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Subject:  Re: Retirement brokerage account Date:  9/24/2001  3:19 PM
Author:  Crosenfield Number:  31969 of 78166

Your broker can call you up and suggest any investment consistent with the information you gave when you set up your account, or maybe subsequently changed, concerning whether your objective be preservation of capital, income, growth, or speculation.
To give a broker "discretion" over your account, in which he makes whatever trades he wishes without consulting you, is a blank check. Usually it results in a lot of buying and selling that can generate huge commissions and dissapate your capital in a short period. This has