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From: lmiller@ucla-cs.UUCP
Newsgroups: net.invest
Subject: Re: Stockbroker selection, discount brokers.
Message-ID: <7824@ucla-cs.ARPA>
Date: Sun, 1-Dec-85 22:56:52 EST
Article-I.D.: ucla-cs.7824
Posted: Sun Dec  1 22:56:52 1985
Date-Received: Thu, 5-Dec-85 08:52:31 EST
References: <2267@amdahl.UUCP> <11094@ucbvax.BERKELEY.EDU> <7812@ucla-cs.ARPA>
Reply-To: lmiller@ucla-cs.UUCP (Dr. Lawrence Miller)
Distribution: net
Organization: UCLA Computer Science Department
Lines: 14

The discussion on problems with Schwab brings up a general problem with
brokers--you should assume that they are all incompetent.  I have had
substantial difficulties over the years with Dean Witter.  Late/slow buy
and sell execution.  Buys or sells attributed to other people's accounts,
slow or nonexistent monthly statements.  Bizarre margin rates.
Unexplainable "journal entries" of transfers of cash.  Slow crediting of
interest or dividends to account, etc.

I urge anyone dealing with a broker to examine all transactions closely;
shop for best margin rates; take personal deliverly of certificates on
cash sales, and be very, very careful with orders, credits and debits to
account.

L. Miller