tag:blogger.com,1999:blog-30128229.post3615928404495807946..comments2023-09-30T07:11:55.493-06:00Comments on MarketFN.com: Some Random Thoughts About Brokers and Trading KnowledgeInvestment Househttp://www.blogger.com/profile/14771320644915759241noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-30128229.post-46527054568473457062008-06-01T09:27:00.000-06:002008-06-01T09:27:00.000-06:00GM, thanks for the story of your friend losing his...GM, thanks for the story of your friend losing his investment through a "high powered broker". It really brings home the point about how important it is to do our own study and make our own decisions about our investments. After all, it is our money we are putting at risk. I also appreciate the point about not putting all your eggs in one investment basket. I've seen traders who were convinced they couldn't lose, bet it all on a single play and lose everything. Money management, in my view, is critically important.<BR/>Bill KraftBill Kraft, MarketFN.comhttps://www.blogger.com/profile/08274803638438137352noreply@blogger.comtag:blogger.com,1999:blog-30128229.post-14024557502388268392008-05-31T12:06:00.000-06:002008-05-31T12:06:00.000-06:00Mr. Kraft, You don't need another compliment (I'm ...Mr. Kraft, <BR/>You don't need another compliment (I'm sure you get many) but I would like to add one that will reflect my perspective too. Your insight is, without question, a reflection of both your education and your experience. I can rely on what you say as being AT LEAST worth further thought on my part. I have traded for a number of years and have almost always been on the plus side. I attribute that to my lack of love for money but love for the excitement of trading. I had a friend tell me that his "high powered stock broker" had given him some "inside (sort of)" lead on a company that, when I checked it out, was doomed to fail. I told him to be careful and check it out himself before he jumped in based solely on his "high powered stock broker"'s lead. He didn't listen and you can guess the outcome. He not only lost a lot; he lost it ALL. Well, the old "buy and hold" didn't work because I kept telling him to get out but he wanted to wait and see if his broker was right before he gave up. He finally gave up; he had no choice; the company went broke a year later. Thanks for your educated and experienced insights. I will continue to read them and listen and also, continue to do more research before jumping off the deep end. One last piece of advice for your readers, don't put all of your hopes into one investment; it could be fantastic but it could also turn you live into living hell. GM of TexasAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-30128229.post-54233609678122002812008-03-28T07:22:00.000-06:002008-03-28T07:22:00.000-06:00JMW, thanks for writing. Unfortunately, I have no ...JMW, thanks for writing. Unfortunately, I have no idea how the charts are posted. That is a question for the publisher and I'll forward it on to him.<BR/>Bill KraftBill Kraft, MarketFN.comhttps://www.blogger.com/profile/08274803638438137352noreply@blogger.comtag:blogger.com,1999:blog-30128229.post-18452386316866792332008-03-25T19:07:00.000-06:002008-03-25T19:07:00.000-06:00Mr. Kraft,Another great article - - I look forward...Mr. Kraft,<BR/><BR/>Another great article - - I look forward to these each week. One quick question - - how do you post the weekly charts (all 3) in the upper right corner of your article? I would love to put these on my desktop! Thanks,<BR/><BR/>JMWAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-30128229.post-11836484169707064392008-03-25T08:30:00.000-06:002008-03-25T08:30:00.000-06:00Jose, you are correct. At the bottom of page 37, t...Jose, you are correct. At the bottom of page 37, the definition is correct but the example is mistaken. An out of the money call is one where the strike price of the call is higher than the current strike price of the stock as I wrote. That would mean if one had a $50 call, it would be out of the money if the stock were at $48, it would be in the money if the stock were at $53. Thanks for catching that one.<BR/>Bill KraftBill Kraft, MarketFN.comhttps://www.blogger.com/profile/08274803638438137352noreply@blogger.comtag:blogger.com,1999:blog-30128229.post-69146741857562955272008-03-25T08:06:00.000-06:002008-03-25T08:06:00.000-06:00Mr. Kraft I have being a subscriber for the weeken...Mr. Kraft I have being a subscriber for the weekend newsletter since last year and enjoy all the e-mails and advice. <BR/><BR/>Because of that I decided to buy your book that I recently received (because I do not live in the U.S.) which I´m reading and enjoy it a big time. <BR/><BR/>I have a question about a sentence on the book that wanted to ask; on chapter 4 page 37 at the bottom you write a summary for the calls and on the Out of the money it said "strike price of the call is higher than the current stock price (e.g. a $50 call when the current stock price is $53)" Maybe I do not understand it right or maybe I´m not reading it right but it should not be a $50 call whit the price of the stock lower than $50?<BR/><BR/>I just wanted to check, thanks a lot and congratulations the book so far is excellent!<BR/><BR/>Regards<BR/><BR/>Jose FigueraAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-30128229.post-43092931054220516382008-03-22T16:18:00.000-06:002008-03-22T16:18:00.000-06:00Frances, I can only say that I hope your message i...Frances, I can only say that I hope your message is read by others and taken to heart. No one cares about our money as much as we do. Your story sadly is one of many who have entrusted accounts to various brokerages or brokers only to see assets melt away. Thanks for sharing your story.<BR/>Bill KraftBill Kraft, MarketFN.comhttps://www.blogger.com/profile/08274803638438137352noreply@blogger.comtag:blogger.com,1999:blog-30128229.post-62793674873943735822008-03-22T09:58:00.000-06:002008-03-22T09:58:00.000-06:00Dear Mr. Kraft: I did enjoy your column and sadly...Dear Mr. Kraft: I did enjoy your column and sadly now realize "How true". I unfortunately turned over a split account to Fisher Investments to manage. It consisted of a Roth IRA and the balance was 60 plus stocks purchased over the past 20 years and held in dividend reinv. accounts. At age 73--I wanted to ease the work of managing this pool of wealth. The Roth represented about one third of the total. The Realized losses in that account are massive. Proportionately much larger than the two third balance. They sold off almost each and every stock I entrusted to them. I am now paying an AMT penalty. When I ask if they have a fiduciary duty to the Roth--as custodian managers, I receive platitudes and hand holding. In effect, I am paying them to lose my money. In less than the first 3 months of 08--the Roth has lost over 10K realized losses. They loaded me up in May 07 when they got the account with Credit Suisse, Ubs, Lehmann, and Morgan Stanley--even as the bubble in housing and credit was leaking severely. They sold LEH at 25 the day before the rally of last week and there went 5K in one fell swoop from my Roth ira. I also had Japan ETf and Etf in energy,aLL SOLD AT LOSSES THAT I CANNOT WRITE DOWN. My accounts were populated by Amer. St. Exch. and Pink sheet stocks. He sold many of my original stocks, only to buy them back at a higher price and I have watched those same stocks go sideways or halve in value. F.I. does not hedge or short and must have no rule about when to sell a stock. His motto is " Buy High and sell low" If I leave before the 1st anniv.--I will be assessed a 2K penalty. They tell me I am in the stocks I need to be in because I need growth to cover inflation for the future. I never dreamed they could lose so much money so quickly and wonder if they have a CHIMP THROWING DARTS AS STOCK PICKERS. I become nauseous when I see their infomercials on T.V. Frances R. CampbellAnonymousnoreply@blogger.com