pvl (12/20/82)
I have dealt with 1st Jersey Securities (FJS) for about a year now and still haven't decided whether I'm being hustled or not. Twice now I have put $500 into a "hot" stock which was turned into $650 in one week. You'll have to decide if that's good brokership or shady dealings especially since I rolled one "profit" over into another investment (i.e. purely paper profit) and I had to fight with the broker for 30 minutes to get a check instead of more stock on the other. My FJS broker certainly seems to work hard and their commissions are only $2 per transaction, but I DEFINITELY don't send them any money that I can't lose suddenly. After all, I enjoy Atlantic City every so often.... You'll have to make up your own mind, but handle with care. Pete LaMaster houxh!pvl BTL HO x0040
rg (12/20/82)
FJS sounds like an investment company that I am involved with. Actually they are an underwriting company, Blinder & Robinson in NYC. An under- writing company for those who don't know, make the shares of a new company public. Most of these usually are offered at 10 cents initially. Some make it big, and some die. Commissions are very small ($5.00 a transaction). If you can hit a company that will grow, you can make a bunch. However, lets not fool ourselves, this is extremely hard to do. So where does a company like this make their money? I think the lies in the fact that the company makes a market in the stock that they sell to you. That is, they have bought up a lot of shares (or are given them as a fee for under- writting the issue). When they sell it to you at the market price they are making a profit. So they do have a strong motive for giving you the run on. But then again no brokerage firm is without its bad guys. P.S. I haven't realized any gain from my dealings with this company. But then again I just bought in.