CNN Exposed: Inaccurate CNN Money Article
I was reading about Exchange Traded Funds on CNN Money. The article was called, "The new "IT" fund" article.
Here is a direct quote from the article:
"With Ameritrade's ETF program, you can make unlimited trades for an annual fee: 0.50 percent of your assets if you have $20,000 to $99,999; 0.35 percent with $100,000 or more. On a $100,000 portfolio, that works out to 35 trades for $10 each. Even for such a heavy trader, that's in line with the best discount trade prices but not necessarily better."
This offer was very appealing to me so I checked out the Ameritrade Website and found nothing. I called up Ameritrade and they said no such program existed. The troubling thing to me is that it isn't like the numbers were wrong, for instance that the fee was .75% instead of .5%, but the program does not exist at all! Where did the author come up with this fact? I wrote Ms. Wang, the author and I got an automated response that she will be gone until May. Conspiracy minded folks might surmise that she hopes that this will die down in a week by the time she returns.
I call shenanigans!