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This
has been a traumatic period for investors and the equity markets.
The same goes for the brokerage industry. Our competitors continue
to diversify away from the online brokerage business, but at Ameritrade,
we are more committed than ever. We think its a great business.
Its a business model that works best for us. Its sustainable,
scalable and profitable. In todays market, you need the strength
of your own convictionsa belief in the inevitability of opportunity.
You need to question the existing order of things. A sense of direction.
A moment of inspiration. Thats what weve provided for
27 years, and its what we will continue to provide.
Is there opportunity in this market? Yes.
In this company? Absolutely.
Ameritrade is where independent investors go to find their share
of financial success, where they invest their future and where
they place their trust. More than ever, Ameritrade is ready to
help them achieve their financial goals.
Sincerely,

Joe Moglia
Chief Executive Officer
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