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Was going to post in comparison thread , but a different question. Which stock would you buy ? Fido pays dividends twice a year & Chuck 4 times ! Fido looks to be at 5 year high, Chuck has room to grow or is it GO ! I didn't look deeper.
If I were looking in that direction, I'd have no qualms about dollar-cost-averaging into it. July 7: Charles Schwab upgraded to Outperform from Market Perform at Keefe Bruyette.
”July 7 - Charles Schwab upgraded to Outperform from Market Perform at Keefe Bruyette.”
From Bloomberg today:
“Charles Schwab Corp. shares suffered their biggest intraday drop since the depths of last year’s regional-bank crisis after the investing giant reported that fewer clients opened new brokerage accounts than analysts expected.”
You can buy SCHW for considerably less today than when the projection cited by @Crash was made. Assuming the projection (dated on a Sunday) was based on SCHW’s Friday, July 5 closing price of $73.20, the current price of around $68 is about 5% lower.
At 12:00 PM today: SCHW - 9% @ $68.23
As for the big brokerages … Their profitability is linked in part to the performance of the equity markets. A hot (frothy?) market like today’s causes their AUM to increase (and profits to rise) even if they attract no new money. In a deteriorating market AUMs decrease (absent any new money). If I wanted to hedge against a big market decline, brokerages wouldn’t be my first choice. Of course there will always be exceptions to the rule.
UPDATE: SCHW closed today down -10.18% at a price of $67.43. Best to ignore these gurus who “upgrade” and “downgrade” stocks for us bumpkins. Clearly Keefe Bruyette didn’t know what they were talking about. Not unusual either as these kind of stock guru grades go.
Comments
If I were looking in that direction, I'd have no qualms about dollar-cost-averaging into it.
July 7: Charles Schwab upgraded to Outperform from Market Perform at Keefe Bruyette.
https://en.wikipedia.org/wiki/Fidelity_Investments
She likely has her own wikipedia page if you can not get enough from what Catch shared.
Fidelity is private and Abigail Johnson is a major owner. Other owners are Fido employees and trusts.
“Charles Schwab Corp. shares suffered their biggest intraday drop since the depths of last year’s regional-bank crisis after the investing giant reported that fewer clients opened new brokerage accounts than analysts expected.”
You can buy SCHW for considerably less today than when the projection cited by @Crash was made. Assuming the projection (dated on a Sunday) was based on SCHW’s Friday, July 5 closing price of $73.20, the current price of around $68 is about 5% lower.
At 12:00 PM today: SCHW - 9% @ $68.23
As for the big brokerages … Their profitability is linked in part to the performance of the equity markets. A hot (frothy?) market like today’s causes their AUM to increase (and profits to rise) even if they attract no new money. In a deteriorating market AUMs decrease (absent any new money). If I wanted to hedge against a big market decline, brokerages wouldn’t be my first choice. Of course there will always be exceptions to the rule.
UPDATE: SCHW closed today down -10.18% at a price of $67.43. Best to ignore these gurus who “upgrade” and “downgrade” stocks for us bumpkins. Clearly Keefe Bruyette didn’t know what they were talking about. Not unusual either as these kind of stock guru grades go.