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  • Writer's pictureJulie Skye

If You Listen to Chuck...

Updated: Oct 9, 2019

Charles Schwab is now a legend in the investment industry and two big things came out from Chuck Schwab this week. One, is Chuck's thoughts on Unicorns...those billion dollar, often tech company initial public offerings, IPOs, that have no earnings...and no real path to having earnings. Still, investors snap them up with they hit the market...Uber, Slack, Beyond Meat. I get lots of calls about how to buy into these little jewels, but this year has been the worst for IPS since 1995.

Hear Chuck on why he would never buy the money-losing companies that are going public these days:

Chuck also explained the announcement that their move to $0 commisions was an ultimate goal for the firm.

I have a great deal of respect for Chuck: back during my Patterson Icenogle years from 1990-1998, I was an early adopter when I set up my first Registered Investment Advisory firm to provide consolidated statements to clients and cut the sales loads and other costs investors paid to buy mutual funds. BUT, and this is a big have to ask is Schwab making money if it is NOT from buying and selling stocks for you? Hmmm. I'll let you ponder.

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