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Ameritrade Buying Datek
from the consolidation dept
For years, honestly, I could never really tell the difference between any one of the 250 or so online stock trading sites. So, it's really not a surprise that they're starting to consolidate. The latest is that Ameritrade is buying Datek. They say that, combined, they're "almost" as big as E*Trade (to which I could easily respond with the "horseshoes and hand grenades" argument, but that seems petty). I would imagine that we'll end up seeing a bit more consolidation in this space, before this is all worked out.
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i dont agree. maybe you dont understand the cliche ? The "close only matters in.." cliche doesnt apply here. It would only apply if only the largest brokerage was allowed to operate, or something.....
Being 2nd doesnt mean you dont exist in this case, so its fine.
it applies in all or nothing situations, like landing a man on the moon, or being elected president
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