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Q: In what would you invest in the brokerage industry? Something like E*Trade (ET )?

A: I don't follow E*Trade, but I would broaden my investment. I mention Goldman Sachs (GS ) because not only do they have the brokerage revenue but also a strong investment-banking arm, an international scope, etc. They're a well diversified firm -- equity underwriting and debt underwriting, as well as their consulting, provide revenue sources in different currencies that offer a stable investment platform for our clients.

The Aging of Abercrombie & Fitch
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