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To: Chris who wrote (10507)	6/18/1998 3:38:00 AM
From: Jack T. Pearson	Read Replies (1) \| Respond to of 42787

Chris, You didn't ask me, but for what it's worth here is my assessment of brokers. There are a few good ones. But only a few. I get the feeling that most of them blow a lot of smoke. I had one give me a hot tip on a stock a few weeks ago. I told him I would monitor the stock, and if the tip panned out, I would consider opening an account with him. After I hung up, he placed an order in my name, without my concurrence, and filled it at the highest price of the day--at a commission 10x what I pay through Discover Direct. I hadn't even opened an account! When someone called after the market closed to report I had bought the stock, I raised hell and they backed out. I probably should have reported him. I wonder how often this goes on. He also sent me some stock analysis reports that were three to nine months out of date. The only reason I can see to deal with a broker is to get in on an IPO at the offered price. Jack

To: Chris who wrote (10507)	6/18/1998 10:10:00 AM
From: Magnatizer	Respond to of 42787

Chris all of those questions are broker dependant as far as the answer goes. My full service broker is no better than my discount broker. Although the full service does crack me up. He is a funny, opinionated SOB. We butt heads a lot and I need that sometimes. He helps to confirm wether I am making a good investment. It he throws out something that I cannot justify then I know I did not do my DD well enough. the discount broker is more of a laid back cat. Very conservative, former bank president. I like to go through him on my picks which I know are very solid fundamentally and he can tell me what a great find it is or what a crazy guy I am. I use him mainly for the fees. 45-55 depending on the # of shares and PPS. Does adequate research when called upon. The real benefit to a broker is you have someone else watching you portfolio when you are not around. Both of my brokers know how to get in touch with me 24/7. When I travel this gives me great peace of mind. I use the online broker for short term trading. ht david

To: Chris who wrote (10507)	6/18/1998 11:19:00 AM
From: Judy	Read Replies (1) \| Respond to of 42787

Whether a broker is useful or not depends on how much work and market monitoring an individual is inclined to do for trading and investing, and the complexity of the positions (some options structures require a knowledgeable broker to implement). Also some people feel the need for handholding from a "professional" ... a false sense of security in my opinion. There are a few good brokers, but they are few and far in between. It took me over ten years to find a CPA worthy of the fee ... in over 20 years I have yet to find a broker worth the commission. A brokerage account is helpful when the firm provides clients access to markets otherwise not accessible or research reports. I focus on reliability and timeliness of trade execution, and a firm that will rectify things immediately when they screw up ... no if and or buts. Send me a private message when/if you want to get into specifics.