Conference nyoss1::market_investing

    Sandy,
    
    I don't think it matters what broker you use. If she's selling stock as
    a 1-shot transaction, she can use any broker. The only difference will
    be the cost of the transction. Brokers get a fee for executing an order
    for you. The brokers we use tend to be in the $30-35 range for odd-lot
    transactions (less than 100 shares of any issue) - but I've just opened
    an account with a place that will do it for $20. If you want the name,
    I'll try to remember to bring it in tomorrow.
    
    Bob

    AG EDWARDS ON RTE 101A IN NASHUA SEEMS TO BE PRETY GOOD.

    
    	Some full service banks (not S&L's) can purchase and sell stocks.
    You may want to compare transaction prices with them as well. 
    
    

	Re. .0

	Sandy,

	Why do you need to have a local broker in Nashua? One can mail the stock
	certificates to any broker, who would sell it for you. 

	Re. .2

	AG Edwards is a full-service broker, and will charge you mucho for a
	transaction.

	I have been dealing with Waterhouse Securities for the last year or so,
	and have been very pleased with them. They have an office in Boston
	(800 934 4415). Most of the small trades with them would cost $35 per
	compared to 80-120 range for AG Edwards. 
	There are also other cheaper brokers, such as Aufhauser and Pacific 
	Brokerage Service (in the 25-30$ range), but I have little experience 
	with them.

>    My sister is a former DEC employee looking to sell her stocks (to get
>    herself out of debt because of "the package" taxes she is faced with). 
>    Since investor services can't do it for her (former employee status)...

      Does this matter? I think she can still have investor service sell
      the stocks for her. After all, she is still and "investor", for as
      long as she owns stock.  They'd likely be cheaper.
      
      Does  IS  still hold the stock?  Of has she requested and received
      the actual certificates?  

    She has the stocks and investor services won't do it!  I guess it is a
    service for DEC employees who are also investors.
    
    Oh well!!
    
    -sandy
    

	Waterhouse Securities used to be listed in NASDAQ (WHOO); in fact, they
	were among the top 3 stocks in NASDAQ for 1991 for a percentage gain
	during the year, going from 2 to over 30. 

	The last few days, I have not been able to find them in the daily
	listings. I checked NYSE listing also, in case they had moved there, 
	but no luck. 

	Anyone knows what happened? (Yes, I know I can always give them a call.)

	BTW, if you hold 100 stocks of Waterhouse, they give you discounts on
	every trade you make with them. Their prices and services are pretty
	good even without the discount. 

    Check the AMEX.....closing on 3/26 27 3/8 off -1 1/4

	Thanx for the AMEX pointer.

	My question is: why would WHO do this, given that they had a phenomenal
	year in OTC in 1991?

	Also, in general, what are the dynamics of companies moving from one
	market to another? Recently several OTC companies moved to AMEX under
	the "Emerging Mumble" market. While I understand that exchanges are
	trying to lure companies to move to them, it seems like AMEX is 
	possibly the least desirable of the three, given its low volume and
	low cap stocks.

	[Moderator, this discussion may be moved to another note, as this
	does not deal with the topic at hand. Thanx.]

           Anyone have any info. on Shearson Lehaman?  Our former mutual
           fund broker's husband wants us to transfer our funds to him
           (no charge) from our current First Investors.  (wife got out
           of business... she worked for 1st Investors).
           
           Any info. would be much appreciated.
           
           - Steve

    Your standard full service brokerage firm.  Higher costs, but more
    services.  They do a lot of research, so you can ask their opinion of
    stocks they follow.  They will do personal financial analyses for you
    free of charge.  They will send you their top recommendations.
    
    You pay more for commissions than at discount houses.  They have fees
    ($50-75) for IRAs, Keoghs, etc., which other places don't have or don't
    have so high.  Your broker will look to push some of their own
    offerings and will look to move some transactions near the end of the
    year in odrer to get some fees.
    
    Pretty much like Peter Lynch explains it in his book "One Up on Wall
    Street".

    
    What would one look for in a Full Service Broker?
    Especially one like me with very little experience. 
    
    steve 

    
    Question: 
    When do you fire your broker? I'm not real happy with the recomended 
    buys, recently from my broker. Also could I request a stock certif.
    from my full service broker and bring the certif to a discount broker
    to sell, to minimize my loss? 
    
    very novice
    steve 

    A full-service broker is somebody you pay for advice.  You 'fire' them
    when you don't think you are getting value for your money, just like 
    any other professional.
    
    Almost any broker (discount or otherwise) should be able to transfer
    all or part of an account from another brokerage firm.  When you get
    the paperwork to open the new account just ask for the additional form
    to authorize the transfer -- much easier than moving around real
    certificates.

    Remember that a "broker" is really a salesman. His goal in life is to
    sell you stuff. If that makes money for you even better. Salesmen come
    in all shapes and sizes. Don't make a full trust commitment (ie, give
    them all your money) until they prove themselves over some period of
    time. Better yet diversify with more than one "broker" or firm. Spread
    your money around to lower the risk.

    
    Just go to a discount broker and when you fill out the forms there's
    usually a section that asks you if you have any accounts elsewhere.  If
    you answer 'yes', the person representing the discount brokerage will
    kindly suggest moving your account to their firm.  You can just say
    'yes' and they'll handle it from there.
    
    As a professional courtesy I would inform your present broker of your
    intentions.
    
    I had to do this once and did not inform the current full-service
    broker I had been working with that I intended to do the transfer.
    When I called to basically ask why it was taking so long to do the 
    the transfer, the broker was a little upset to say the the least (he
    resulted to calling me names over the phone and shouting).  Being
    the professional person I am, I kindly held my temper and eventually
    got him to admit that he would have done the same thing as I did.
    
    When you tell your present broker of your intentions, he may try like
    crazy to keep your business or he may get upset.  Don't worry, if you
    don't like the performance of the people who work for you, let them go
    as soon as possible or you will end up losing; make up your mind to
    fire him before getting on the phone.
    
    On a different note, this situation reminds me of those wonderful Quick
    and Reily commercials.
    
    Dennis
    

Any opinions on Barrett & Company?

I got a cold call from one of their brokers and I'm thinking of
setting up a fund with them.

Jim

    I used to be able to get quotes and place orders from the
    Schwab 800-272-4922 but it stopeed working about 6 weeks ago
    and all I get is a busy signal.  IS there is new number?
    
    thanks

    IT WORKS FOR ME.  I'M sure you've already called them to ask why it did
    not and if you have'nt call 800-435-4000.  
    
    Ken

    
    	I need some advice... I've been getting calls from this particular 
    broker at VTR Capital for a few months...  I had been putting him off
    as I didn't have any money to invest at the time...  I think I'm ready
    now...  I really don't want to get taken, so how would you go about
    finding out if this firm/broker is reputable and more importantly, if
    his advice is sound?  Thanks in advance,
    
    Luis (investment novice)

    
    	As a novice, Luis, I would recommend you purchase a good mutual
    fund DIRECTLY from the fund company. Fidelity, Vanguard, Strong,
    Putnam, and CGM all have several outstanding funds that have
    consistently out-performed the S&P 500 index.
    	Picking stocks, or any individual asset, is NOT a game for novices
    or the faint-of-heart. Learn first.
    	If you'ld like some suggestions, let's go off-line.
    
    		the Greyhawk

    re: .21
    
    -.1 is excellent advice.
    
    Also keep in mind: A stockbroker is a salesman, pure and simple. How
    much do you trust the person who sells you a TV, or a car? (With
    apologies to the very small fraction of brokers whose advice is worth
    paying for...[Hint: It's not someone who's cold-calling prospects...])

    Amen. That salesman (title: broker, function: salesman) wants YOUR
    money, he does not have YOUR best interests at heart. He's probably an
    unemployed Liberal Arts graduate who finds cold-calling less detestable
    than being an assistant manager at Burger King.
    
    You want to trust your hard-earned money to someone desperate enough to
    call you out of the blue? What's your phone number, anyway? :-)
    
      John

    
    	Thanks for the advice...  I've decided to hold on for a while,
    get my feet wet by going the mutual fund route...  
    
    	Can anybody recomend any books/magazines/tv-radio-videos on
    investing/money-management for novices?
    
    	re:-1 my phone # is 555-1212 :-)
    
    Luis

    and, by the way, these folks buy lists.  If you're getting calls from
    one, then expect some more...
    
    Mark