Call Script for CDs

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Feb 5, 2007 4:38 am

[quote=Broker24]Joe, you are dead-right. I have several clients with closed-ends, and I

usually end up going to EFTConnect to research them. It has much more

info than their own sites. This is the only site with much decent info that

I have found.[/quote]



The main CEF’s that I like are muni’s/TIPS/preferreds. Usually the
discount is so bad, that even after management fee’s yeilds are
competative with underlying instruments.



Unlike equity CEF’s you don’t have to worry as much about poor management.



CEF’ preferreds are also a very nice investment, since they are AAA rated yet yeild alot more than equivalent AAA debt.

Feb 6, 2007 1:26 am

Try this website - all kinds of info on closed ends:

http://www.closed-endfunds.com/

Feb 21, 2007 3:24 am

I have a sizeable brokerage account well into the 7 figures. Why would I want to buy an IPO closed end fund when 95% of the time it will be trading at a discount to the NAV shortly on the secondary market. As far as everyone badmouthing CD's, I have 6% cd's with wash mutual, try topping that with something that is guaranteed, and with the least amount of risk

Feb 24, 2007 2:10 pm

[quote=M CANTO]

I have a sizeable brokerage account well into the 7 figures. Why would I want to buy an IPO closed end fund when 95% of the time it will be trading at a discount to the NAV shortly on the secondary market. As far as everyone badmouthing CD's, I have 6% cd's with wash mutual, try topping that with something that is guaranteed, and with the least amount of risk

[/quote]

I'm sure you had a point in there somewhere... We just discussed the benefits of buying CEFs in the after market and congratulations on your 6% CD and your 7 figure accounts. 

In my experience, the people who have the most $ are the last ones  to brag about it. 

Feb 24, 2007 6:11 pm

I have a sizeable brokerage account well into the 7 figures. Why would I want to buy an IPO closed end fund when 95% of the time it will be trading at a discount to the NAV shortly on the secondary market. As far as everyone badmouthing CD's, I have 6% cd's with wash mutual, try topping that with something that is guaranteed, and with the least amount of risk"

This guy doesn't have a 7- figure account. And if he does, he probably isnt using an FA, so he will blow himself up sooner or later...

Feb 25, 2007 1:11 am

 

Feb 25, 2007 5:29 am

Your right I don’t use a FA  I have one  I used to be series 6 licensed many moons ago,  I do have a brokerage account with ML only to write covered calls. I used to used them for cd ladders but I rate shop and can do better on my own. I used to think my FA was looking out for my own interest until he recommended EXG on the initial IPO, now I’m not so sure. and yes the 7 figures is true, I had a Boars Head distributorship for years that I recently sold, worked for every dime of it

Feb 25, 2007 6:07 am

[quote=M CANTO]

I have a sizeable brokerage account well into the 7 figures. Why would I want to buy an IPO closed end fund when 95% of the time it will be trading at a discount to the NAV shortly on the secondary market. As far as everyone badmouthing CD's, I have 6% cd's with wash mutual, try topping that with something that is guaranteed, and with the least amount of risk

[/quote]

So go love your cd's and quit wasting our time. 

Feb 25, 2007 12:13 pm

[quote=M CANTO]Your right I don’t use a FA  I have one  I
used to be series 6 licensed many moons ago,  I do have a
brokerage account with ML only to write covered calls. I used to used
them for cd ladders but I rate shop and can do better on my own. I used
to think my FA was looking out for my own interest until he recommended
EXG on the initial IPO, now I’m not so sure. and yes the 7 figures is
true, I had a Boars Head distributorship for years that I recently
sold, worked for every dime of it[/quote]



How much do you pay on commisions to do options at ML?



If you are serious about writing covered calls I would think OptionsXpress is much cheaper.

Feb 25, 2007 3:05 pm

I buy cold cuts direct. Why pay some thievin’ ba$tard distributor?

Feb 25, 2007 3:44 pm

No There is a differance Philo.  I was up at 3:30 in the morning doing an honest days work.  I am not complaining I got paid well.  I never tried to beat anyone.   I am not accusing anyone here either, as anyone looking to stay in any business long term would Have to do the right thing. I have a lot of money to invest and I used this site as a tool and found some of the replies uneasy to the investor. My cut on cold cuts was 17%  if you want to go direct Go to Rock Street in Brooklyn and you will save 1.70 on your 10 dollar order

Feb 25, 2007 3:56 pm

A broker’s cut on a transaction is generally 1 to 2%. You didn’t need any

specialized knowledge, pass any qualification tests, or complete any

continuing education. Further, what makes you think that any of us don’t

put in long hours or do an honest days work?



17%??? That’s despicable. I don’t know how you live with yourself. There’s

a “differance” you say? I say thank God we’re different from you!



They should lock you up.

Feb 25, 2007 10:32 pm

Philo  I apologize for disrupting the sight. I didn’t acuse you of being unethical or not putting in long hours. What I did say was that some of the respones on here were though   but that is in any business even mine. I had a bad experience, and I am not begrudging anyone from making a living  I know the hours of prospecting, continuing ed, marketing etc that goes on behind the scene, before the sales call.I don’t mind anyone making a commision but it has to be in Both our interests.  I don’t have the education in your field, need to take continuing ed. I do have a Business degree from Brooklyn College  which I know doesn’t sound like it is, but is a respectable school. As far as the 17%, I did lay out 1.25 million dollars for the business 14 years ago, which does entitle me to a good return, if I continue giving at least the level of service as the gentleman before me. I won’t respong back as I know this is a forum for you brokers

Feb 25, 2007 11:29 pm

“As far as the 17%, I did lay out 1.25 million dollars for the business 14

years ago, which does entitle me to a good return, if I continue giving at

least the level of service as the gentleman before me. I won’t respong back

as I know this is a forum for you brokers”

************************************************************ ***********



How does the fact that you laid out $1.25 million entitle you to make 17%

profit? Entitle you? Laying out the money ‘entitles’ you to NOTHING but the

chance to run an ethical, profitable business.



I think you should go back to Brooklyn College and ask for your money

back.

Feb 26, 2007 12:14 am

I'm not going to argue Philo         You're right

Feb 26, 2007 3:22 am

[quote=M CANTO]

I'm not going to argue Philo         You're right

[/quote]

M Canto

You seem to be getting a lot of grief for a few minor offenses.  (Get used to it, on this forum we can be a bit rough, myself included.) 

Personally I do not begrudge you your 17%.  Many other industries have much higher gross and net margins than ours.  (and yours) 

I will give you a piece of advice, as your seem to be looking a bit. 

Go find a Financial Advisor that works on an hourly rate.  You can be sure you are getting unbiased advice and with the size of account you are claiming will save you thousands in fees.  If I were out of the business and had a low digit 7 figure account this is the type of advisor I would want.  It may be hard to find a good one, but ask for some referrals from all of your rich friends.   

Feb 26, 2007 4:00 am

Thank you for the advice Gad. I don't mind how rough it got as I am used to that. In my business I came across many people who disagreed, and I would explain my position without childlike name calling and what not. And in the end if we disagreed that was fine. I wouldn't resort to insults. Thanks for your professionalism