Someone from my local E*Trade office cold-called just now, saying I had bonds coming due, and he wanted to know if I needed guidance. I was tempted to lash out. But I held my tongue, and he went on to explain that E*Trade’s ‘fixed-income specialists’ in their New York and other East coast offices were now going be available to all customers directly, rather than just by referral. Again, I was ready to hang up on him. But I held myself in check as he went on to explain that working with them would give me access to a greater depth of information.“Better than the Moody reports already provided?”“Yes, much, much more.” So I agreed for him forward my contact info. We’ll see what happens, and if better info does become available through this channel, I’ll pass on word of it. Now, we come to the subject line of this post. Why is a brokerage firm reaching out to its customers, obviously soliciting business, when stocks and bonds are at their time highs, and it has become nearly impossible to put new money to work responsibly? What is it about 'over-priced, over-bought, over-supplied' that do these guys do not understand, of which Apple’s bonds are only one example? Market top? Getting close. Charlie
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