Bob:
I'm a Schwab 500 customer, and was finally notified by Schwab on Saturday at 1:30 p.m. that I got 100 shares. I think Schwab Select requires $500k in assets, and Priority Gold requires $1M - I don't meet either of these. :-( But I do make about 50 trades per year, thus generating about $1500 per year in commissions for them. Guess this is enough for them to give me consideration for IPOs.
I'm kind of neutral on Schwab's IPO performance thus far. I got in on two of the three IPOs I wanted (Select Comfort and Allaire, but not InfoSpace), so I'm pleased about that. However, the wait times for an IPO specialist are horrendous - usually 30 minutes or more in my experience. I can't complain about the performance of Select Comfort (up 60+%) or Allaire (>100%) thus far, and will probably continue buying up the IPOs Schwab offers until I get burned on a loser. I just wish Schwab would do something about the horrible phone time (how about putting in an IPO order via the Web, like I do all my other trading?).
Adam |
