Taking A Page From A Survivor

FOLIOfn's Steve Wallman is taking on the mutual-fund giants with a new way of investing--and he's thriving

Steven M.H. Wallman's timing couldn't have been worse. He launched his online brokerage and investment firm, FOLIOfn Inc., last June, using the Internet to offer customers lower costs and more flexibility than traditional financial products like mutual funds. The stock market promptly turned in its worst performance in decades, frightening away many investors. You might think Wallman would be wringing his hands. Instead, he's celebrating. "We're getting capital, customers, and partners in an environment where dot-coms supposedly can't get any of those," he says. "I can only chalk it up to the power of our idea."

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