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Technology Stocks : Sportsline (SPLN)
SPLN 2.0000.0%Jan 21 4:00 PM EST
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To: James Fulop who wrote (560)3/12/1999 6:10:00 PM
From: B. A. Marlow  Read Replies (1) of 858
 
(O-T) Don't have to, James.

And hang on to your hat: Use a full-service broker (PanicWebber)! I call the shots, broker works the trades. Don't have to sit in front of a trading screen all day, don't have to create a zillion cancel-and-replace limit orders.

Trade a lot of options, too. Can't get precision account or trading data online. ("What's it costing in maintenance to carry this put position?" "What's our year-to-date interest charged vs. dividends received?" "Which options exchange has the best market for these calls?") Know any online brokers who can handle this stuff?

Nothing wrong with trading online, but there can be advantages to a full-service broker. Complex online account data not ready for real-time. Connections and Web sites not always reliable. Online customer service depersonalized and vaguely disappointing.

If you know what you're doing and you have a truly good full-service broker (trained mine), a good case can still be made for this approach. Commissions, margin interest and other terms are negotiable, "unmarginable Internet stocks" can be margined, great executions can more than offset higher trading costs. Free goodies all over the place.

What you *don't* want from a full-service broker is...advice. (Put my broker into SPLN for his own account!)

BAM
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