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Non-Tech : NDB is a bucket shop!!
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To: Frank Badini who wrote ()8/21/1996 11:23:00 PM
From: seth goldman   of 27
 
Frank,
Sorry to hear about your bad experience at NDB. Since I have been on line it seems to me most individuals don't like full service brokers. I am a full service broker. Discount firms in my opinion don't represent any real discount. Most of my clients make their real money being a doctor, lawyer, or whatever and will pay me to recommend, watch, and keep track of their investments. If you trade everyday how can you use a discount broker. First you have to be online with real time quotes, and situations change very quickly. Don't you want someone to call you if a situation comes about. Do most people have time to stare at the screen all day and do their job? If you trade volume why don't you make a deal with a full service broker. I think it's worth looking into.
Retail investors should think about this: how can a discount shop only charge me $50 or so a trade. Why does a firm charge no commisions for stocks they recommend. Sherwood is one of the biggest otc trading firms on the street. If they can capture the spread they make a hell of a lot more than $50. Frank they can also trade NYSE stocks over the counter. My prediction is discount firms will consolidate. The OTC is changing so fast. The new manning rule will make trading very difficult for these guys.
Good luck -hope your experiences turnout for the better.

SG
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