HOW MUCH MONEY IS YOUR GOAL??? Message Board

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Strategies & Market Trends : HOW MUCH MONEY IS YOUR GOAL???

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To: Ann Janssen who wrote (409)	5/22/1997 6:42:00 PM
From: Frank Ellis Morris	of 470

Ann, Sorry to learn of you Air conditioner breaking down especially in 93 degree weather. .The question regarding converting fractions to decimals. Proponents of decimal pricing insist it's time to abandon the traditional system of quoting prices in one-eighth increments, which, they say, fills brokers' pockets at the expense of consumers. Supporters say adopting the new system would narrow the difference between a stock's best bid and asking prices, known as the spread. Spreads typically vary from 12.5 cents to 50 cents, an amount that adds up to a sizable profit for brokers, who usually mark up stock prices before selling them to investors. But stock exchanges and the securities industry have resisted the change, saying it would be prohibitively expensive because of the new technology required. IT does not conern me that the brokers are making a few pennnies or dollars from the spreads as I only focus how much of a profit I made on the stock from the time I purchase it to the time I sell it. Best Wishes, Frank

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