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Brokers, Broker Reliability, Online, Options, Data, News Discussion
blacksheep
post Posted: Aug 28 2017, 07:49 PM
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Good description of Broker research/recommendations - and it's written by a Broker - Marcus Padley

QUOTE
Broker Research

Do I really have to explain this one. Most broker research is a cross between a marketing document and sucking up to the companies the research is written about, in the hope of a corporate relationship if one doesn't exist, or to service the existing relationship if it already does. The analysts aren’t stupid, the research is worth reading, they've done more work than you, they have better access, they know more, but understand that it is not independent advice. Also understand that by the time you read it, if it actually does have some insight, all the important clients have had it for the last week. You are there to ice the price not take advantage of it.

Broker research is tainted with corporate purpose and is rarely written with the singular motive to make the end reader money. Here is an extract from the Marcus Today Shorter Melbourne Dictionary of stockbroker recommendations, which just about sums it up.

BUY – It’s listed.
HOLD – It’s a SELL and we’re not about to ruin years of relationship building between the analyst and the company and the corporate department and the company.
SELL – We pitched for a role in the capital raising and another broker beat us. .
We are moving from BUY to HOLD – SELL
We are moving from HOLD to UNDERPERFORM - SELL
UNDERWEIGHT - SELL
Oversold – It's a terrible company but we’re the broker.
BUY (on a small company from a big broker) – We are about to do a capital raising.
Conviction BUY – Same as a BUY but we’re a small broker craving attention.

The bottom line is that the majority of broker research is tainted by some Machiavellian purpose and on that basis, it as a waste of time.

https://marcustoday.com.au/webpages/832_edu...cf&id=30827




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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
mcart117
post Posted: May 10 2017, 02:09 PM
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In Reply To: crashtstdumy's post @ May 4 2017, 07:31 AM

Thanks for the reply crashtstdumy. It's always fun to hear what other people are doing.

Since making my OP I haven't found a fix for IE on my main box but I have started to use Firefox 52 ESR, the 32 bit version of which will continue to support Java until early 2018.

For anyone interested the download page is: https://www.mozilla.org/en-US/firefox/organizations/all/



 
crashtstdumy
post Posted: May 4 2017, 07:31 AM
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In Reply To: mcart117's post @ Mar 18 2017, 12:14 PM

I would suggest checking out Westpac Online trading. The platform seems to be identical to Comsec but in different colours. Cant say yet if IRESS works on it as I'm currently using a Adroid phone but I can say that having previously been a Macquarie Prime client but having to move due to Macquarie closing their Margin loans I found that BT Margin lending (owned by Westpac) the most competative in what they could offer. CBA rejected my application because I'm currently still traveling the world ( 5 years now) NAB offered me a credit limit of 1.1 Million at 5.8% variable rate and I signed up with BT because as a wholesale investor they approved a limit of 4.5 Million at 4.2%. LVRs on the blue chips at 75% which might be lower that NAB at 80% ion some blue chips.
The above may seem irrelevant when talking trading platforms but it is something to consider as the next step relating to the platform. Personally I view the market as high so I'm not drawing down on the loan until we have a crash but it's what I did during 2008 which enabled me to be classified a wholesale investor today. Good to have the ammo ready.

 
mcart117
post Posted: Mar 18 2017, 12:14 PM
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In Reply To: Brierley's post @ Mar 17 2017, 03:05 PM

Thanks for that Brierley.

I did manage to get it working on an old laptop, so I know it can work. But I'm darned if I can work out what's wrong with my main computer.

Besides this recent issue, I have no real complaints with commsec. I tried NABTrade for awhile, but the site was so full of gremlins I stopped using them after a single trade. I am therefore a bit nervous about trying any other broker.

 
Brierley
post Posted: Mar 17 2017, 03:05 PM
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In Reply To: mcart117's post @ Mar 17 2017, 12:37 PM

Yep, went through the same process with firefox/iress
However, unlike your experience, Commsec Iress is working ok for me using explorer/windows 10
So it will work, but don't ask me how.
There is a troubleshooting guide here

Also using my new Openmarkets account now so bye bye commsec once my free Iress with them expires.....


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mcart117
post Posted: Mar 17 2017, 12:37 PM
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Is anyone out there using Firefox? And do all brokers use variants of essentially the same IRESS application, which relies on Java?

I've used Firefox for years, but suddenly they've stopped supporting Java. To make things worse, Chrome doesn't support Java, and neither does MS Edge, the default browser for Windows 10.

Commsec have told me to use Internet Explorer, but I can't even get IRESS to work in that, and their tech support team seem unable to fix it, despite a number of phone calls and hook ups over the last few weeks.

Anyone else having issues like these with IRESS, and does anyone have any tips or suggestions?

 


Brierley
post Posted: Mar 10 2017, 01:54 PM
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In Reply To: arty's post @ Feb 2 2017, 12:11 PM

QUOTE
Did you know that you get only one daily Contract Note with one Brokerage, regardless how many small bites you take when buying or selling a stock?


Just started trading with them and the aggregation for multiple trades same stock/same day didn't happen.
Seems its not automatic. One has to request it in writing, but I don't know what their criteria is for granting the request.

 
arty
post Posted: Feb 2 2017, 06:13 PM
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In Reply To: Brierley's post @ Feb 2 2017, 02:13 PM

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Are those centerpoint trades you're referring to ?

yes; and ASX offers them now as well, I believe - at least for some stocks. Sometimes, my order is actually showing as a CXCX on the trades screen. I know it's mine because my account will appear as the buyer or seller side. Other times, I only see the executed trade on my order pad, where it's marked done or partially filled; in that case I know it's found a match "elsewhere".

QUOTE
Do you find the broker reports useful at all ?
I'm guessing they could be useful to see whose buying/selling specs, although I guess the data isn't available until after T+2 ?

absolutely! Even after 3 days, the information is still very valid to see where the buyers and sellers have been. Not so much maybe in cases of one-day wonders, but those are mainly "organised" by groups of day traders, and you only find out about those if you're sharing a live chatroom with them. Knowing which broker's clients bought or sold 3 days ago isn't much use in those cases.




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I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)

Said 'Thanks' for this post: Brierley  
 
Brierley
post Posted: Feb 2 2017, 02:13 PM
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In Reply To: arty's post @ Feb 2 2017, 12:11 PM

Thanks for the info Arty

QUOTE
And for over a year I've already been able to place "Best" orders that will go outside the ASX and get me a better price - usually half-way between the usual ASX levels.


Are those centerpoint trades you're referring to ?

QUOTE
It's true that Chi-X is currently not displayed, but I've been told that will come with the next version of Pulse


Chi-X included would be ideal. There's also a mobile app they've been talking about for a while......

Do you find the broker reports useful at all ?
I'm guessing they could be useful to see whose buying/selling specs, although I guess the data isn't available until after T+2 ?

 
arty
post Posted: Feb 2 2017, 12:11 PM
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In Reply To: Brierley's post @ Feb 2 2017, 09:59 AM

Yes, I'm still with OM, and very happily so.
It's not only the low brokerage, but also speed, service, and functionality that I like. Did you know that you get only one daily Contract Note with one Brokerage, regardless how many small bites you take when buying or selling a stock?
It's true that Chi-X is currently not displayed, but I've been told that will come with the next version of Pulse. And for over a year I've already been able to place "Best" orders that will go outside the ASX and get me a better price - usually half-way between the usual ASX levels.

Give Ginny a call and say Hello from me.
QUOTE
Virginia Owczarek
Designated Trading Representative
Level 2, 451 Little Bourke Street Melbourne VIC 3000 AUS
P +61 3 8199 7704 M +61 412 888 815
E vowczarek@openmarkets.com.au | openmarkets.com.au
ACN: 090 472 012 | AFSL No: 246705 Market participant of ASX, Chi-X, NSX and SIM VSE
CONFIDENTIAL INFORMATION. If you've received this email in error please contact me.




--------------------
I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)

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