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Pastimes : James Cramer Skeptic Thread -- Ignore unavailable to you. Want to Upgrade?

To: Michael Elizabeth Chastain who wrote (1067)	12/11/1998 2:49:00 AM
From: taxikid	Read Replies (1) \| Respond to of 1254

<<<<I'm curious what he thinks about Social Security, about why he likes options but is wary of margin, whether specialists or market makers do a better job for customers (large and small), how large his commissions are (cents per share) at his trading volume.>>> common sense answers: 1)like most wealthy people, social security is, "a tax"- which since they don't benefit but pay into... should be eliminated. 2) when you have large positions that you cannot sell, you can SELL options to either lessen your position,and get paid a little extra... or add to your position at a favorable price and get paid for obtaining more of what you want. or you can get paid to sell puts or calls that expire out of the money, thus generating income and retaining your position. the use of derivatives among funds has long been to gain a few $$ that add to the bottom line. 2a)WARY of Margin- nobody likes to get squeezed. NOBODY. 3)specialists or market makers can be considered the same, unless the "specialist" is just a "trading" whale that follows a stock or two, while The MM is required to make the stock "liquid". Everyone is out to take a % of your hide, you really want to find out who is requiring less flesh? 4)clearing house fees vary... many times a trade will cost nothing if one side is willing to pay the right price.other times there may be a 2 or 3 cent p/share charge. now dumping a big block may sometimes require the trade to be significantly less than market, causing the seller to lose more than a few piddly cents per share. I answered your post because i sincerely doubt that cramer would give his trade costs out, or his true opinion of SS out, i am not insinuating he would lie, I just think that the biz side conflicts with the personal side.... if this offends you.. wait till cramer answers..... then tell me