Bonnie, I read some time ago that some $10T is going to be inherited by the baby boomers over the next decade or so. I'm will to bet that, unlike their parents (I'm generalizing of course), they are not going to be "investing" in CD's. In addition, it is no secret that the "big boys" are gobbling up the regional brokerage houses at steadily increasing prices. So, yup, I believe brokerages is one of the future themes.
As a tax accountant, I don't particularly favor mutual funds due to most of them being extremely tax inefficient. However, Fidelity Sel Brokerage is one of the few mutual funds that achieves what I call the Power of Wow funds. That is, it is one of the 22 (as of 9/97) out of some 8,000 funds that beat the index over 1, 3, 5, and 10 years. It also has a very respectable turnover ratio and modest capital gains exposure.
That said, having watched you time your purchase of JEF very nicely, I think you can do as well. It's the concept that's important. As I think I previously indicated to you, I would also take a look at BSC and RJF. Then as Bill is so fond of saying -- BWDIK.
Berney |
