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Posted: 12/18/2002 6:32:38 AM EDT
[Last Edit: 12/18/2002 7:37:09 AM EDT by norman74]
What's the best and cheapest way to buy $1k worth of stock? My company just got bought out and I want to buy stock in the parent company. Edited because I can't believe no one has replied.
Link Posted: 12/18/2002 6:35:22 AM EDT
Oops, I thought maybe you were wanting a collapsible stock for your AR15![:D] BigDozer66
Link Posted: 12/18/2002 7:38:02 AM EDT
Anyone?
Link Posted: 12/18/2002 7:50:00 AM EDT
[Last Edit: 12/18/2002 7:53:23 AM EDT by ChairborneRanger]
Well, you are first going to have to open an account at (probably) a discount brokerage firm----there are lots of them around-----Charles Schwab, Fidelity, Waterhouse, etc. Then place an order, however, most firms tend to prefer orders for a certain number of shares, not so many dollars. I certainly do not know what your financial knowledge and circumstances are, however, if that 1K is most of what you have, I certainly wouldn't suggest that you put it in a single stock. Working for a Company does not necesarily make it good to invest in----as a matter of fact, one could make the argument that if your livelihood is already function of how well the Company performs, possibly you should not put any of your liquid assets in to it. (e. g., Think of all those poor bastards at Enron, Worldcom, Lucent, etc.) You might want to consider a no load mutual fund---a low cost index fund might be good for you. Start reading----decisions made off of a good knowledge base, with accurate current information and data, are the best ones.
Link Posted: 12/18/2002 7:57:24 AM EDT
Read the stock reports. Look at the trend plots. Usually good indicators as to what a stock is doing. Also, I too would suggest you avoid buying stock in your company. If you get lucky and have a very good day and you made any kind of transaction on that stock the day before, someone may cry insider info. Just a thought.
Link Posted: 12/18/2002 8:00:34 AM EDT
Just run down to Charles Schwab and tell them you want to buy some stock. There will be fees and other stuff associated, so you might want to find out and shop around to find the lowest one, but for the most part they are pretty much the same. Or You could open an online account with someplace like Datek or one of the millions of other ones out there. Most of these require a monthly fee or a large minimum amount as an initial deposit. $1000 might not be enough for some of them. The fees and other stuff on these vary quite a bit. HTH
Link Posted: 12/18/2002 8:08:42 AM EDT
Originally Posted By Belfry_Express: Also, I too would suggest you avoid buying stock in your company. If you get lucky and have a very good day and you made any kind of transaction on that stock the day before, someone may cry insider info. Just a thought.
View Quote
This would only apply if you have certain insider knowledge, or are pretty high up on the food chain. I trade in my companies stock quite a bit and have made some nice gains, in stock shares, here lately on $.50 - $1.00 swings. Millions of people swap shares of their company stock in both shares and 401K accounts everyday and there's nothing illegal or immoral about it. Plus, assuming that your company is playing by the rules, an employee is in a great position to play the market with their stock. I get public info on what's going on everyday and have access to tons more that most people don't bother researching since they don't work for the company.
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