Skip navigation

Trade tickets

or Register to post new content in the forum

32 RepliesJump to last post

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Feb 26, 2008 10:07 pm

Spiff,

Then I am sure Jones will pick up the tab if Countrywide goes under too....   and if Mrs. nervous nelly loses money on her CAIBX..... Jones will be their, GUARANTEED!*   CLEAR THE POOL!!!  WE HAVE A FLOATER!!!       *Note:   Jones guarantees only to tell you what you want to here and reinsures through AMBAC this guarantee to only tell you what you want to hear... GUARANTEED!  If you still don't believe this guatantee please drink your koolaid and then read again. 
Feb 26, 2008 11:16 pm

different thread, same discussion.  i think the problem people have with Jones in regards to 30 year muni’s is that in their training you call 500 people in 1 day asking them to buy a Muni bond-no matter their age/need etc.  i know, i faked my way through that class and had a “discussion” with the instructor concerning this. 

also, the week i was there i bet 75% of all people called to sell C.
Feb 27, 2008 3:11 pm

horse- my class called on xom in 2002 in the high 20s or low 30s. what’s your point about citi? Oh, EDJ was the only shop with a buy on it, I get it.

Feb 27, 2008 4:36 pm

[quote=theironhorse]different thread, same discussion.  i think the problem people have with Jones in regards to 30 year muni’s is that in their training you call 500 people in 1 day asking them to buy a Muni bond-no matter their age/need etc.  i know, i faked my way through that class and had a “discussion” with the instructor concerning this. 

also, the week i was there i bet 75% of all people called to sell C. [/quote]   It was just a training class.  I don't get it.  What are newbies at ML or SB or MS told to sell on their first day?  I am sure not something more harmless than a 30 year insured muni, shares of XOM, or a GE Capital Bond paying 6%.  Unless you are selling CD's, 90% of the time, this ain't gonna hurt someone too bad.   Oh, and by the way, if you have some money available, I think you should buy some today.
Feb 27, 2008 7:01 pm

Until a about 3 years ago–Jones was selling the hinder off those GMAC SmartNotes–they even sent me a clock and some interest rate calculators for the office from St Louis!  They also sold some Ford Credit Notes, Countrywide, KMart (Before they went bankrupt), and I could keep going–would you recommend your clients buy them now?  Why not–they blew up on the FA’s at Jones and everyone else—this isn’t to bad mouth–EDJ, everybody sold them too.  But never say Jones only sells those that won’t blow up on the client!  Besides the question was trade tickets!

Feb 27, 2008 7:09 pm

my point is NOT what they are selling.  i just found it funny i sat in a class with people selling a “safe” stock like C, since Jones makes sure what the IR sells is screened some 10 times to get on their buy list.  and by the way, their list has what, 2 stocks on the sell list, all automakers?  i could care less what they sell.

my point it trying to sell it to EVERYONE!  and i completely disagree on your statement: "I am sure not something more harmless than a 30 year insured muni" this is probably the WORST investment you can sell someone.  ever hear of inflation and purchasing power? i really have no beef with Jones.  i have referred a few people to them since i left.  if you have no sales experience and are brand new, they are a great place to get good training.
Feb 27, 2008 7:10 pm

Roadhard,

Thank you for bringing the thread back on topic. As a bank broker, we always paid for the $20 ticket charge.  As an EJ FA, A $4.95 charge on the trade confirmation.
Feb 27, 2008 7:46 pm

[quote=theironhorse]my point is NOT what they are selling.  i just found it funny i sat in a class with people selling a “safe” stock like C, since Jones makes sure what the IR sells is screened some 10 times to get on their buy list.  and by the way, their list has what, 2 stocks on the sell list, all automakers?  i could care less what they sell.

my point it trying to sell it to EVERYONE!  and i completely disagree on your statement: "I am sure not something more harmless than a 30 year insured muni" this is probably the WORST investment you can sell someone.  ever hear of inflation and purchasing power? i really have no beef with Jones.  i have referred a few people to them since i left.  if you have no sales experience and are brand new, they are a great place to get good training.[/quote]   No, we have three, thank you very much.  We put a sell on BA in the mid 50's.    You training wasn't really about the content of your calls.  It was more about the contact.  They knew that you probably weren't really going to sell C to anyone.  They just wanted to get you going on the phone.  The only way you can call C a bad investment is in hindsight.      Until the last year, what was wrong with C?  Good, rising dividend.  Good total returns.  Looking back at a 10 year hypo w/ div's reinvested, until last year when the bottom fell out, you had tripled your money.   You still haven't lost any principle.  So I would say that unless your CSD was last year, C was a good solid choice at the time.     
Feb 27, 2008 8:14 pm

Spiff-first off, i am not even close to the “Jones haters” we have all over these boards.  I have nothing inherently against them.  I was simply pointing out that even though Jones tries to “scrub” everything and make only the best stuff available to their IR’s, stuff is going to slip through.  It applies more to the bond inventory discussion than stock picking.  Nothing was wrong with C when we called.  And I had the same discussion with my trainer.  We are calling to uncover more info, etc etc.  Anyway, it was just meant as a comment and not a “Jones made me call on a crappy stock.”

Feb 27, 2008 9:00 pm

[quote=Spaceman Spiff][quote=theironhorse]my point is NOT what they are selling.  i just found it funny i sat in a class with people selling a “safe” stock like C, since Jones makes sure what the IR sells is screened some 10 times to get on their buy list.  and by the way, their list has what, 2 stocks on the sell list, all automakers?  i could care less what they sell.

my point it trying to sell it to EVERYONE!  and i completely disagree on your statement: "I am sure not something more harmless than a 30 year insured muni" this is probably the WORST investment you can sell someone.  ever hear of inflation and purchasing power? i really have no beef with Jones.  i have referred a few people to them since i left.  if you have no sales experience and are brand new, they are a great place to get good training.[/quote]   No, we have three, thank you very much.  We put a sell on BA in the mid 50's.    You training wasn't really about the content of your calls.  It was more about the contact.  They knew that you probably weren't really going to sell C to anyone.  They just wanted to get you going on the phone.  The only way you can call C a bad investment is in hindsight.      Until the last year, what was wrong with C?  Good, rising dividend.  Good total returns.  Looking back at a 10 year hypo w/ div's reinvested, until last year when the bottom fell out, you had tripled your money.   You still haven't lost any principle.  So I would say that unless your CSD was last year, C was a good solid choice at the time.     [/quote]   We currently have 6 SELLS.  Often times, once a stock hits SELL for some time, and the fundamentals change, we drop coverage (as with the auto industry - we don't even cover those anymore - we dropped them with a SELL rating).
Feb 27, 2008 9:07 pm

The $4.95 is not a ticket charge like you said – it is a confirmation charge…LPL has one too and it is $5.00…a ticket charge is the charge paid by the FA not the client!  In LPL world we have them but not on everything!  In EDJ world you don’t have them on anything.

Feb 27, 2008 9:16 pm
theironhorse:

Spiff-first off, i am not even close to the “Jones haters” we have all over these boards.  I have nothing inherently against them.  I was simply pointing out that even though Jones tries to “scrub” everything and make only the best stuff available to their IR’s, stuff is going to slip through.  It applies more to the bond inventory discussion than stock picking.  Nothing was wrong with C when we called.  And I had the same discussion with my trainer.  We are calling to uncover more info, etc etc.  Anyway, it was just meant as a comment and not a “Jones made me call on a crappy stock.”

  I didn't peg you as a Jones hater.  You've not told me to go drink any kool aid, yet.      OK, on with the trade ticket charge conversation!!