Oh, why should I listen to the brokers at the first place!!
This is my circumstances: I'm a mother of three, unable to go to work outside the house because of my family commitment. Of course life's tough, single income with three little boys to raise. I am so eager to find a job from home, so here I am in the ASX with some small amount of fortune to start, dreaming to make my first million :).
Some months investing, I just in love with the share market. Unfortunately this year was very rocky, some carnages along the way. I think I'm still doing ok for a beginner.
Now, about the brokers. I can't aford to pay premium fees for brokerage research and recommendation. For this reason, I'm doing a lot of the research myself. Afterall, I studied a lot of these stuff at Uni, so why not using what I learnt? That's what I thought anyway...
So this is how I work, I did all the reading and researching, checking everything, and then buy a certain stock. Later on it will make me very happy if I know that some brokers are thinking the same as me (i.e put a 'buy' recommendation)
Now, some times, I've got a free trial subscription from brokers. This is where the damage is done! A few times, I read their report AND like it AND easily decided to buy a certain stocks. Big mistake, it never worked for me. Some free subscription recommended Commander Communication (CDR) few months ago at price of nearly $2. Price kept going down, and the 'buy' rating continued until finally it reached some $.40. Well, it gets cheaper and cheaper, means better deal. Wrong.
The same thing happenned with few other stock, such as AFG, price went down from around $11 to about $5.50 and the 'buy' recommendation continues. I'm holding this stock, and kick myself for it. I got the reco from a free subscription.
Don't get me wrong, some brokers have done some amazing jobs for the client, but I think I better stick to my own way. To start from 'brokers recommendation' is not for me!
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