I have been amazed over the years how a company which sits on assets now totaling $1.3 TRILLION hardly ever manages to have a blockbuster earnings report. The past quarter saw earnings of only 17 cents per share,down from 26 cents year over year. What is it that stops this company from wowing investors and the street? Too many employess? Too many managers? Wastefull spending? Lawsuits?..Many years ago, SCHW made nearly all of its earnings via trade commissions b/4 competitors emerged and undercut prices. Then SCHW moved over big into fees/asset gathering/investment advisors as a way to increase profits. Now SCHW blames low interest rates as the culprit for smaller profits! And since the Fed is likely to keep rates low for sometime to come, I guess we SCHW investors have to look forward to several more disappoininy quarters of profits(and a lower share price) I have yet to figure it out after all these years why the market gives SCHW such a rich premium related to its peers/