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Thread: Stock broking?

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    International Captain cover drive man's Avatar
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    Stock broking?

    As you know for a while now I have been teaching myself and am interested in the stock market. And I've come to the conclusion that I would like to become a stock broker. Could anyone share some information on that please and do we maybe have any stock brokers on cw?
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    International Regular DCC_legend's Avatar
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    This helped me on my journey to Stock Brokerdom.
    Where's my money?

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    cpr
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    Nah, Stock Broking doesnt appeal to me, 5 years sharing a cell with a thai ladyboy and getting bum cancer isnt my idea of a happy retirement.
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    International Coach KiWiNiNjA's Avatar
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    Quote Originally Posted by cpr View Post
    Nah, Stock Broking doesnt appeal to me, 5 years sharing a cell with a thai ladyboy and getting bum cancer isnt my idea of a happy retirement.
    lollage


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    State Captain Chubb's Avatar
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    My grandfather and uncle are stockbrokers. From what I can gather of their experiences in the trade, it more or less comes down to who you know rather than what you know. My grandad was the son of a postman, and he left school at 14. However, there was a guy at his cricket club who worked in the City (about 20 mins on a fast train from where they live) who offered him a job in his firm... consequently he built a career. Then, for my uncle, of course my grandad could find him a job in the City. They basically owe their careers to who they knew. I don't know if their experience is typical but if you want to get into it yiou need to make contacts. You don't really need a degree or any real qualifications beyond a competence in maths. It is a high-stress job these days but the rewards are commensurately high.
    Last edited by Chubb; 06-04-2008 at 04:19 AM.
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    International Captain Swervy's Avatar
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    Quote Originally Posted by cpr View Post
    Nah, Stock Broking doesnt appeal to me, 5 years sharing a cell with a thai ladyboy and getting bum cancer isnt my idea of a happy retirement.

    hehehe


    funny!!!
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    International Regular simmy's Avatar
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    I am a professional poker player as some of you know from other threads and have been really looking to branch out into investing in shares and the like.

    I have an economics degree but I need some tips/help etc...

    Any ideas anyoone??

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    BARNES OUT dontcloseyoureyes's Avatar
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    Love how both andmark and cdm have decided on their future careers at about the same time.
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    International Debutant andmark's Avatar
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    Nah, I was thinking on being getting a Law degree for a while. And hopefully be a future Lawyer.
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    BARNES OUT dontcloseyoureyes's Avatar
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    Yeah, which means you recently decided on your future career....

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    I am kinda in this mutual fund business .
    Its great so far !
    well ! Here is a way to pay off your mortgage faster : lets say you have a 350000 house with 250000 mortgage . You can break the current mortgage by paying just a bit as a penalty (depending upon your situation and agreement) .Next you do is that go to the other institution which did the refinancing and tell the bank to take the 100000 as it is and bring in 300000 more and one can get the investment loan (subject to a condition that the same bank handles all the portfolio) and then make the equity + 300000 = 400000 as a joint fund and you personally are liable for the 5.5 % interest on that bank's money .... And when you get the profit on a conservative balanced portfolio (which is around 11 % in Canada) then you pay off the 5.5 % that is the cost of borrowing and remaining 5.5 % goes on top of the invested capital that is 400000 and if you keep on re rolling this process then after 15 years you come to a point i.e 250000 $ (which was the mortgage) then you can either stop the process and walk away with a paid off home or you can carry on with the process for another 15 years to generate a pension fund for yourself .
    But here in Canada this is only possible when you HAVE at least 100000 $ in the equity and only then you can get another loan of 300000 at a low rate (prime + half) as an investment loan .
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    plus let me give my example that I was paying 1300 $ as a mortgage and now I have another portion in the house and that pays me some heavy rent and I am putting that rent money as a reinvestment on top of the capital and I am paying my mortgage at a very accelerated mode plus I have another investment too which was 100000 $ and I got that loan for 5.5 % and now what happens is that I am getting 9% on very very conservative funds and I am reinvesting that 3.5 % (remainder) on top of the capital and the compounding is generating a decent amount........

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    If you wanna make money then get into the money business ! I'll suggest that but remember that keep an eye on the coming 10 years and if you'll start relying on the stock exchange money and your goals are short term then God bless you and save you ........
    Plus these days are recession days tbh and please please don't get into these short term rises in some funds because that is basically (insider trading
    ) and is a vicious trap for new comers in the business and it is very difficult to trace and there is no remedy for that and recession periods always give birth to stock frauds .... SO mind you dont be a small fish in a big pound and be a wise amphibian and sit on the shore and invest for long terms in some secured funds and earn a little low and when you see the peace in the pound only then go in the pound .........
    Last edited by FRAZ; 09-04-2008 at 01:41 AM.



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