Chuck Schwab: Pioneer, Innovator, Procrastinator
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When Charles R. Schwab started his own firm in the 1970s, he and other discount brokers opened up the markets to regular folks, giving them the chance to make colossal investing mistakes just like Wall Street’s fancier clientele.
Of course, Charles Schwab Corp. (SCHW ) also made it easier for lucky or smart amateurs to make lots of money in the markets, while paying dramatically lower trading fees than they would at traditional Wall Street brokerage firms. Eventually, the company, which expanded into 401(k) plan management, banking and the investment advisory business, made Chuck Schwab a billionaire.