Charles Schwab 2011 Annual Report Download - page 14
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12
“ If I think of my running career as
a marathon, then it’s the same as
investing: They’re both focused on
being able to do this into my 60s
and hopefully 70s.”
– Kirk Larson, Investor
During the nancial crisis of 2008, Kirk Larson saw
that some of the big brokerages were tied in with
companies that did not seem nancially sound to him.
“Yet with Schwab,” he says, “I had complete condence.”
That’s because as a self-directed, independent investor
who has successfully managed his own investments
for years, Kirk takes a conservative but intuitive
approach, studying companies that show long-term
value and avoiding the impulse to buy and sell every
day. Over the years, this approach gave Kirk a broad
range of investments from a broad range of nancial
services rms, including Schwab. Then around 2008,
Kirk saw the benet of bringing his assets under one
roof, choosing a rm he felt shared his values: “To me,
Schwab seemed like the complete class of the eld.
They’d been there a long time.” Kirk knows he found the
right rm. Schwab made his consolidation easy four
years ago, and today, the company gives him the kind
of service he expects: “I’ve never called Schwab and
not had somebody who really understood what I was
asking, what I needed, and wasn’t able to resolve, or if
they couldn’t resolve it, put me in touch with someone
who could. That doesn’t happen that often.”