One Tough Trader

摘要

Why is Ameritrade Holding Corp. Chief Executive Joseph H. Moglia so peppy? There couldn't be a worse time to be an online stockbroker. Do-it-yourself investors who made Web trading a national sport are hibernating. Online trading this year through October is down 35% from the same period of 2001. And Ameritrade lost a net $29 million in its fiscal year ended Sept. 27 on an 11% drop in revenues. Yet Moglia, 53, is undeterred. In September, he completed Ameritrade's $1.3 billion, all-stock purchase of Datek Online Holdings Corp., the leading venue for day traders, boosting Ameritrade's accounts by 80,000, to 3 million. On Oct. 22, he launched a $115 million ad campaign to win back investors. "Now that we've established ourselves as the largest online broker, you are just beginning to see our potential," he boasts.