I saw a statement on CNBC something like this "Broker: Clients have lost confidence in the markets". I think another statement was "Flash crash remembered". I think investors and clients want to sell their shares/stocks because of uncertain future but brokers are stopping them.
Member: I know my broker sure tried to stop me. He has had me in some good yeilding funds that have recovered most of my losses. I told him I wanted to sell everything, he said he thought there was quite a bit left in this run, I said I don't trust the market any more. He said, do what you want but don't blame me.
1) 1-5. 2) OMMFG!.....you were actually talking to a "human" broker? :eek: 3) Tell the broker to indicate "unsolicited sell" on the brokerage ticket.
Buy and hold/hope broker = your typical full service shop/wirehouse. They get paid commissions when you buy and as you hold, ie buy and hold. So if you buy a mutual fund , they will get paid something up-front normally and then an ongoing fee paid monthly for as long as you own the fund - regardless of performance. Once you sell, that easy gravy train stops till they find a new train to put you on. Some of you guys really need to learn what life is like outside trading.
Of course they don't want you to sell, that is unless they have a plan to put you into something else Also, those who make a percentage of your assets want you to stay in. The easy money has been made in stocks, and it wasn't easy. Another 10 percent higher aint worth it to me and I'm slowly selling.
The thread should refer to mutual fund brokers. No one discourages me from selling. I just press the sell button. The transaction occurs lickity split. Piece of cake.