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Harbor Securities Day Trading Firm Shut Down
Recently the NASD shut down the day trading firm for failure to maintain adequate capital.
That capital deficiency occurred when one of the firm's customers suffered just a $600,000 loss! Remember that SIPC coverage would not apply.
We will focus on the wisdom (or lack thereof) of trading at firms like Harbor Securities in upcoming articles.
Source: Wall Street Journal, November 17, 1999
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