Tricks of the Trade: An Insider's Guide to Using a Stockbroker
Author: Mark Dempsey
List Price: $14.95
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ISBN: 157112084X
Publisher: Jist Works (October, 1997)
Sales Rank: 161,105
Average Customer Rating: 4 out of 5
Customer Reviews
Rating: 2 out of 5
Sour Grapes
Four out of five brokers do not last five years. That is why the "salesmen" get weeded from the people who have their clients interests at heart. The author is one who got weeded out. Good ideas to protect yourself from salesmen, but the indictment of the industry is overdone. Brokers do make their living from commissions, but cheating clients is not the way to build a practice. Best advice: Find someone who got past the wash-out phase.
Rating: 5 out of 5
Excellent description of how Merrill Lynch operates
In the Preface of his book, Mark Dempsey states, "Out of fairness, however, I have withheld the name of the brokerage firm that I worked for." Elsewhere he mentions that his previous job was selling radio advertising time. A check of the NASD list of past and present brokers includes a "Mark Dempsey" who, between 1992 and 1995 worked for Merrill Lynch in Dallas, TX. Prior to that, between 1985 and 1992, this "Mr. Dempsey" held sales positions with five different radio stations or networks. Coincidence?
Rating: 4 out of 5
Excellent--read it more than once
I was all set to review this a few days ago, but since I had read it quite awhile ago, I decided to re-read it. Am I ever glad I did! I do not like all the "broker bashing" that goes on. I must be the only person left on the planet that does not think full-service brokers are the devil incarnate. HOWEVER, I did see my broker in some of these examples. Surprise! Surprise! (He's the Master of the Pregnant Pause). This book is required reading for anyone about to invest. I do not believe it is as easy as a lot of people say it is to invest on your own--and I say that after reading piles of books. I say watch your broker like a hawk and keep this book handy as a reference. (By the way, the first time I read it I thought it was so good I bought a copy for the library where I work at my own expense). Please write more books like this one. Similar Products
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