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Winnipeg Free Press (Newspaper) - February 15, 2001, Winnipeg, Manitoba 6 The Jewish Post b News Financial Guide 2001 Is the DoItYourself approach right for you By DOUG BROWN With the sig nificant in crease in the number of people investing in securities markets there has also been an increase in the variety and typeof serv ices there are two types of services offered by bro kers A full service broker provides the ability to buy and sell as well as provide information and A full serv ice broker will helpyou examine your financial situation and seta plan for A discount broker provides access to mar kets to buy and sell se but no A discount broker does not plan investment This service is for people who un derstand markets and can make investment decisions without The decision which type of broker is right for you is in large part a Some of the questions you should consider are How much do you know about markets What information do you have to make investment decisions Do you know how to read a financial state ment or prospectus Do you want to in vest in specific stocks or professionally man aged products such as mutual funds Do you intend to actively buy and sell securities or hold each purchase for a long time Whatamountofrisk are you comfortable with Do you need in come from invest ments for day to day needs or are your in vestments extra money that you can afford to lose Do you need pro fessionaj advice prior to making investmentde cisions In addition to under standing your own you also need to identify what type of broker will satisfy those Some factors to consider include Whether you want personal contact with a telephone access or access by home computer What commissions and other fees will be charged Fees varyand in many cases reflect the amount of service How quickly can orders be filled by the broker There can be delays in processing an order to buy or sell a security because of computer problems or high These delays may affect your ability to get a particu lar price when buying or selling a What happens if there is are problem with my account How quickly and in what manner will a com plaint be handled by the broker No matter what bro ker you you should take steps to minimize the risk of er Beware the Pump and Dump If you like to browse websites featuring chat rooms or bulletin boards devoted to investing in the stock be careful about hot tips you may These sites are the new tool for an old the pump and The usual scam runs like this An insider will leave messages about a little known The com pany will usually be listed or quoted on the OvertheCounter Bulletin The messages left will hint at inside information and unsupported success stories and price These promoters may pass them selves off as corporate in siders or Too often they are not who they say they are and the information is They are con artists promoting the stock for their own This is the If enough investors bite on the false information the stock price will Unlike blue chip stocks the price of thinly low priced shares can be moved significantly by rela tively small As the hypefueled share price goes up the group con trolling the majority of shares sell or dump their cheap shares into the rising Because there was no real value in the stock in the first place the price The new inves tors are left holding the This type of scam used to be lim ited primarily to boiler rooms where contact was made individually by The Internet brings this fraud immediately to a much wider Do not assume your online serv ice provider polices its investment bulletin Most do Re member you really dont know who are dealing with on the If you are looking for stock recom do yourself a favour and get them from a dealer who is trained and registered to provide this If you would like to be added to The Manitoba Securities Commissions Education information mailing list please or email the following information to The Manitoba Securities Commission Attention Ainsley Cunningham 1130405 Broadway MB R3C3L6 Fax 204 9450330 Email Address CityI Miss Province PC ror in your account by promptly reviewing account If there is an error imme diately notify your bro ker in It is also important to do your homework when investing and to monitor your invest ments on an ongoing It is important to use only reliable infor mation to make invest ment Mak ing investment deci sion based on informa tion received from un known sources such as internet chat rooms may not be and in some cases this information may be deliberately mislead remember that no matter where or howyou invest there is an element of Taking the propersteps can help but not eliminate the risks associated with invest Doug Brown is direc tor of Legal and En forcement with The Manitoba Securities If you have any questions concerning this or other securities related matters please contact the Commission at You are time is on your side Investor education is one of the primary goals of The Mani toba Securities Com During the last two the Com mission has formed partnerships with or ganizations such as Jun ior CBC Street Cents and un dertaken initiatives that focus on youth and the concepts of ini vesting and consumer Why young people We hope that by help ing to educatingyoung people they will be in a better position to work towards enjoying a cer tain life style because ofchoices that they make early on in their For example by saving and investing they can reach both long and short term goals such as sav ing for a an op portunity to fur thering their educa purchasing a home a car or planning for a comfortable re We also hope that by educating youth we might pre vent them from mak ing costly errors as they get older falling prey to investment con art We all know that making up for lost money when you are older is very difficult if not Where can youth turn to get valuable infor mation on investment related issues The MSC web site HYPERLINK Having guest speak ers from The Manitoba securities Commission address school classes or youth Watching CBC Street Cents February 2001 By participating in Junior Achievement school programs Requesting written material from the Com mission which has been developed specifically for a youth Three new brochures published The Manitoba Securities Commission has recently published three new The Commission is taking an active role in the area of public We are committed to providing Manitobans with information that will help them better understand the investment industry and enable them to make informed decisions when it comes to their personal fi says Ainsley Education and Information Coordinator with the Commis The first two brochures in the series have been designed with the investing public in About The Manitoba Securities Commission raises pub lic awareness of the role that The Manitoba Secu rities Commission plays as the provincial securities The Public Inquiry and Complaint Process informs the public as to the steps that they should take when they feel that they have a complaint to make and the process that The third brochure AGuideforNew Registrants has been designed for individuals working in the It sets out Commission best practices and the process that the Commis sion follows when a complaint is We feel that the brochures are a valuable source of information for both investors and in dustry We are really pleased with the number of requests received to datefrom the public and industry for the new This tells us that people are interested in taking an active role in learning more about the securities says Anyone who would like to obtain copies of the brochures can contact the Commission at 945
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