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Non-Tech : E*Trade (NYSE:ET) -- Ignore unavailable to you. Want to Upgrade?

To: Jerry Miller who wrote (6268)	4/27/1999 8:15:00 AM
From: ecommerceman	Respond to of 13953

Here's another good article from today's Wall St. Journal about what the major Wall Street firms are doing to counteract the incredible growth of on-line brokers: interactive.wsj.com It's no surprise that even the Wall St. dinosaurs have finally awakened to the fact that on-line brokers are stealing their lunch, particularly after the last quarter!! It seems to me that these moves are good for them, as far as they go, but I don't think they go far enough (and they really can't go any farther or they will lose their brokers). On-line trading is fun, so this will give their customers that aspect of our experience, but on-line trading is also cheap, and yearly fees of several thousand dollars (depending on the size of the account) is pretty damn expensive. Plus, their advice isn't all that good. I have a friend of mine who is a broker for Salomon who told me to buy Compaq when it was $31, based upon the research geniuses at Salomon, and it fell by a 1/3 within a couple weeks of his advice... Jerry--thanks for noticing. I was away on work, and couldn't get to a computer very easily. drove me crazy...