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 Chairman Charles R. Schwab  |
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A letter from Chairman Charles R. SchwabI’m sure there isn’t a person in America who doesn’t feel the stress and pressure of this economy and the double whammy of a housing and stock market in decline. The question on everyone’s mind today is, “Where do we go from here?” But there isn’t a simple answer to the question.There is still some work to be done to wash the system clean of some of the excess debt and leverage accumulated over the last decade. The enormous stimulus that’s in place will take some time to take hold. But I’m confident things will improve. As an individual, your best course is to have a well-thought-out plan, monitor it, and if you feel you need a sounding board, talk to one of our financial consultants. We’re here to help. I’m sure that doesn’t sound like the easy path forward most of us would like—but I think it’s the right advice for the times we’re in. Just recently, I had the opportunity to participate in a town hall meeting with Schwab’s Chief Investment Strategist, Liz Ann Sonders; our Chief Investment Officer, Jeff Mortimer; and a number of other Schwab market and investing experts. We were joined by an audience of close to 10,000 clients, who participated in the interactive event live, online, and at nearly 200 Schwab branches nationwide. The topics, of course, were exactly the ones that are on everyone’s minds: the economy, the stock market, and what investors should do now. As you think about your own situation—and where you go from here—I hope you find some of our thoughts from this recent town hall helpful. And if there is anything we can do to help, please contact us directly at one of our branch offices or by calling 800-435-4000. Sincerely,  Charles R. Schwab Founder and Chairman, The Charles Schwab Corporation |
