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SWS Group, Inc. Message Board

  • SoMuchMissChif SoMuchMissChif Apr 22, 1999 12:39 PM Flag


    Thanks for the definition...and correction, Tats_word.

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    • We had a discussion of the 30 day wash rule on
      this board last week. I am afraid that people came
      away from the discussion with a misunderstanding of
      the 30 day wash rule.

      In essence, the 30 day
      wash rule states that an investor does NOT lose any
      tax advantage if he buys (within 30 days) a stock
      that he has sold for the capital loss.

      Investors might need to be extra aware of the 30 day wash
      rule if they sell a stock for a loss in December. If
      you again buy the stock in January, then the tax loss
      of the December sale shifts to the next tax year. I
      am being general here. There are more nuances and

      The 30 day wash rule does cause a rearrangement of
      the declaration of a capital gain/loss. Read page 48
      of IRS publication 550 for details.

      Look at
      this site for the corresponding IRS

      Also, reference post 2120 on this message board for an
      example of the 30 day wash rule.

      In summary:
      NOT fear buying any stock because you have recently
      sold the stock for a loss. But be aware if the stock
      was sold in December.

    • but I didn't have any problems opening an account with PBS, now known as Dreyfus.I'm just concern that they are taking away business this way - just my opinion.

    • its your tip of the day

    • Is a good idea and prudent business. Do you have
      any idea if the other OLB have any bad debt exposure
      by allowing someone to trade without real money.
      Somebody could run up a big bill in a week to 10 days
      waiting for the check to clear if it comes. I think SWS
      should be commended for imposing reasonable fiscal

    • The " 10 days " is only for new clients that want
      to open a new account and are trying to do that with
      a personal check.......
      If you dont like to
      wait the 10 days is easy.....
      a) Send a MONEY
      b) Send a BANK CHECK
      c) or better---- a WIRE

    • They mentioned it but does anyone know what it
      does? If this has to do with Online trading, why wait
      for it to complete since SWS online's business is
      working. If they are waiting for CSS to complete and
      losing customers to other OLBs then they are doing this
      the wrong way. Look at EGRP and SCH when they had all
      those down time where clients weren't able to trade,
      didn't matter cuz they still made a bundle of cash this
      quarter and clients still stuck to them. SO why wait for
      CSS and use what they have now? If more clients join,
      then that's ok cuz CSS would be complete by then. They
      don't have enough clients for Online trading to cause
      an outage right now.

      Also as I mentioned,
      they need to do some kind of stock split to make this
      more attractive. When I opened an account with SWS, I
      had to wait ten days before I can start trading cuz
      they are waiting for the check to clear. This is wrong
      and other OLBs would let you trade once the
      application and check is in. Cuz if you burn them, they got
      your ssn and all pertinent info to go after you. But
      SWS wants to play it safe, and in doing so you are
      pissing clients to go elsewhere and that how I felt. Why
      would I want to trade with them when I can get JBOH to
      open one right away and get the 1st ten trades for

      I believe in the company but they need to be a
      little more aggressive and take chances. If you can't
      trust the clients and have to wait for the check to
      clear in ten days, well you just lost him to some other
      OLBs. And many would love to take your business.

    • earnings drive the market sws earnings will get the share price up plus some notice about online brokerage

    • with SWS is being a part owner, aka a shareholder. I make it a point to do as much DD as possible on all of my investments.

    • SWS is very profitable with huge assets no
      doubt,however,they do not really qualitify as a major player in the
      OLB arena. They have about 5000 online accounts vs.
      Schwab of 2.5 million online acconnts,or NDB 600k. There
      are plenty of traditional brokers with very low PE
      that are highly profitable but trading at a discount,i
      hope SWS can sign up more accounts on their online
      brokerage business,I for one am transfering my account to
      SWS,and hope you all can do the same.

    • I read somewhere that the CEO of AMTD was
      thinking about a secondary offering. He was asked if he
      should some NITE like EGRP did. His answer was NO WAY
      that he would rather Borrow the money than sell

      This people know what they're doing. Selling Nite is
      not what the are doing.

      As soon as SWS
      announces that they sold their Nite, then i am gone. Profit
      taking in NITE would be OK with me(about 10% or

      NITE is a goldmine out there.

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