Schwab Today: Buy, Hold Or Sell

About: The Charles Schwab Corporation (SCHW), Includes: AMTD
by: Joseph L. Shaefer
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Joseph L. Shaefer
Deep Value, long-term horizon, growth at reasonable price, special situations

Back on October 1st, Charles Schwab & Co. announced that it was cutting commissions to 0%.

The stock fell 15% over the next couple days. Its biggest competitor, TD Ameritrade, plunged 30%.

I began buying for many of my firm’s clients, purchased shares of both in my Investors Edge Marketplace portfolio, and suggested SA readers do their due diligence.

What I knew then that others clearly didn’t - and what I am doing today.

I was an insider in the brokerage industry for many years. I began my career at Kidder, Peabody - does anybody remember that far back? - as a retail and institutional broker. I chose Kidder