Charles Schwab in talks to buy TD Ameritrade, a deal could be announced as early as today, source says
cnbc.com/2019/11/21/charles-schwab-in-talks-t...
cnbc.comPosted Nov 21, 2019, 10:55 AM UTC
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cnbc.comReal power move on Schwab to buy TD. Schwab 1st announced free commissions trading and then TD followed. It was a trap from the beginning to lower TD's valuation!
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7D underwater Chinese checkers.
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[deleted]
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Dam Charles Schwab with the 200 IQ 4D chess moves here. TD got fucking played af.
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God this is just too smart. Now that they control enough assets they can change the other fees again.
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Exactly!
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SchinkOrSchwim
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unexpected sean connery
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very nice, how much?
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This sounds like a good thing, but feels like a bad thing. Idk why. How do I short my feels rn?
Watch them all go back to adding commissions...
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Step 1: Buy all competitors
Step 2: ????
Step 3: Profit by bringing back commissions.
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Levine did a good wrote up on this today. Basically step 1 was moving to no commissions which cost TD 25% of their market cap.
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Watch them all go back to adding commissions...
I was thinking the same thing...
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The mistake was getting rid of commission, but the cat is out of the bag. TD must be unloading their US assets ATH. They are going to creep out with bags of money to buy more banks in 2020 or 2021 for stupid cheap after the crash.
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commissions were only a few percent of schwab's income, and had been declining every year. it wasn't a mistake
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Except for the fact that commissions have consistently been reduced since at least the 1970s...and pretty much every industry leader has been predicting eventual zeroing of commissions...
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You know the markets cost money to operate,so they charge for access. The commission brokerages charge maybe go down based on volume, but down and free are two different things.
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We need to protect Robinhood. Stay loyal. Our meme engine needs fuel to run.
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Why the fuck would they do that? The other brokers they’re not buying also went to $0, you really think they’d commit suicide?
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Nah Schwab just routes your trade for $ - they made 400$ Mil giving us not the best price last year
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Yeah. My experience the best fills have been at TD and E*trade. Now TD is at Schwab.... TD users are the losers here.
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It is good when schwab share price rises and before they actually acquire TDA. It is bad when they actually acquire TDA.
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When there is no competitive advantage to be at zero...
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Holy Jesus the stock is up 25%. ToS is in shambles. TDAmeritrade is now a boomer brokerage.
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What's wrong with ToS?
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Schwab has a strong platform already so the fear is ToS won't be continued or it will be tweaked by Schwab.
Edit: Not sure why the downvotes? ToS is good but it isn't like Schwab doesn't also have a good options platform.
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[deleted]
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Margin for options is on Robinhood ;)
I have never used margin in my options trading. Seems a bit much to me. When I blow a trade I don't want the emails and calls from the margin dept.
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I had AMTD calls expired last week. I was close, but wrong!
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Hoping schwab integrates ToS into their platform and trashes streetsmart, I'd be pretty happy
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This Charles is my bank and would love the ease of transferring funds from my brokerage to my bank and getting it instantly
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I use schwab for my brokerage accounts and checking but have a TD account for ToS access. Only reason I never switched was the hassle and I actually like schwab even though their platform is garbage in some areas... So here's hoping
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Man fuck this.
I do not want to use shitty ass tasty or some other shit. I really like ToS.
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Bought the dip but got out too early. Truly autistic.
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I bought the dip when they said they were going no commission and just sold at pre market today.
Called my mom and told her the doctors might be wrong, I might not be autistic
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You and me both. sold Friday
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Bro don’t worry about it keep it up and don’t be retarded and you can build decent portfolio before you know it.
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#SO MAX MY LEVERAGE OUT ON TD?
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Do it
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Welcome to Schwab my TD autists. Come on in, the ATM reimbursements worldwide are lovely.
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Mfw I've had world wide ATM reimbursements for the past decade
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surprisedpikachu.jpg
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supriseddickupmytightassface.jpg
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Fidelity!
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Bruh if you trade you are getting ripped
Mr. Charles routes your trades for $ - they made 400$ Mil giving peeps not the best price on trades
Others don’t do this - price improvement yo
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Bruh, I don't give a fuck about pennies.
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Guess you are trading pennies boi
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^^^^doesn't know how NBBO works
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Obviously you don’t. Yes that exists - is it reality?
They make 100s of millions annually for order flow that they don’t pass back to the customer
Other firms do
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fuck is this bad? i just opened a TD ameritrade account
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Yes, they take all of your money because you were too late. Im sorry.
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damn it I should have stuck to Robinhood atleast they have infinite leverage.
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This is really bad for our city (Omaha, NE). I have a lot of friends at TD (not traders you losers) and while we just put up a major new green building in the middle of town I can see layoffs coming.
Like people have said if they shut off ToS there goes all the middle classers supporting that and IT people. Why would they need another trading office/call center in the heart of Omaha? The whole reason TD exists here because it was started here.
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Gotta be closer to Buffet, the Ultimate Boomer for Schwab.
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Yah, everything will be moving to Dallas...Schwab just built a huge campus there
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Now this is a story all about how
My tendies got flipped turned upside down
And I'd like to take a minute, just sit right there
I'll tell you the story of my Scottrade account.
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I don't use tos myself but I can see why people do. Hope they don't mess with it.
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What do you use in place of ToS? Just curious.
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[deleted]
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Zero Hedge reporting already a deal for 26b.
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:(
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JFC i sold both of these two weeks ago after buying their dip
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Didn't they just buy USAA's Wealth Management ?
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Huh. I feel like this could get crappy for tda/tos users
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If they take away thinkorswim I’m gone.
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WHAT
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If these fucks take away ThinkOrSwim from me I go back to just randomly buying options by helicoptering my penis around my iPhone screen until I’ve managed to place an order and get filled. Nobody wants that
EDIT: thanks for the Pride award kind stranger, hmu on grind’r to make sweet fuk
Schwab would be ultimate big brain if they fucked with TOS in any way. It's literally the best trading platform on the market for retail traders, if they replaced it with their shitty StreetSmarts platform I would immediately close all of my TDA accounts and move over to Tastyworks or some shit. I imagine practically everyone else would do the same thing.
You and everyone else. thinkorswim is the only reason TDA even exists still; that and perhaps their ridiculously low standards for margin and tier III options approval.
I liked the charting, but I love the low standards
I like my girls like td , have low standards
Otherwise I get no sex :(
How much better is TOS than Fidelity’s Active Trader Pro?
I've used both, but I think TOS is world class and way ahead of everyone else. Outside of a Bloomberg terminal, TOS is practically perfect in every regards. The only downside I have with TDA was their commissions, but I've negotiated them down many times over the past couple of years.
And now they dropped all commissions except .65 per leg for everyone
its so freakin powerful. I find new features everyday. The customer service chat is incredible and they are super smart. They also answer instantly within 5 min.
Or just switch to tastyworks I think the same guys developed both
Edit: unless you want to swing your dick around though no shame in it
mhmm dick
Tasty doesn't have the charting of ToS
Word? I guess that’s a bummer then. Thanks for the info. Haven’t used ToS myself.
Hell yea. This is just mobile, their desktop is even sexier
https://imgur.com/a/awMifqc
https://imgur.com/a/0Q49v7n
they wont take away ThinkOrSwim, they'll properly throw StreetSmartEdge in the trash.
If they take away ToS I am done trading. I can’t go back to robinhood after tasting TOS.
I am sure Robinhood wouldn't mind?
lmaoooo
I’m not wholly against that idea
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The fact alone that TD doesn't fuck up option trades or executions is a pretty big one.
ThinkOrSwim I can usually get filled at midpoint, Robinhood I almost always have to bid 1 above or ask 1 below midpoint, that’s a dollar difference per fill, so I think just based on better fills I’ve gotten from ToS I’ve more than made up those fees
EDIT: not to mention the countless charting, analysis, news, scanning tools, etc. on ToS
Serious. That piece of shit Schwab is greedy!