Certificate of Deposit

Archive for September, 2008

Question: Stock Investment for Dummies?

I wanted to invest some money in the stock market since everything is down and I have hopes that things will over time get better. So, I have a few different stocks that I’m interested in investing in but I’m not sure how to go about it. I was wondering what a good broker site is for small transactions. I see most sites you have to open an account with a minimum $500.00 to invest…I’m not quite ready to do this yet. Is there a good site to recommend?

Answer: There are many cheap online sites, all are relatively simple. TD Ameritrade will let you open an account for $500.00. Their software, (free) has trading tools that will help you. Here are some things to consider:Do you have a strategy? What rate of return are you expecting? (not hoping) Do you have at least 5 active web sites to do your strategy check. I liked the strategy of short term trading, vs day trading. Short term trading I would execute 1 trade every 5-8 trading days. I set up to make a profit of 8-15% every trade. I developed my strategy over years of trading then found out that Wade Cooke used a similar but refined strategy. He invests in rolling stocks. Finding a stock that rolls 8-12% over a short period of time, alway repeating the highs and lows. I would average 40 -55% a year in good trading years. Stocks are volatile, but in a bear market right now, and that is good and bad for this strategy. I suggest buying the book on Amazon.com “Wallstreet Money Machine” by Wade Cooke. The work comes in finding the stocks that roll. YOu can buy a hard cover for less than $1.00 used.

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Question: Is it possible to VERIFY the existence of a bond ?

I was given the following information about a bond, supposedly secured by gold deposits in a vault in Texas. I SUSPECT it is a scam, but I want to know for sure. Here is the information:

Bond:-

CUSIP NO: 33560H105

ISIN NO: US33560H1059

Ledger/Certificate No: FNC-14068-DB

Value: $500,000,000.00 USD

Bond Owner: Mrs. Boyd R Stephens

can ANYONE reading this tell me if such a document can be authenticated from the data provided ?

Answer: It’s fake – you can search any bond by CUSIP number here

http://www.investinginbonds.com/advsearch.asp

It doesn’t show up there, it’s not a real CUSIP number therefore not a real bond

You can also look up any ISIN number here http://isincodes.com/
Again, it doesn’t show up so that is not a real ISIN number, therefore not a real bond

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Question: Certificate Of Deposit (cd) question?

At this website I am thinking about buying a cd…
what exactly does the first paragraph mean?

and do you think it is a good investment idea?

http://www.mlnbank.com/EN/services/premcds.htm

Thanks so much =)

Answer: It means that they are guaranteeing the interest rate that is advertised at the time of purchase. CD’s pay more than standard savings accounts but you cannot take your money out with out losing part of it until the CD has matured (1 yr, 3 yrs,) whatever you chose when you purchased it. This bank is in the West Indies and, unless you are too, I would do business with a bank in your own country. I have cd’s with ING.com. These internet banks offer a little better rate because they do not have actual physical locations so their expenses are lower.

Investment Advice : What Are Bank CDs?