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To: Seth Leyton who wrote (7309)	2/26/1998 11:10:00 AM
From: Dee Jay	Respond to of 42804

"If you traded on line with a commission of $8 how would that support your conclusion? Commissions once were the right of brokers because they were a neccessary part of the equation. Now they are a commodity item like gasoline..." You may find this hard to believe, Seth, but Smith Barney, et al still have thousands of RETAIL offices throughout the country. Not all individual investors (how about a fraction?) go online and many that do still use retail brokers. Have you read about the bonuses handed out annually? A portion of that comes from retail commissions. Commissions are everything - ask Michael Milken. We who inhabit SI are in the minority; even with the near ubiquity of PCs in households (middle class and up) online trading stillis a smaller percentage than the traditional. Sure commissions aren't what they used to be and trending lower yet, but with the huge volumes AND the effects of churning caused by emotional responses, commissions are being racked up. Lastly, commissions can be lower but still high volume simply due to greater efficiencies in processing orders, etc. Brokers don't make money telling their customers to invest now and hold; that's not where the volume comes from, and volume = commission growth.

To: Seth Leyton who wrote (7309)	2/26/1998 11:11:00 AM
From: Grommit	Respond to of 42804

Commissions are more than just what your statement says. Part of the spread is also commission.

To: Seth Leyton who wrote (7309)	2/26/1998 11:05:00 PM
From: Stu Bishop	Read Replies (1) \| Respond to of 42804

Seth, re: " Of course, if you scratch your car or rip out the fuel stem...there is no one to blame but yourself. " I once worked at a gas station one summer when I was 15. That summer, I remember pouring some engine fluid into the wrong receptor (maybe oil into the power steering, or something like that) and I remember someone trying to pull away while the fuel nozzle was still in the tank. The tank spout was broken loose from the tank. That was full service! You don't have to go self serve to get screwed. And I was making honest mistakes, no malice intended. Best of luck. Stu B