Financial Services Industry
Industry: Email Alert RSS FeedSchwab hot on cash.(Short Interests)
Investment News, August, 2006
Byline: Brooke Southall SAN FRANCISCO - The world's biggest online stockbroker seems to have a new affinity for cash. Investors "might consider some strategic pruning'' Liz Ann Sonders, New York-based chief investment strategist with Charles Schwab Corp., said in a statement this month.
Indeed, "investors are looking at cash ... as a diversifying investment, not just as a parking spot while they investigate other options,'' added Charles R. "Chuck'' Schwab, chairman and chief executive of the San Francisco-based broker, which has more than $1 trillion in assets. Assets in certificates of deposit purchased through Schwab's CD OneSource, the company's no-transaction-fee platform, jumped to $12.7 billion for the one-year period ended June 30,...
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