Stockbrokers: who's agenda? Message Board

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Gold/Mining/Energy : Stockbrokers: who's agenda?

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To: JAMES BORECKI who wrote ()	7/9/1997 10:02:00 PM
From: Leon Herrell	of 16

Hello JimBo, I have no clear insight to stockbrokers except that in my experience they always follow the party line and make money whether you do or not. However that party line is sometimes months out of date as I have found out to my cost. When your broker recommends a stock ask him a few questions such as; what is the 12 month target and what is it based on, when did the buy recommendation originate and what was the stock price at that time etc etc. I found with major brokerage houses they generate a new list each month which maybe worthwhile asking for - my exbroker only gave me one when I asked for it. He would not supply it on a standing order type basis. Outside the party line brokers are not very helpful in finding new stocks, including my new broker. Some of the leads I have picked up on SI have not been followed by their brokerage house and he has not been willing to research futher. This is true for many midcap stocks such as SMS.T. Having to do my own DD why should I pay him full fees therefore I opened an account with TD Greenline, much cheaper. As for mutual funds remember that you are paying for someone to lose you money +75% of the time. This is the percentage of funds that do not beat the market index. Therefore as always select carefully and even with your broker's advice do some DD or start a thread on SI like this one. Not much help but thanks for the shoulder to cry on. Leon H.

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