Skip to content
Andrew Tobias
Andrew Tobias

Money and Other Subjects

  • Home
  • Books
  • Videos
  • Bio
  • Archives
  • Links
  • Me-Mail
Andrew Tobias
Andrew Tobias

Money and Other Subjects

Big-Time Research

April 21, 1998February 5, 2017

From Hal Felman: “Your column was right on about what the little guy gets from the brokerage house. A couple of years ago I was persuaded to switch my account from a discount house to a larger New York brokerage when my account exec moved from the discount brokerage to the new firm. I was promised great results based on the superior research at the new firm for which (I was told) large institutions paid big bucks. I questioned the research I would get for free when somebody else was paying huge sums for it. I can’t remember how I was convinced, but I fell for it. Without going into details, I was given recommendations to buy or sell six or seven stocks, not all of which I followed. Of three I bought, I am still in the hole despite the rising market. Two I was told to buy, but didn’t, have gone South. The recommendation to sell, which I didn’t follow, has gone up another 10 points. So much for ‘advice’ from brokers.”

Hal is being too harsh! In my experience, brokers are right about half the time. And they give you someone to blame when you do badly.

Isn’t that worth paying five or ten times as much commission?

 

Post navigation

← Anagrams
More Car Talk →

Quote of the Day

"The road to success is always under construction."

Winston Churchill

Subscribe

 Advice

The Only Investment Guide You'll Ever Need

"So full of tips and angles that only a booby or a billionaire could not benefit." -- The New York Times

Help

MYM Emergency?

Too Much Junk?

Tax Questions?

Ask Less

Recent Posts

  • Putting Women Back Where They Belong; Voting At 16

    July 18, 2025
  • What The CIA Has Concluded

    July 16, 2025
  • "Inigo Montoya" On Netanyahu

    July 16, 2025
  • Carl's View

    July 15, 2025
  • Jesus! A (Surprisingly) Revealing Conversation With DNC Chair Ken Martin

    July 14, 2025
  • Two Things You Can Never Be

    July 11, 2025
  • Anyone? Anyone?

    July 11, 2025
  • "PAPERS PLEASE" -- Trump's Very Own Gigantic Police Force

    July 9, 2025
  • 5 Links And A Joke Walk Into A Bar

    July 8, 2025
  • There WAS No Cherry Tree

    July 7, 2025
Andrew Tobias Books
  • Facebook
  • Twitter
©2025 Andrew Tobias - All Rights Reserved | Website: Whirled Pixels | Author Photo: Tony Adams