Thursday, October 8, 1998

10 Reasons Internet Trading is a Threat
by Michael Rasmussen ([email protected])

Top 10 Reasons why "The do-it-yourself model of investing, centered on Internet trading, should be regarded as a serious threat to Americans' financial lives."

10. What's next? Do-it-yourself retirement planning?

9. The yacht industry is imperiled and requires its continued support from Wall Street brokers.

8. Mutual funds have enough problems without a level playing field for trading costs.

7. Spare cash may lead consumers to engage in unhealthy activities, like buying lottery tickets.

6. The market doesn't need all that rabble starting brokerage accounts with paltry sums like $2,000.

5. Unemployment is finally under control. Do you want to upset things by putting full-service brokers out on the street?

4. Contraction in sales field leads to more used car dealers.

3. Successful individual investing may lead to early retirement, resulting in a direct loss of income from wages.

2. Online trading is the first step toward hard Internet usage and eventual addiction.

And the No. 1 reason why "The do-it-yourself model of investing, centered on Internet trading, should be regarded as a serious threat to Americans' financial lives:"

If individual investors don't spend their money at Merrill Lynch, who'll be there to fund the next hedge fund disaster and bailout?

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