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Politics : Ask Michael Burke

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To: Mama Bear who wrote (40914)	12/24/1998 12:38:00 PM
From: Knighty Tin	Read Replies (4) of 132070

Barb, Ameritrade, when it was Aufhauser, used to offer rebates to normal folks. Now, you do need a very large account with a full service broker to get the deal. But it has always been tough. Back in the 80s, one of the accounts in the hedge fund was $400,000. When I asked for a rebate, the broker dragged his feet. I had to threaten to pull the phone key on all the accounts to get it. I am lucky. My Asian partners are muckety-mucks for a brokerage firm and I get it on that basis for my income portfolio trades (not my IRA, but I can't short sell there anyway). I have noticed that my good will for having paid more commissions than any single person in the world during 1986 has grown stale with other brokerage firms. <G> What have I done for them lately? <G> It is a very tough sale to the brokerage firms, and seems to be more so every year. My only advice is to never sell short unless you get the rebate, as the prices are calculated with you receiving a 90% rebate. MB

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