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Non-Tech : Figure the True Commission

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To: Richard James who wrote ()	5/2/1999 5:47:00 AM
From: Richard James	of 6

I am beginning to think that the $20 trade is by far the least expensive, when you consider that a discount broker, such as DLJ-direct offers a sweep account which might not be offered by a deep discounter, such as a SureTrade or a Datek. This may not mean much if your funds are fully invested, but it can make a great deal of difference if a substantially amount is kept in cash. Ask youself just how much you are saving by $10 trades if you are losing hundreds or more that could have been invested in a Cash Management Account (a sweep account)with a slightly higher rate of return. Correct me if I am wrong, but I believe that ST and Datek are paying interest on cash balances well below money market rates, which is one of the reasons I am looking at DLJ and even Fidelity.

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