No. of Recommendations: 7
The reason I opened an account with a deep discount online broker was because one year in the mid '90s I paid my full charge broker $50K in commissions while I barely broke even. With the deep discount broker I would have kept most of the $50K for myself.

Some people are just not cut out to manage money. In this case, they should not entrust it to a broker. Instead, subscribe to a newsletter that you trust and buy and sell as per their advice. Actually, you can open the account with a broker and instruct him to trade as per trusted newsletter.

Why is this good? Because you separate execution from decision making and the financial newsletter has to perform if they want a renewal. They don't live off commissions. The downside is that you probably don't learn anything from it.

Denny Schlesinger
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