Yesterday, I sent my third quarter performance and risk analysis report to clients of our portfolio management firm. I said:
Building upon your foundation of unfixed and fixed income, I continue to be opportunistic in purchasing shares of companies knocked down because people simply do not understand the nature of the underlying company’s business.
A good example of this came this week. Schwab (SCHW) opened down 6% and is now down 9.9% based upon its news that, effective Oct. 7, it will no longer charge commissions on stocks and ETFs. Much teeth gnashing