Front Office Trading Wiki

Beware the Share Vultures

The historic falls in the value of Australian equities through 2008 have left investors extremely weary.  Many are asking questions like:  How far will the market fall? When will the falls end? Should I get out? Etc.

I would love to be able to provide the answers for investors but the reality is that I along with every other “expert” really have no clue.

The truth is that no one can provide any definitive answer which unfortunately only helps to add fuel to the fear.  Our approach is to look at the fundamentals of investment markets through history and promote a cautious approach to investing using whole of market style trusts – See our Building Portfolios page for more detail.

Unfortunately the great amount of fear being experienced in markets brings out some less than scrupulous characters.  A few weeks ago I received an unsolicited offer from a group called Hassle Free Share Sales.  This generous organisation offered to buy my Woolworths shares from me.

(As an aside, some may ask why I hold shares when I promote a passive investment approach to investing.  These shares were the first shares I ever owned and were purchased in Woolworth’s IPO in 1993 – so they have some sentimental value along with some significant capital gains implications if I were to sell them.)

Back to Hassle Free Share Sales – they offered to buy the shares for $14.45.  The market price at the time was $28.90.  It is now $26.08 – Friday’s closing price.  They also stated that there would be no brokerage or stamp duty.

Thanks very much but no thanks!!!

What groups like Hassle Free Share Sales and others (including probably the most famous operator – David Tweed) are trying to do is prey on smaller investors who may be less sophisticated in their approach to share ownership.  These investors are the most vulnerable at current times.  They hear, and read all the fear thanks to the media but are less likely to have a financial advisor or even broker assisting them in their decision making.  This offer comes along and it seems an easy way of selling their shares.

Please don’t do it!!!

If you feel you can not take the stress that you might be feeling at the moment and / or you feel you have to sell than you should take the time to get proper advice and sell your shares on the market at the best price you can, not through a shonky operator like this.

For more information on this topic take a look at the following links:

- NSW Government Office of Fair Trading warning in December 2007 about Hassle Free Share Sales – Be wary of share buying offers
- A recent article from Vanguard on the topic – Taking cruel advantage in a troubled market
- ASIC’s Financial tips and safety checks site – FIDO – Unexpected offers to buy your shares
- David Tweed’s Wikipedia entry – http://en.wikipedia.org/wiki/David_Tweed

Regards,

Scott Keefer
Financial Advisor based in Brisbane, Australia

About the Author

Scott Keefer is the General Manager of A Clear Direction Financial Planning based in Brisbane, Australia. He has been a partner in the business since January 2007. He has completed a number of degrees related to financial management including a Masters of Financial Planning and Bachelor of Commerce. He also holds a Graduate Diploma of Education.

He is an Authorised Representative of FYG Planners Pty Ltd, Australian Financial Services License 224 543.

Prior to joining the business, Scott was involved in secondary education where he held middle management positions in schools in Brisbane and Jakarta, Indonesia. Part of these experiences involved teaching Indonesian students about Business Management and Economics principles as relate to the Australian context.

Scott is a co-author of the book ‘It’s Time You Knew the Truth: Building Investment Portfolios That Work’ and ‘A Clear Direction – Your Guide to Being a Successful CEO of Your Life’. He has a passion to work with people at all stages of the financial planning process helping them to build successful financial solutions through well structured investment portfolios.

Wiki $146.9 This book is in Used condition

Maui Jim Wiki Wiki Polarized Sunglasses – Neutral Gray Silver – Case Sunglasses $279 Pure titanium, updated aviator frameAdjustable, non-slip silicone nose padsCovers full periphery of eye for excellent wind, sun, glare and UV protectionPolarizedPlus®2 Technology blocks glare, manages blue light and boosts colorsCLEARSHELL® Scratch CoatingAnti-corrosive hingeGloss finishIdeal for small to medium facesMaui Jim case and cleaning cloth includedThese Maui Jim Wiki Wiki Polarized Sunglasses feature a pure titanium, updated aviator frame that is lightweight, durable and flatters small to medium faces. These Polarized Sunglasses cover the full periphery of the eye, ensuring excellent wind, sun, glare and UV protection. The CLEARSHELL Scratch Coating on the front and back of lenses provides long-wearing performance while scratch- and impact-resistant Maui Evolution® lenses combine the best properties of SuperThin glass and polycarbonate. These Maui Jim Polarized Sunglasses feature a double bridge design with adjustable, non-slip silicone nose pads. All Maui Jim sunglasses feature patented, color-infused PolarizedPlus2 Technology, which blocks glare and UV rays from all angles, manages blue light, and boosts colors for unmatched vibrancy, clarity, and contrast. All Maui Jim sunglasses include a case and cleaning cloth.How to choose your Maui Jim lenses: Neutral Grey offers amazing contrast and the highest available light production. Suitable for all light conditions, especially bright, direct sunlight. HCL® Bronze offers excellent contrast. Ideal for everyday conditions, from full sun to clouds. Great for those who prefer a subtle bronze hue for everyday wear.Maui HTâ„¢ is suitable for variable and low light conditions. HT boosts colors, contrast and depth perception, while blocking 99% of reflected glare. Great for times when other lenses would be too dark. Pure titanium, updated aviator frameAdjustable, non-slip silicone nose padsCovers full periphery of eye for excellent wind, sun, glare and UV protectionPolarizedPlus2 Technology blocks glare, manages blue light and boosts colorsCLEARSHELL Scratch Coa

Wiki Markup $86.03 High Quality Content by WIKIPEDIA articles Wikitext language or wiki markup is a lightweight markup language used to write pages in wiki websites, such as Wikipedia, and is a simplified alternative/intermediate to HTML. Its ultimate purpose is to be converted by wiki software into HTML, which in turn is served to web browsers. There is no commonly accepted standard wikitext language. The grammar, structure, justification, keywords and so on depend on the particular wiki software used on the particular website. For example, all wikitext markup languages have a simple way of hyperlinking to other pages within the site, but there are several different syntax conventions for these links. Many wikis, especially the earlier ones, used CamelCase to mark words that should be automatically linked. In MediaWiki, this convention was replaced with the …]] notation, which Wikipedia calls free links. Author: Surhone, Lambert M./ Tennoe, Mariam T./ Henssonow, Susan F. Binding Type: Paperback Number of Pages: 104 Publication Date: 2010/10/08 Language: English Dimensions: 6.00 x 9.02 x 0.25 inches

How the Trading Floor Really Works (Hardcover) $60.48 A detailed look at what really happens in the front office of an investment bank and whyTrading floors have always fascinated people, but few understand the role they play in the world of finance today. Though markets rise and fall every day, the drivers of those are rarely explored. Those who understand the dynamics of trading floors will better understand the dynamics of global financial markets. This book reveals the key players on the floor, their roles and responsibilities, how they serve their clients, and how it all impacts the markets. It also explains important terminology, explains the world of trading both cash and derivatives, and much more.

Wiki Server $58.94 High Quality Content by WIKIPEDIA articles Wiki Server is a set of services which ships with Mac OS X Server v10.5 and v10.6. Mac OS X Server includes webbased Wiki, Weblog, Calendaring, and Contact services. Additionally, it includes a Cocoa application called Directory which allows directory viewing as well as enabling of group services. Mac OS X Server is a Unix server operating system from Apple Inc. The server edition of Mac OS X is architecturally identical to its desktop counterpart, except that it includes work group management and administration software tools. These tools provide simplified access to key network services, including a mail transfer agent, a Samba server, an LDAP server, a domain name server, and others. Also included (particularly in later versions) are numerous additional services and the tools to manage them, such as web server, wiki server, chat server, calendar server, and many others. Author: Surhone, Lambert M./ Tennoe, Mariam T./ Henssonow, Susan F. Binding Type: Paperback Number of Pages: 68 Publication Date: 2010/08/30 Language: English Dimensions: 6.00 x 9.02 x 0.16 inches