SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : INTEL TRADER -- Ignore unavailable to you. Want to Upgrade?

To: Trading Machine who wrote (5439)2/9/1999 2:16:00 PM
From: MonsieurGonzo  Read Replies (3) | Respond to of 11051
 
Pricey; RE:" IRA churning "

>It is beyond me why a broker wouldn't allow multiple trades out of the same pot of money in the same day. If anyone out there can shed some light on this I would really like to know what the rationale is.

Berney is a responsible MM who is using low commissions to move large lots (stocks; long, no margin) in and out of stocks, usually within the T+3 window. His clients have given him permission to do this. Berney does not make any $ on commissions or the frequency of transactions.

But many MM's, C.F.A.'s and brokers do, and it is an old scourge called "churning" the accounts - to generate fee income for the manager. As a result of this history broker-dealers often monitor turnover rates, especially in large retirement/pension accounts that have just sat moribund for years, to look for "churning" abuses.

-Steve



To: Trading Machine who wrote (5439)2/9/1999 4:57:00 PM
From: smolejv@gmx.net  Respond to of 11051
 
The way I read the broker situation is that the brokers are just PINING for a plain-vanilla customers. All the rest is a disturbance to their risk/portfolio/after-lunch-slumber management systems.

Well, we're no plain vanilla customers - at least the paying rates indicate this to me. But what we get is plain-vanilla brokers. I guess not for long. We just have to keep looking I guess

dj


HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News