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Strategies & Market Trends : Point and Figure Charting
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To: wizzards wine who wrote (7746)9/24/1998 5:23:00 PM
From: james ball  Read Replies (1) of 34811
 
Thanks again for your response. It's a discussion that will continue to unfold. The net has changed our lives profoundly at DWA. It was only 1 1-2 years ago our primary vehicle to send charts to clients was throught download by computer program. I remember how we thought that was state of the art and it was at that time. Our net product has evolved to its current state in 1 1-2 years. I can't immagine where it will be 3 years from now. I expect to be approaching a total world product at that time. Any firm that does not take the net seriously, and I mean now, will find themselves rapidly falling behind. I can see an internet service desk coming at most wirehouses in the near future where brokers who have low production or low work ethic will be working. The pay will be salary not commission or fee. There will also be a great business for the broker who has a plan and understands how to make money for his clients. Education is the only way out for a broker in the years ahead. When a clients education level on investments equals that of his brokers, the only thing left to discuss is discount. I surmise that much of what merrill does today is already discounted a the branch level. I still see a bright future for brokers who are motivated, have high principles, high integrity and is well educated in understanding how to make money in equities. The investors who have made the real money in the last 10 years have made it in equities. Mutual funds come second but nothign beats buying 3000 shares of Lucent at $50 presplit or Microsoft 5 years ago. I think Merrill's article was misguided. Tom
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