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Computerized Investing > January/February 2006

Editor's Outlook

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by Wayne A. Thorp, CFA

As this is my first installment of the Editor’s Outlook, I would like to take the opportunity to thank John Bajkowski for his many years as editor of Computerized Investing. He has been a mentor and an infallible resource to me over the almost nine years that I have been with AAII. I also want to thank him for the confidence he has shown in me with this opportunity. I will continue to rely on his wisdom and advice and, rest assured, you will still be treated to John’s insightful articles, such as the one in this issue.

Discount Broker Guide

Our annual comparison of on-line discount brokers lists 46 brokers this year. We appear to be entering a quiet period in the industry. After tremendous growth in the late 1990s, the industry started a period of consolidation that began in 2002. However, consolidation has slowed over the past few years and the number of brokers this year fell by only one. While the focus on consolidation may have shifted, specialization is still key to differentiating oneself from the herd.

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