NW-Bound
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jul 3, 2008
- Messages
- 35,712
I am guessing here that because Vanguard does not cater to the active investors, they do not usually have this volume of trading. Hence, their computers got swamped.Audrey - if is was 1995, I could excuse the lack of connectivity and failure to be able to execute - BUT, it isn't - it's time for the financial institutions to work as well for us as it does for the big traders.
On the other hand, one of my brothers who used to be in IT of Schwab said that if their computer conked out on a day like this, heads would be rolling.
Brokerages like Schwab make money on trading volumes, not on whether the stocks go up or down. And missing out on trading fees on a busy day is like having an empty hotel room for that night; the opportunity is gone and you cannot regain it.