[atarirat]

I can't decide if this is the appropriate forum or not, but here goes....

I desperately need to find a cheap way to buy a handful of Apple stock for christmas presents. I only need about four or five shares and know nothing about investing.

I tried E*trade and Ameritech and they both want $1000.00 just to open an account. I also went to OneShare and the want to tack on an extra $40.00 for each share.

Is it me or are these options outrageous? Please help, I'm getting desperate. I will consider any suggestions wether they are online or not.

Thanks for any suggestions, and Happy Holidays to all.

[rambo47]

I think it's e-Schwab that allows new accounts with as little as $500. Once you but the stock you must request the certificates be delivered to you.

------------------
-bo47

"There is no spoon."
iDisk: rseijas
Homepage: homepage.mac.com/rseijas

[LY]

Try thefinancialcafe.com
No minimum amt to open an acct
No fees except for limit orders

[Misha]

www.oneshare.com

[atarirat]

Thank you everyone for your replies. I am still looking around for what will suit my needs the most.

Misha, oneshare was actually my very first stop (mentioned above). The downside to their setup is that they want to attatch a $40.00 fee for every stock purchased. I don't mind paying an initial fee, but $40 for each $15 stock is hard to swallow.

Likewise, if I am only buying 5 stocks for a total of $75 then even the discount brokers minimum investment requirements of $500.00 is too steep.

Right now, BuyandHold.com seems like my best bet. $20 dollars to set up an account, but it still isn't clear to me how their process works. Seems like they want you to make compounding investments every month. And as for unloading you stock, it is never mentioned at all. Thus the name "buy" and "hold".

I hope this post doesn't start too demonstrate how cheap I am, but in my defense I am a full time student and my only income is a part time teaching position. Surely that should express how desperate my situation is.

Thanks again everyone, please keep the suggestions coming.

[sblunden]

its going to be hard to find a place to buy 4 or 5 shares of a stock without paying fees of $40 or more

[atarirat]

I don't mind paying $40.00 in fees.

I do mind paying $40.00 per share, especialy when the stock is only $15 a share.

I'll end up paying $200.00 in fees for $75.00 of stock.

Is there really no way around this?

might try posting in yahoo/apple stock chatboard: "apple stock shares wanted/will pay over market". (here's the URL: http://messages.yahoo.com/?action=q&board=AAPL

a site called 'ragingbull.com' has a similar (apple) chatboard, nearly as wild, and I'm sure there are others....

your post might find you a shareholder who 'holds' the shares' himself (possibly even who lives near you) willing to sell ya all the shares you -want- at a buck a share over that days closing price....be warned, hoewever, that you'll need to repost it frequently to get any results, otherwise, it'll 'fall off the bottom of the list' because noone reads older posts...

most online posters, though, probably have their brokers hold the shares 'in street name' (meaning the shares aren''t at their home, but elsewhere, like their brokers, or in NYC somewhere). posting at yahoo, of course, is free (and -totally- uninhibited).

all 'risks' associated with transacting the deal, of course, would be on you - take appropriate precautions...

dave, "time to time" apple shareholder and online trader (never paid to hold my OWN shares here at home, though-I trade too often)

[Dan Szwarc]

Suretrade.com

In a nutshell:
No minimum balance
$8 fee of market trades, $10 fee on limit trades.
No day trading. No other fees (except wire transfer of money)
I bought some Apple at 18, but now I'm losing. Hoping that next quarter is better, Should have waited...


check them out. A guy at work who is a real cheapskate uses it. He's also really smart, so I figured he did all the research. They haven't disappointed me yet (just my stocks!).

------------------
Dan
Michigan Lincoln & Continental Owners Club

[This message has been edited by Dan Szwarc (edited 12-24-2000).]

[Fyre4ce]

Uh, what about Datek Online? That's what I use, and I like it. $10 for market or limit orders. And no minimum balance I think. I bought AAPL at 21 and change, and I have lost lots of $$$.

fyre4ce

[the_glassman]

I used oneshare to purchase single display stocks and have been pretty happy. They like to rip you off on the frames though.

[The Oracle]

Originally posted by Fyre4ce:
Uh, what about Datek Online? That's what I use, and I like it. $10 for market or limit orders. And no minimum balance I think. I bought AAPL at 21 and change, and I have lost lots of $$$.

fyre4ce

I hope you kept it, because you would be up lots of $$$. I bought at $20.

Investments for most people should be long-term. If you're going to cut and run quickly, then stick to day trading.

[rambo47]

One thing to ask before you set up an account is how to go about getting the actual stock certificate once you buy the stock. Standard proceedure is to credit your account with owning the stock but not sending you the certificates, rather keeping them in electronic form with the brokerage firm. If you are looking to give the stock away as a gift you should definitely tell them of your plans to do so before setting up the account.

[Kenneth]

Sounds good.... but this thread is dated back in the 2000.

[rambo47]

[Randman]

I liked hearing about Apple being around $20. And the fact that you didn't have to register then. Imagine the abuse that would get now?
But it would be interesting to hear what people are using now in 2004 and not last century.

[banninated68]

Originally posted by The Oracle:
I hope you kept it, because you would be up lots of $$$. I bought at $20.

Investments for most people should be long-term. If you're going to cut and run quickly, then stick to day trading.

I bought mine at 18.5, and kept it for 3 ****ing years and it didn't move. Once it got to 24.5 I sold the damn things.

- Rob

[Scotttheking]

Checking the date of the last post before replying to something is always a good idea.