Go to Jeff Salisbury LWGate Home Page.From: persfin-digest <owner-persfin-digest@shore.net>
Subject: persfin-digest V4 #140
Date: Sat, 28 Mar 1998 06:51:47 -0500 (EST)
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persfin-digest Saturday, March 28 1998 Volume 04 : Number 140
IN THIS ISSUE:
ADVERTISEMENT: domainTNG
RE: $5 Stock Trading
Re:How to switch to a career in finance?
Re:Fraud Cashier's Check
Credit Cards With Frequent Flyer Miles And No Fee?
Re: option strategies - how to lock in current price?
Internet Banking Horror Stories?
Free IRA for Life
====================================================================
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----------------------------------------------------------------------
Date: Sat, 28 Mar 1998 06:37:58 -0500 (EST)
From: Oppenheimer Software <Connect-Sales@mcimail.com>
Subject: ADVERTISEMENT: domainTNG
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------------------------------
Date: Sat, 28 Mar 1998 06:46:08 -0500 (EST)
From: The Editor <ikrakow@shore.net>
Subject: RE: $5 Stock Trading
Sarge's post about Brown and Company's $5 stock trading offer prompted me
to write an article which compares deep discount stock commissions. You
can find it at:
http://pfinance.miningco.com/aa032798.htm
It appears to be a great deal! For one thing, you get the same rate for a
Web trade or a telephone trade. This is not true for most other offers.
Compare e-Schwab, for example, which *starts* the commission at $29 for a
Web trade (which you must have a separate account for). If you want to
execute the trade through a Schwab phone rep, you pay their full rate.
The article links to the commission pages specifically of Schwab,
Fidelity, Ameritrade, DLJ Direct, and E*Trade, so you can read the
differences among these. Also, I link to a page which has virtually all
the other deep discount brokers. The commission schedules and other terms
vary considerably. So do some research before opening and/or switching a
brokerage account.
I think this is an excellent topic for which we should share our
experiences. So feel free to post your brokerage experiences either here
or at our bulletin board at:
http://pfinance.miningco.com/mpboards.htm
Thanks.
Ira
------------------------------
Date: Sat, 28 Mar 1998 06:46:42 -0500 (EST)
From: "J.D. Baldwin" <baldwin@netcom.com>
Subject: Re:How to switch to a career in finance?
R.Prasad wrote:
> have a PhD in (chemical) engineering & do programming/simulations/
> modeling in my full-time job. I am curious about how I can switch to
> a career in financial analysis - market, stocks, derivatives, etc.
> (without doing an MBA?).
I don't have any specific points of contact for you, but my
brother-in- law works in finance, and a few years ago he was trying to
recruit me into exactly this. He said the demand was enormous for
people with solid scientific/mathematical backgrounds (I have an MS in
Computer Science and three years' university-level teaching and
research experience in same) to do this sort of work for the big
firms. He claimed that starting salaries could be quite good. (I
think he threw out the figure of $120,000+ in NYC.) I didn't have
even the slightest interest, but your question brought his comments
back to me. Just a data point.
You may want to correct for the fact that this is the same brother-in-
law who tried to talk me into putting everything into derivatives just
before the derivatives market tanked a few years back. (The event
that bankrupted Orange County, along with others.)
- --
From the catapult of J.D. Baldwin |+| "If anyone disagrees with anything I
_,_ Finger baldwin@netcom.com |+| say, I am quite prepared not only to
_|70|___:::)=}- for PGP public |+| retract it, but also to deny under
\ / key information. |+| oath that I ever said it." --T. Lehrer
***~~~~-----------------------------------------------------------------------
------------------------------
Date: Sat, 28 Mar 1998 06:47:06 -0500 (EST)
From: dmak@tma-net.org
Subject: Re:Fraud Cashier's Check
I suspect that getting charged back for a phoney cashier's check 5
months after the fact is too long. Normally, banks have only a few
days to bounce a check and notify you expiditiously (especially for
large checks over $2500). If you want to research the laws on this,
refer to Uniform Commercial Code Article 3 and the Federal Reserve's
Regulation CC.
------------------------------
Date: Sat, 28 Mar 1998 06:48:17 -0500 (EST)
From: eric <73354.3477@compuserve.com>
Subject: Credit Cards With Frequent Flyer Miles And No Fee?
Anyone know any credit cards that give airline milage (at least one mile
per dollar), without a yearly fee?
------------------------------
Date: Sat, 28 Mar 1998 06:48:45 -0500 (EST)
From: Rich Carreiro <rlcarr@animato.pn.com>
Subject: Re: option strategies - how to lock in current price?
>I will have some options vested next month. And the stock price is good
>now.
>
>Is there any way I can lock the current price and deliver
>the shares next month?
What do you mean by "lock the current price"? The purchase price of
the stock is already locked -- it's the exercise price of the option.
Or are you planning to exercise the option and immediately sell the
stock once the option vests and you want to lock the *sales* price of
the stock?
If the latter, there are two main strategies -- you could sell the
stock short now, exercise the option when it vests, and deliver those
shares to close out the short sale (instead of buying in the short).
Or, you could buy a put with an appropriate strike price now, then
sell the put as soon as you sell the shares after exercising the
option.
Rich Carreiro
rlcarr@animato.pn.com
------------------------------
Date: Sat, 28 Mar 1998 06:49:31 -0500 (EST)
From: rfrego@mail.tel-net.com
Subject: Internet Banking Horror Stories?
If anyone has had a problem using an internet bank to conduct most of
their banking, ie any problems with deposits being credited quickly or
bills not being paid on time?
Please contact:
jgoldwasser@kiplinger.com
about your experience and whether or not you feel comfortable using it?
Thanks,
Sarge
------------------------------
Date: Sat, 28 Mar 1998 06:50:05 -0500 (EST)
From: rfrego@mail.tel-net.com
Subject: Free IRA for Life
This was sent to me this morning. I have a dormant account with Suretrade.
It is nice to see no annual maintenance fees for life incentives.
Cheers,
Sarge
- ------
IMPORTANT INVESTOR NOTICE:
SURETRADE strives to provide the most comprehensive internet brokerage
services online at only $7.95 per trade. Now you can open an IRA
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- -- for life. Trades will be commissioned at SURETRADE's normal rate.
Since the new year, there has been tremendous interest in both
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- -- and streamlining the account application process. Now a single IRA
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or you can print out an application form yourself using a PDF file format:
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Bowling Green Station
New York, NY 10274-0098
As an industry leader, SURETRADE remains committed to providing you with
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Apply for your free-for-life IRA account today!
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President
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P.S. If you have already opened an IRA account with SURETRADE, you will
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P.S.S. Since this is one of the first times we have sent an investor's
notice to our entire customer base we are not sure of your willingness
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notifications in the future, type NO NOTICE in the subject area of your
response.
------------------------------
End of persfin-digest V4 #140
*****************************
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