Somewhere in the Ether, Paul Edwards uttered this to
Garry Norton about Buying SHares
 DY> PS : Is there any service where one can purchase shares "on-line"

 GN>  You can if you are a registered stockbroker... we wouldn't need
 GN>  stockbrokers if we could buy our own shares (more the pity!).  But no,
 GN>  I don't think there is an on-line service.  If I'm wrong, will someone
 GN>  please furnish me with the details? Thanks

 PE> Frank Malcolm, 3:711/934.24 takes buy + sell orders from me
 PE> via messages to his fidonet address.  Obviously you can't
 PE> send this sort of thing routed, but you can become a point
 PE> on 3:711/934 for free, so it only costs you phone charges,
 PE> and STD is cheaper than local calls for doing something
 PE> ridiculously small like an 30-second phone call.  However,
 PE> you have to live with a day or two's delay, or else call him
 PE> up voice.  That's certainly the cheapest way I've ever heard
 PE> of to get into online share trading.

 Hello Paul,
	    Thanks for the information above.  I read the
 original message as the author wanting to buy shares direct
 from the market, and not using a broker at all ... hence my
 comments above.  There are several ways you can contact a
 broker but IMHO I think voice communication is much better than
 remote ordering when it's my money I'm spending!

 PE> Then you have your trade-off to make, Frank works for SHAW and
 PE> looking at Personal Investment, SHAW is in the expensive end
 PE> of the market, whilst Ponts comes in number 2 for cheapness.
 PE> R.V. Williams (or an anagram of that) is actually number 1 now,
 PE> in terms of cheapness.

 SHAW have been merging with other companies over the last
 couple of years, I know longer know what they are like.  But
 when I dealt with one of the merged companies a few years ago,
 they were very good.  I went into their office and was shown
 how they operated and was very impressed.  In the course of my
 work, I have been into many of the dealer rooms of the
 financial industry based in the CBD in Sydney.  I was lucky to
 be in one of the biggest dealing rooms on THAT October day in
 1987.  It was certainly an experience to behold!

 PE> However, using Frank as my broker, I have
 PE> been able to get some historical stock data for stocks I am
 PE> thinking of buying, which comes in useful), which is miles above
 PE> what you're likely to get from any other broker, and especially
 PE> it is miles above what you will get at Ponts.

 There are many places to gain stock information.  Again IMHO a
 broker's information is usually geared to the positives of a stock.
 The various libraries (including the ASX) give totally pure
 facts and leave out all the speculation.  I admit many of the
 brokerage houses send people into various companies to do
 indepth studies.  These researchers are wined and dined and
 usually present companies "fairly" 

 PE> I reckon someone like RV Williams should run a BBS, similar to
 PE> the way Ponts is setting up internet.  I can't see the thrill in
 PE> using the Internet instead of a BBS to do your trading.

 Maybe, but cheap is only good for transactions you have already
 decided on, and someone always pays for a BBS or internet set up.
 Cheap usually means lack of research resources, or buying info
 second hand from elsewhere.

 PE> I guess it depends what you're after.  Do you think a broker has
 PE> a better idea of what to buy compared to say this echo or a
 PE> magazine?

 My opinions may draw criticism, but I'm ok with that.
 Brokers:
 Basically a broker makes a dollar regardless if you buy a good
 stock or not.  In a purely cynical light, it could be said the
 broker can do better if you buy a dud stock as he may get to
 make a dollar when you sell that dud stock!  A broker is
 basically a sales person and will sell you what you want to
 buy.  If you are spending your own hard-earned money, then you
 should do the homework research and use the broker as a
 sounding board and as the purchasing agent.  Unless money is no
 object, the broker shouldn't make the decisions for you.  Let's
 face it, if the broker could get it right and make a fortune,
 would he continue to work for a living!  It's like people
 selling Lotto programs "which will make you a fortune" ... how
 come they are still selling them for a living?
 Magazines:
 I have been a keen reader of Personal Investment for many years
 now and have always admired the way they took a stand with
 Estate Mortgage (even going to court for their honest
 assessment).  But magazines are always a month or so out of
 date when they reach the news stands or the mail box (in my
 case).  The SXJ is great for historical data and pure
 "reported" facts and figures.  But like reviewers in computer
 magazines, financial magazine writers and editors know which
 companies have big advertising accounts with their publications
 - enough said!
 This echo:
 I enjoy conversing with people via a BBS on any subject.  I
 have yet to see any information here that I would "act on".
 This is like the "readers comments" column in a magazine and I,
 like many others, enjoy reading other people's perspectives of
 things.

 PE> E.g. I am happy to give advice myself, and that is to
 PE> buy Adelaide Brighton Cement, based on the fact that it is nearly
 PE> half of the price it was 18 months ago, and I expect that being a
 PE> blue chip company it will return to its 18-month high, some time
 PE> in the next 4-5 years.  When that happens, you've doubled your
 PE> money.

 Everyone has an opinion, but following you own logic, in 18
 months from now, this company may have no price at all!  You
 comment sounds rather like what many brokers would say in their
 monthly flyers!  You know: "Why don't you invest in it and see
 how it goes"  

 Then again, I was there gleefully buying Pacific Dunlop
 PE> at $3.50, to end up watching it trade at $2.67.  I think it's all
 PE> just completely mad myself.  BFN.  Paul.

 Here is the real story, I am sure all investors have "I must
 learn from this mistake" stock certificates laying in the
 bottom of a draw somewhere.  I pull mine out every so often and
 give them some serious thought then laugh out loud ... always
 making sure SWMBO never finds out!

 Maybe the readers of this should look at their own situations and
 reflect ... any comments or criticisms will be cheerfully
 received.  I am a rank amateur and believe investment is a
 serious business, but we could all contribute a little light -
 hearted insite and make this a really enjoyable echo.

 Hope to hear from people

 Regards,
	 Garry


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