5.9 C
New York
Friday, March 29, 2024

Comment by Phil

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  1. Phil

    Fan – That is some scary stuff! Don’t forget C competes with ETFC for those deposits so it is no surprise they would raise the safety issue as they angle to capture some of those $15Bn in deposits. I think the concerns are valid but, as it says right in the report: “investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this report.”

    If ETrade, or any of them go, we can short that group (small brokers) with abandon. Anyone with substantial amounts of cash in a brokerage account needs to have a conversation with their broker about what guarantees there are for their deposits and spreading your cash out is always a good idea.

    The Citi analysts, as usual, display their idiocy by calling SCHW a buy while rating ETFC a sell as there is nothing that will happen to ETFC that won’t happen to SCHW 30 days later if their premise is true. The same goes for AMTD.



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