David sent a message to Abigail Johnson President and Chief Executive Officer of Fidelity Investments and Chairman of Fidelity Worldwide Investment email address that said:
I am an investors with Fidelity. One of the ideas which hasn't caught on--yet--is the idea of bringing investment opportunities to the mass of people who don't have brokers or investment ideas of their own. My idea is to either place machines or modified atm's in grocery stores, gas stations, etc. tied to one or more mutual funds, obviously Fidelity's, where shares could be bought for a small amount. Perhaps a dollar to 25 dollars a share. The cost would be charged against a credit card or debit card. This would make stock ownership available to even the smallest investor. After they pay for gas, groceries, etc., they walk over to the cash machine and buy as little as one share--but they do it week after week
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My belief is that Fidelity would be able to maintain these investors as they aged and moved up the economic ladder to more and more services.
I could go on and on but if you have read this far, you know whether the idea has merit or not. If so, I am the former president of David M. Griffith Associates, who sold his company in 1996 to Maximus, a New York stock exchange company.
Thanks for reading.
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