Broker Stocks Outlast Skeptics

Odds are, if you'd bought a brokerage stock during the past three years, you made money -- maybe a lot of money.

In fact, since the bull market began in the autumn of 2002, few sectors have done better than brokerage stocks. This year alone, the brokers are up an average of 12%, far outpacing the broader market.

As a group, brokerage stocks are up 242% since bottoming in October 2002, as measured by the Amex Broker Dealer Index. Over that time, the S&P 500 is up 64%, while the Dow Jones Industrial Average has risen 48%. ...