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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime
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To: Lola who wrote (14586)5/26/1999 6:58:00 PM
From: Dave Duggan  Read Replies (1) of 62348
 
Further to my previous note I remember looking at the holdings of one Fidelity fund on a bloomberg terminal. That one fund had 40 screens of holdings at 20 stocks per screen. It looked like the bloody TSE.

On a related note I talked to a guy who managed funds (he used to write - maybe he still does a bull&bear newsletter). At that time, 15 years ago, he paid $50k a year just for information on stocks. That little fact blew my mind. He told me that he does not touch stocks under $10 because he would move them just by buying them.

So I think the issue has more to do with liquidity than actual price. But they used price to draw the line between garbage and quality in the minds of their blue chip clientel. He also explained it was easier to get investors to part with their money if they were buying quality as opposed to a no name, cheap, zero track record etc...- you get the picture. Maybe thats why people buy volvos, bmws and jags? - they have a perception of quality.
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