on anyone in particular.’ She smiled at Mary now. ‘But don’t worry, it’s just eliminating the most improbable suspects first, narrowing down the scope of the investigation, you know?’ ‘Am I a suspect?’ Mary asked, stopping

worked in the brokerage industry before banks were majority owners, and also after banks purchased 90% of investment firms. Recall that the repeal of Glass Steagall by Bill Clinton in the 1990’s allowed banks back into the investment business. All that stands in the way of banks and investment dealers farming the public, was the capture of the regulatory bodies, the men and women who “stand up for the public interest”. It turns out that for a few tens of millions of dollars (give or take) any regulatory body in the world can be entirely funded, and hundreds of billions can then be quietly harvested by taking advantage of the public, with the help of those financially captured “regulators”. Case in point, it used to be that financial “advice” was something that wealthy people paid for, and they received experience advice in return. (see Securities Acts 1936, 1940 etc)

Whilst writing this chapter I examined the accounts of a large UK CFD and spread betting provider. They made an average of $1,379 in revenue per customer. Revenue for a brokerage company is a cost for their customers. The customers had an average of $500 on deposit with the brokers at the end of the year. Running a brokerage firm is clearly more lucrative than being a client. According to an old story, a naive client visiting New York and admiring the boats of bankers and brokers asked: “Where are the customers’ yachts?” Every time you trade you remove some money from your account and hand it to your broker. Limit your trading to the absolute minimum. Do not assume you will make sufficient profits to cover costs which are inflated by overtrading. Those

DiPascali, a small terrier-like man with the unpolished speech of his native Queens, came through for Madoff. Using self-taught computer skills and the historical stock and options prices available to any brokerage firm, he created a convincing paper trail covering several years of complex trading activity that almost certainly had never occurred.

Transaction Costs. Transaction costs are a broad, sweeping category and can be broken down further into categories such as brokerage commissions, market impact costs (the cost of moving the market as mutual funds trade massive market-moving positions), and spread costs (the difference between the bid-and-ask or the buy-and-sell price of a stock).

Estimize site is a good source of information because they crowdsource earnings and economic estimates from over 72,000 hedge fund, brokerage, independent and amateur analysts.

But an active investor can overweight a stock only if other market players take offsetting underweight positions. By definition, the sum of overweight positions must equal the sum of underweight positions, allowing the market weight to remain the market weight. Obviously, based on subsequent performance, the overweighters and underweighters turn into winners and losers (or losers and winners). If the stock in question performs well relative to the market, the overweighters win and the underweighters lose. If the stock performs poorly relative to the market, the overweighters lose and the underweighters win. Before considering transaction costs, active management appears to be a zero-sum game, a contest in which the winners’ gains exactly offset the losers’ losses. Unfortunately for active portfolio managers, investors incur significant costs in pursuit of market-beating strategies. Stock pickers pay commissions to trade and create market impact with buys and sells. Mutual-fund purchasers face the same market-related transactions costs in addition to management fees paid to advisory firms and distribution fees paid to brokerage firms. The leakage of fees from the system causes active management to turn into a negative-sum game in which the aggregate returns for active investors fall short of the aggregate returns for the market as a whole.

The ease of entry into the stock market—no license or training required; just open a brokerage account and go—may give people the false impression that trading is easy.

The basic solution was to pass the expressed interests and passions of the voting populace through a filter of overlapping and mutually checking representative processes and bodies—again, staggered elections, separation of powers, accountability of rulers to fragmented, conflicting, competing, and overlapping voting constituencies, and all the rest of the formidably intricate system of eviscerated powers and checks and balances. In order to govern, representatives would have to bargain with one another ceaselessly in a vast system of brokerage and accommodation that would give something to everybody—liberty to the individual, desired laws or appropriations to groups, and governmental balance and stability to the whole.

There's an easy way to own a piece of every Dividend Aristocrat: just buy some shares of NOBL. It is the ProShares S&P 500 Dividend Aristocrats ETF. It trades just like a stock, and you can purchase it using any brokerage account.

Because the general prospects of the enterprise carry major weight in the establishment of market prices, it is natural for the security analyst to devote a great deal of attention to the economic position of the industry and of the individual company in its industry. Studies of this kind can go into unlimited detail. They are sometimes productive of valuable insights into important factors that will be operative in the future and are insufficiently appreciated by the current market. Where a conclusion of that kind can be drawn with a fair degree of confidence, it affords a sound basis for investment decisions. Our own observation, however, leads us to minimize somewhat the practical value of most of the industry studies that are made available to investors. The material developed is ordinarily of a kind with which the public is already fairly familiar and that has already exerted considerable influence on market quotations. Rarely does one find a brokerage-house study that points out, with a convincing array of facts, that a popular industry is heading for a fall or that an unpopular one is due to prosper. Wall Street’s view of the longer future is notoriously fallible, and this necessarily applies to that important part of its investigations which is directed toward the forecasting of the course of profits in various industries. We must recognize, however, that the rapid and pervasive growth of technology in recent years is not without major effect on the attitude and the labors of the security analyst. More so than in the past, the progress or retrogression of the typical company in the coming decade may depend on its relation to new products and new processes, which the analyst may have a chance to study and evaluate in advance. Thus there is doubtless a promising area for effective work by the analyst, based on field trips, interviews with research men, and on intensive technological investigation on his own. There are hazards connected with investment conclusions derived chiefly from such glimpses into the future, and not supported by presently demonstrable value. Yet there are perhaps equal hazards in sticking closely to the limits of value set by sober calculations resting on actual results. The investor cannot have it both ways. He can be imaginative and play for the big profits that are the reward for vision proved sound by the event; but then he must run a substantial risk of major or minor miscalculation. Or he can be conservative, and refuse to pay more than a minor premium for possibilities as yet unproved; but in that case he must be prepared for the later contemplation of golden opportunities foregone.

Even if your own answer to these questions is no, it’s a fact that individuals tend to sell winning investments too quickly and keep losing ones too long. It was verified in 1997 by two researchers, Terrance Odean and Brad Barber. They analyzed the trading records of ten thousand accounts at a large national discount brokerage firm over a seven-year period beginning in 1987 and ending in 1993. Among other findings, their gargantuan research effort highlighted a pair of remarkable facts. First, investors were in fact more likely to sell stocks that had risen in price rather than those that had fallen.

your brokerage costs, by trading rarely, patiently, and cheaply your ownership costs, by refusing to buy mutual funds with excessive annual expenses your expectations, by using realism, not fantasy, to forecast your returns7 your risk, by deciding how much of your total assets to put at hazard in the stock market, by diversifying, and by rebalancing your tax bills, by holding stocks for at least one year and, whenever possible, for at least five years, to lower your capital-gains liability and, most of all, your own behavior.

Virtually all brokerage firms offer individual retirement accounts (IRAs). There are two main types: traditional and Roth. The main difference between them is tax treatment. Traditional IRAs give you a tax deduction now, and tax-deferred growth for the money in the account; you pay taxes only when you begin to withdraw money. Roth IRAs give you no tax deduction now, but all of the money in the account grows tax-free as long as you don’t take it out early (the after-tax money you put in you can still access penalty-free if you need to).

MBS can be harder to buy and sell than other types of bonds, as they’re bought mainly by institutional investors. Many MBS are issued and sold in large denominations (like $25,000 minimums), but some are issued at $1,000 (like most other types of bonds). You can trade MBS through specialty bond brokers, which you can find at most major brokerages (like Charles Schwab or Merrill Edge). The easiest way to invest in MBS is through specialty mutual funds or ETFs. Though technically MBS are not fixed-income investments (because the payments can vary monthly), they’re usually included in that category (because they’re bonds).

ETFs tend to have very low expense ratios, and they can be more tax efficient than mutual funds because they are able to sell holdings without generating a taxable event. This could be an advantage for taxable investors. However, brokerage commissions are charged on the purchase of ETFs, and for small and moderate purchases these commissions can overwhelm those other advantages. No-load indexed mutual funds typically have no purchase fees. However, if you are investing a lump sum (as, for example, when rolling over an established plan such as an IRA), an ETF may be an optimal choice.

oan Hilliard could feel the smile on her face as she stepped from her car. Not the best wheels, but they were hers, a token of four years spent working in a brokerage firm. Joan had always wanted to be a teacher, but she had finished college at the wrong time. To her great disappointment, she couldn’t land a teaching position. She had still wanted her own classroom but decided that any job was better than nothing. The brokerage firm paid well, and she felt better for the experience. She had learned about herself, how to work with other adults, and what life at work was all about. Above all, she felt more confident. She had learned to cope in a demanding and stressful adult environment. That experience ought to help in a classroom of kids. She was delighted to get a teaching assignment at Pico School. It looked like a friendly place from the outside. The surrounding neighborhood was in decline, but Pico boasted green lawns, welltrimmed shrubbery, and large, lattice-paned windows. Built in the 1950s, it had the architectural charm that Joan remembered from the schools of her childhood. As she walked through the arched entryway, she noticed the vaguely familiar smells of new wax and summer mustiness. As she turned down the corridor leading to the principal’s office, she ran into a tall, broad-shouldered man with hands on hips, scrutinizing the newly polished sheen on the floor. This had to be the custodian, admiring his work before hundreds of students’feet turned it into a mosaic of scuff marks. As she moved closer, he looked up and smiled as if he had

Coronelismo arose as a symptom of the decadence of rural patriarchies and the growing dependence of landowners on public officials. This was to maintain their own privileged position, which was built on the latticework of dependency of the popular sectors under them. As a form of brokerage, coronelismo emerged from the new need for compromise between urban groups and rural economic interests and was formed around the manipulation of an electorate that had grown significantly since the declaration of the republic. It developed as a mediating zone between the diminishing mechanisms of private power and the progressive strengthening of public power.

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Benoit began life in the year 1889, with the coming of the Yazoo and Mississippi Valley Railroad. There was never any plan to run track through the plantations south of Rosedale, but James Richardson, the largest individual cotton grower in the world at that time, offered the railroad free use of his land if, in turn, the company built him a station. James was the eldest son of Edmund Richardson, a planter whose holdings at one time included banks, steamboats, and railroads. He owned three-dozen cotton plantations and had a controlling interest in Mississippi Mills, the largest textile plant in the Lower South. His New Orleans-based brokerage house, Richardson and May, handled more than 250,000 bales of cotton every year. Edmund Richardson was not always so prosperous. By the end of the Civil War, he had lost almost his entire net worth, close to $1 million. So in 1868, Richardson struck a deal with the federal authorities in Mississippi to contract labor from the state penitentiary, which was overflowing with ex-slaves, and work the men outside prison walls. He promised to feed and clothe the prisoners, and in return, the government agreed to pay him $18,000 a year for their maintenance. The contract struck between Richardson and the State of Mississippi began an era of convict leasing that would spread throughout the South. Before it was over, a generation of black prisoners would suffer and die under conditions that were in many cases worse than anything they had ever experienced as slaves. Confining his laborers to primitive camps, Richardson forced the convicts to clear hundreds of acres of dense woodland throughout the Yazoo Delta. When the land was cleared, he put prisoners to work raising and picking cotton on the plowed gound. Through this new system, Richardson regained his fortune. By 1880 he had built a mansion in New Orleans, another in Jackson, and a sprawling plantation house known as Refuge in the Yazoo Delta. When he died in 1886, he left his holdings to his eldest son, James. As an inveterate gambler and drunk, James decided to spend his inheritance building a new town, developed solely as a center for sport. He bought racehorses and designed a racetrack. He built five brick stores and four homes. In 1889, when the station stop was finally completed for his new city, James told the railroad to call the town Benoit, after the family auditor. James’s sudden death in 1898 put an end to his ambitions for the town. But decades later, a Richardson Street still ran through Benoit, westward toward the river, in crumbling tribute to the man.

It’s when you’ve decided to invest on your own that you ought to try going it alone. That means ignoring the hot tips, the recommendations from brokerage houses, and the latest “can’t miss” suggestion from your favorite newsletter—in favor of your own research. It means ignoring the stocks that you hear Peter Lynch, or some similar authority, is buying.

You can just buy the ProShares S&P 500 Dividend Aristocrats ETF. The ticker is NOBL, and this ETF (exchange-traded fund) trades just like a stock. You can purchase it using any brokerage account. Today NOBL trades at $62.65 per share. So if you have $1,000, you can buy 15.96 shares of NOBL (1000 divided by 62.65). You’ll pay an expense ratio of 0.35% to own this ETF. What this means is that if you invest $1,000 in this ETF, you will pay them $3.50 every year for the privilege of owning their ETF.

Becoming an Online Investor is a very simple process. And trading online has never been easier or more cost effective. But being successful with your investing means more than finding the cheapest brokerage.

Instead, recognize that investing intelligently is about controlling the controllable. You can’t control whether the stocks or funds you buy will outper-forms the market today, next week, this month, or this year; in the short run, your returns will always be hostage to Mr. Market and his whims. But you can control: your brokerage costs, by trading rarely, patiently, and cheaply your ownership costs, by refusing to buy mutual funds with excessive annual expenses your expectations, by using realism, not fantasy, to forecast your returns7 your risk, by deciding how much of your total assets to put at hazard in the stock market, by diversifying, and by rebalancing your tax bills, by holding stocks for at least one year and, whenever possible, for at least five years, to lower your capital-gains liability and, most of all, your own behavior.

upload this order file to your brokerage's basket trader or spread trader

introduce them to one of the most fascinating and valuable little volumes in existence. It is Standard & Poor’s Stock Guide, published monthly, and made available to the general public under annual subscription. In addition many brokerage firms distribute the Guide to their clients

Career inflection points are commonplace. A story comes to mind. It so happens that it was related to me by a business journalist who had interviewed me when this book was first published. This man used to be a banker. He was happily and productively employed until one day he went to work and learned that his employer had been acquired by another, larger bank. In short order he was out of a job. He decided to change careers and become a stockbroker. He knew that he would have to pay his dues. While he was comfortable with financial matters, he knew that a banker’s skills are not the same as those required of a stockbroker. So he went to stockbroker school and eventually started working as a full-fledged broker. For a while, things went well and the future looked promising. However, a short time before we met, on-line brokerage firms started to appear. Several of this man’s clients left him, preferring to do their business with low-cost on-line firms. The handwriting was on the wall. This time, our man decided to make his move early. He had always had an interest in, and aptitude for, writing. Building on the financial knowledge that he had first acquired as a banker, and that was reinforced

Chances are the biggest question on your mind: how much you need to set aside to start your freight brokerage. In fact, it varies, depending on your choices.

1. How many practice transitions and/or sales have you been involved with? 2. What do you feel are your strong points in providing transition/brokerage services? 3. What do you charge for appraisal and what do you include in your appraisal? Can I see a sample appraisal and listing document? 4. Is your appraisal contingent on signing a listing agreement? 5. How long do you estimate it will take to transition/sell my practice? (But remember never to get stuck on their initial estimate. They have no control over the market and the myriad factors that come into play over timing.) 6. How are you compensated? Does the fee increase if I sell the A/R? 7. Do you charge the buyer a fee for any reason? 8. Do you have any literature that will help me better understand the transition process and how I can better prepare myself for it? 9. Can you furnish a list of your five most recent sales and/or transitions of buyers and sellers? In

Indeed, the big brokerage firms tend to avoid standing out from the crowd, downgrading a stock only after its problems have become obvious. In October 2001, fifteen of the seventeen analysts following Enron still had a “buy” or “strong buy” recommendation on the stock even though it had already lost 50 percent of its value in the midst of the company’s accounting scandal.

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Inefficiency. A centralized financial system has many inefficiencies. Perhaps the most egregious example is the credit card interchange rate that causes consumers and small businesses to lose up to 3 percent of a transaction's value with every swipe due to the payment network oligopoly's pricing power. Remittance fees are 5–7 percent. Time is also wasted in the two days it takes to “settle” a stock transaction (officially transfer ownership). In the Internet age, this seems utterly implausible. Other inefficiencies include costly (and slow) transfer of funds, direct and indirect brokerage fees, lack of security, and the inability to conduct microtransactions, many of which are not obvious to users. In the current banking system, deposit interest rates remain very low and loan rates high because banks need to cover their brick-and-mortar costs. The insurance industry provides another example.

Consider the situation where the dentist examines his portfolio only upon receiving the monthly account from the brokerage house. As 67% of his months will be positive, he incurs only four pangs of pain per annum and eight uplifting experiences. This is the same dentist following the same strategy. Now consider the dentist looking at his performance only every year. Over the next 20 years that he is expected to live, he will experience 19 pleasant surprises for every unpleasant one!

I recalled one example, when First Boston had loaned $450 million—40 percent of its equity capital—to just one firm, Ohio Mattress, in a disastrous deal Wall Street wits had christened “the burning bed.” Profits at First Boston were so pathetic that the firm had to sell a stake in its derivatives business just to pay bonuses. Meanwhile, it was rumored that Allen Wheat, the firm’s new chief executive officer, had received compensation of $30 million, although reports later indicated his compensation was a mere $9 million. The firm had been tagged Wheat First Securities, a reference to a small-time, relatively impoverished brokerage firm. It was no surprise that top salesmen were fleeing in droves. I, too, wanted out.

You can open a Roth IRA account at almost any financial institution, from credit unions to discount brokerages such as Fidelity Investments, Charles Schwab, TD Ameritrade, and Vanguard.

I took this picture about a month ago when he invited me to an animal shelter event his brokerage was holding. Except both him and the pets have laser beams shooting out of their eyes and the heading above it says ‘Ryan Fuller, Hallowsdeep’s most untrustworthy realtor. Don’t trust him around your house or your pussy.’ The laser beams from the cat’s eyes are setting homes on fire in the background.

Finally, if you look at the wealth management business, you’ll find just about everyone chasing the same demographic segment: the high-net-worth individual. Not Edward Jones, one of the consistently most successful U.S. brokerage firms. For thirty years, it has focused on customers defined not by how much money they have, but on their attitude toward investing. Jones serves conservative investors who delegate financial decisions to a trusted advisor. In terms of the five forces, this customer segment has been less price sensitive and more loyal.

Charles Schwab created the company that bears his name—and a new category known as discount brokerage—around a different value chain. Not all customers want advice, so why should they have to pay for it? Take away all the activities needed to give advice, focus instead on executing trades, and you can create a different kind of value: low-cost trades that make stock ownership accessible to a wider customer base.

Those are just examples; my advice is to search for the lowest-cost Treasury options at whatever brokerage you have your money with. Just remember: With a mutual fund you never should pay any sales commission, called a load. And check whether your brokerage offers Treasury ETFs that you can buy and sell without paying a sales commission.

If someone blocks you, learn to accept that you are no longer a brokerage to him in his cultured life

Since the S&Ls were required to have $1 in capital for every $33 held in deposits, an appraisal that exceeded market value by $1 million could be used to pyramid $33 million in deposits from Wall Street brokerage houses. And the anticipated profits from those funds was one of the ways in which the S&Ls were supposed to recoup their losses without the government having to cough up the money—which it didn't have. In effect the government was saying: "We can't make good on our protection scheme, so go get the money yourself by putting the investors at risk. Not only will we back you up if you fail, we'll show you exactly how to do it.

retraced the familiar milestones with a sarcastic edge: “They dabbled in spiritualism, took up finance, and with the supposed aid of Commodore Vanderbilt founded a brokerage house in Broad Street, sponsored eugenics and equal rights, and generally impressed themselves on the public. Then they both went to England and married men with large fortunes.

We are fastidious investors. On average, we invest nearly 20 percent of our household realized income each year. Most of us invest at least 15 percent. Seventy-nine percent of us have at least one account with a brokerage company. But we make our own investment decisions.

Within two week’s time, he saved several trust companies and a leading brokerage house, bailed out New York City, and rescued the Stock Exchange.

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Had the action not been taken, more than half the brokerage houses on Wall Street might have gone belly-up.

All our financial situations had changed over the years. Mark’s bar, The Rusty Nail, was thriving. Aaron was computer engineering at a large company downtown, and as of recently, I had earned my brokerage license and opened my own real estate company. We could all afford our own places now, and each one would have been bigger than the eighteen-hundred-square-foot rental we shared. But there was something unbelievably comfortable about our arrangement that made us all stay.

Standard Oil of New York also made large loans to banks, brokerage houses, railroads, and steel companies.

We tend to judge wealth by what we see, because that’s the information we have in front of us. We can’t see people’s bank accounts or brokerage statements. So we rely on outward appearances to gauge financial success. Cars. Homes. Instagram photos. Modern capitalism makes helping people fake it until they make it a cherished industry. But the truth is that wealth is what you don’t see. Wealth is the nice cars not purchased. The diamonds not bought. The watches not worn, the clothes forgone and the first-class upgrade declined. Wealth is financial assets that haven’t yet been converted into the stuff you see.

front-page headline in The New York Times read “SEC Says Teenager Had After-School Hobby: Online Stock Fraud.” The fifteen-year-old New Jersey high school student collected $273,000 in eleven trades. He would first buy a block of stock in a thinly traded company, then flood Internet chat rooms with messages that, say, a $2 stock would be trading at $20 “very soon.” The text here was about as valuable as the message in a fortune cookie. Dr. EMH’s rational all-knowing investors promptly bid up the price, at which point young Mr. Lebed sold. He had opened his brokerage accounts in his father’s name. Lebed settled with the SEC, repaying $273,000 in profits plus $12,000 in interest. It’s not apparent from the stories that any of this money was used to compensate the defrauded investors, whose identity or degree of injury may in any case be impossible to determine. The father’s comment? “So they pick on a kid.

Australian Investment Education provide a unique and totally seamless integration from start to finish – with our education and support meshing with our easy to use and highly competitive brokerage facility. For our clients, this means that there are no gaps in their trading journey – making the AIE process one of the easiest ways to get started in the markets.We provide a start to finish, turn-key solution for everyday people who are either looking to invest or trade the stock market successfully, or looking for peace of mind and more control over their trading and investing.

Some smart people came up with the idea of the ETF ("exchange-traded fund"). An ETF trades just like a stock. You can buy or sell it all day long in your brokerage account. Each ETF represents a certain index. So the ETF for the S&P 500 trades under the ticker SPY. The ETF for the DJIA trades under the ticker DIA. And the ETF for the Nasdaq 100 trades under the ticker QQQ.