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What investors are saying about The Charles Schwab (SCHW)
Summary
In the past 30 days, 3 people on 5 investor and market shows discussed The Charles Schwab (SCHW) in 5 views. Going by each speaker's latest call, 2 are bearish and 1 is bullish. Chorus has followed The Charles Schwab since October 6, 2026.
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Newest first. Every quote is checked against the episode's transcript.
Steve Eisman · The Real Eisman PlaybookBearish
Schwab's biggest revenue item is cash sweep, which agentic AI could erode.
Eisman says Schwab no longer charges commissions. Its biggest revenue item is now sweeping client cash into short-term Treasuries, earning about 4.5% while paying clients 20 basis points. Agentic AI could move idle cash into money market funds automatically, so clients keep the yield and Schwab loses the spread. For Schwab, he says, that is almost its entire business. He says Schwab's customers, including his own family, face the same automated option.
“Today, they don't charge a commission. Their biggest revenue item is that sweeping of cash.”at 32:16
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Chris Whalen · Whalen Global Advisors LLCBearish
Schwab has the lowest bond-book yield of any large bank, leaving billions for shareholders on the table.
Whalen says Schwab's bond book yields less than any large bank's. Schwab defends this by pointing to its low cost of funds, but Whalen rejects that, arguing that proper management would be worth billions to shareholders. He also says he had a Schwab position and sold it, so the view is critical rather than a current holding.
“Schwab has the lowest yield on their bond book of any large bank. ... Because if they had gotten this right, it'd be worth billions and billions of dollars to Schwab shareholders.”at 5:18
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Michael Batnick · Ritholtz Wealth ManagementBullish
Schwab's record client inflows show retail investors are hard to scare off.
Schwab attracted $190 billion in net new assets last week, up 38% from a year earlier, and clients move about $4 trillion in cash each month. About 70% of new-to-firm retail households are Gen Z or millennials. He concludes it will take a lot to scare these investors away from the market.
“Schwab reported last week. They attracted a $190,000,000,000 in net new assets, up 38% over last year.”at 15:51
Chris Whalen · Whalen Global Advisors LLCBearish
Schwab is leaving billions on the table by not restructuring its bond portfolio since COVID.
Whalen says Schwab has not restructured its bond portfolio since COVID. He argues this leaves billions of dollars that should go to shareholders on the table. He puts this down to management not wanting to be embarrassed or take short-term pain. He says he held Schwab until September and exited with a double-digit gain, so he no longer has a position.
“But frankly, you could say the same thing about Schwab. Schwab has not restructured their bond portfolio since COVID, and they're leaving billions of dollars on the table that should be going to shareholders.”at 25:53
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Chris Whalen · Whalen Global Advisors LLCBearish
Schwab will post ugly Q3 and Q4 numbers from unhedged bond-portfolio losses; a cost to shareholders.
Whalen says rising yields push down the price of older, low-coupon, long-duration securities that banks hold. Schwab and several other banks have not restructured their books, so he expects ugly numbers in the third and fourth quarters. He says it is not fatal, but it takes earnings away from investors. He calls the losses from management failing to manage duration a cost of billions.
“Bank America, Schwab is another one, there's several banks out there that have not restructured their book and they're going to be showing some pretty ugly numbers in the third quarter and the fourth quarter.”at 5:54
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