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|Subject: Re: A Disgruntled (now former) Customer||Date: 7/28/2005 3:21 PM|
|Author: starvingactor||Number: 4934 of 4956|
Hi Starvingartist :) A couple of points on your post: 1) The name Turkey is a pet name from my wife and not a derogatory term. The DR is because I'm a physician. 2) I'm pretty new to posting on these boards with this being my sixth post so I may not be aware of all rules of etiquette in posting. 3) In addition to my Fidelity IRA account, I also have a taxable account at Buy & Hold which I opened in July 2002.
4) I have never tried to do this, so I was not aware that you could transfer an entire portfolio intact from one brokerage account to another. I thought that you had to sell all the stocks and transfer just the money. My comments on this were based on my lack of knowledge. 5) My intention was not to be critical of your post and I certainly did not mean to impugn your intelligence. I was just trying to give a different perspective to other readers. 6) Friends ?? :) :) DRTURKEY
Hey, Dr. T -
1st, yeah, I was trying to joke about the Turkey thing. Adding a bit of lightheartedness...but it didn't quite come out that way. Didn't mean for it to be derogatory - I'm usually a pleasant guy, and to me the joke was that I don't usually go around calling people names, especially when I disagree with them.
(But then I guess you have to know me for that one.) :)
2nd, yes, you can transfer a whole account from one brokerage to another...but it will always cost a bit (if nothing else, a transfer fee is pretty much standard). I've had to do it a few times - first when I realized that Charles Schwab's commissions were ridiculously high for an investor with a portfolio the size of mine, and second because TD Waterhouse began implementing yearly fees which again would have shifted the cost percentage of my portfolio to higher than I wanted it to be.
(But incidentally, each time you decide to transfer it turns out to be a much more cumbersome process than it seemed to begin with.)
3rd, I should apologize for the 'brain-dump' post that came off as very harsh (upon re-reading). I myself am not an 'old-school' investor, having just gotten into this bag right around the internet boom. So we're probably close to being on the same page, here.
I was probably reacting more to a number of responses that I've received lately to some of my other posts on other boards - where someone automatically assumes you don't know what you're talking about, simply because you ask a question to help clarify something. It gets awfully frustrating after a while, for example, when people assume you're in it just to make a quick buck just because you ask if they think the stock in question has hit its bottom, or if it has a lot further to go. To me, a question like that could say, "Hey - I want to hold onto this for at least 10 years, but I'm tired of buying stocks and watching them shed 10% of value in the near term." To others, it seems to say, "Hey - I want to jump into this on its way up, and sell it at the top."
Or at least I guess that's what they interpret. Why else would they then take the time to post a detailed (and derogatory) lecture of Buy-and-hold investing philosophy (instead of just answering the question)?
Regardless, I kinda took it out on you. My bad. Didn't mean to be "that guy."
Thanks for the follow-up. :)
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