Investing
BROKERAGE FIRMS TO SMALL INVESTOR: "DON'T LET THE DOOR HIT YOU IN THE ASS ON THE WAY OUT." Lots of reports today on what has been the policy at most firms for well over a year concerning the "small investor". Small is $10,000 at some firms and as high as $30,000 at others. Goldman Sachs has long had a minimum account of $2.5 million and most brokers want $5 million. LINK HERE At least now you absolutely KNOW what they think of you so now you can do your home work and really make money. There is no better way than Investors Business Daily, O'Niel's books, and his CANSLIM system. Takes time to learn, and you need to spend forty five minutes per day looking at the market unless you are fully invested, and the word is invested, but you'll make money. There is an unavoidable conflict of interest between broker commissions based on the number of executed trades and client profiability anyway. Now you are free.

If you use tip sheets, TV crap, the WSJ, and reports from friends, you are a hopeless loser and you will retire on how lucky you get. Today I heard on one of the tout shows of a stock selling at 27 times earnings as a "buy" because it's going higher. Jesus Christ! 1. It will take 27 years at current earnings to break even; 2. Not a word about company debt; 3. Not a word about how many quarters the company has been profitable; 4. Ditto about their competition and how well their competition is doing relative to this 27 times earings company; 5. Nothing about whether the company has any new products, management, or anything else to differentiate it from their competition'; and 6. On and on and on. If you listen to these TV jerk offs you will lose. Buying an overpriced stock at 27 and selling it at 29 is too stupid to discuss.

Anyway, you don't HAVE to stay a small investor.