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To: zurdo who wrote (7414)2/10/1999 6:56:00 PM
From: Lynn  Read Replies (1) | Respond to of 27722
 
Zurdo,

I got my ML broker for the same reason you got yours at DW--it was the only way we could invest in stocks at the time.

My broker was fair until the mid-80s to 1987, when he started to churn me _and_ got me big-time into margin. I was very concerned margin was not the way to go, especially since I was a grad student at the time. He played down the risk, basically kept telling me, "ML this and that." Then the market crashed and I was faced with a wad of down stocks and a lot on margin. With no money to invest and no chance of my wanting to increase the amount invested with margin funds, the guy basically dumped me. About a week after the crash I called him to get MLs sense of the situation. I did not blame him for anything and did not get emotional (or mention how deeply into margin he had gotten me). He was cool and distant. I have never forgiven him. If my account was in a larger office, I would change brokers. I'm waiting for him to retire. Since my checking account is basically my ML account, I'm not closing it out.

I get angry just thinking of how that guy used me. The time I got up the courage to talk to him about the lack of communication we had about four years ago, he brushed me off, telling me how many clients he had, of which I was **merely** one. Yea, one who refuses to ever again buy anything on margin.

Lynn