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<< My first reaction was, short EGRP and SCH before everyone else finds out about it.>>
My initial reaction also. I was surprised to see no news stories about their offering of $5 trades, since Brown/Chase would be a formidable deep-pockets competitor. I have a Brown account, which I never moved despite their lack, until now, of internet trading. I kept it solely because of their low margin rates, the lowest I have seen, below the brokers call rate. I also have an E-Trade account, and a Wit Capital account, and used to have Farsight and Fidelity too. Brown is clearly geared to more active, experienced traders, and I have had no complaints with them over the last several years.
Dennis |
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