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Berkshire Hathaway Inc. Message Board

  • lanikai76 lanikai76 Jul 5, 1998 2:00 PM Flag

    NEED ADVICE;

    I'm going to make my first real inverstment with
    WEB this week. I have enough money now to purchase 1
    share of A or 30 B. I will not need this money for
    about 10 years. Does anyone have an opinion on which of
    the shares is the more prudent buy? or, or in fact
    does it not really matter which is bought? thanks in
    advance . lanikai76

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    • I never claimed to be "rich", in fact, I've claimed the oppisite. My 5 shares of "A" might make things easier someday but I think "rich" is somewhere in the vicinity of a billion dollars.

      Greg

    • I bought my shares in 1992 & 1993. I used Schwab
      Telebroker for a 10% discount off the normal $55 commission
      (49.50).

      I WISH I'd bought in 1990 when I was first "tipped"
      off on BRK. The stock was 4000 per share and i just
      didn't think there was ANY way it could be worth that
      much, especially a company that owned a furniture store
      and a shoe company. Instead of only having 5 shares
      I'd have 20. So much for those who say it doesn't
      much matter when you buy if you HOLD long
      enough...

      Greg

    • I have an account with both Brown and Datek,
      though so far I'ved used Datek just for free quotes. I
      think Brown is much better. The bid/ask quotes I get
      from Datek are often very different from quotes I get
      from other services. For instance, on a $15 stock I
      own I often see a spread of perhaps a dollar so I
      check some other quote services and their spreads match
      each other and are in a much tighter range. If you use
      Datek for real time quotes I can understand why your
      perception of real time quotes may not be very good. You may
      want to try http://www.freerealtime.com for free
      quotes. The site is busy sometimes but as reliable as any
      free sites I've used which offer unlimited free
      quotes.

      And I have a regular and an IRA at Brown, neither of
      which are required to make a minimum number of trades
      per month. What I also like is the $5/$10 commissions
      are available whether I place an order through the
      internet or with a broker over the phone. I like Brown
      better than any broker I've used before, and I've used
      many. I've often wondered if Datek might offer better
      executions with their use of an ECN, but their quotes so
      often seem to be skewed and I hear complaints about
      their customer service I don't want to take that risk.

    • Hi Wizard,
      I only wish you were right.... I'd
      like to find a flaw in NAPART's posting,... if only to
      feel better knowing that I am richer than he. :-) (I
      am envious that he picked up BRK at less than half
      of what I did)

      But... To back up Gregs story,
      Schwab's 29.95 commission was in force for quite a while
      before the change in January. But you had to have an
      E.Schwab account. If your account was SchwabOne or
      anything similar, you paid something like $45 per trade.


      >>I think brownco.com's $5 is the best out there.
      <<
      Yes! But it is only for market orders. You need to be
      very careful with market orders. Real time quotes are
      really not real time.... it is real time in relation to
      the brokers computer system.... On heavy days,
      sometimes it is delayed by several minutes.... sometimes
      you get a quote that's 30 minutes old. MAKE SURE to
      check the time with real time quotes. (I placed a
      market order with Brk once, and it didn't fill for more
      than 1 hour... and after it ran up more than $1000!)

      Brownco.com charges $10 for limit orders. In which case you
      might be better off with Datek. Also, Brown requires
      min $$$ of $15k and a min # of trades/month. It's not
      for everyone...

    • You can buy/sell BRK shares online at Ameritrade for $8.

      RMR

    • I bought my 'B' shares right on-line, with Waterhouse....$12.00 Commision.

      I believe you can buy the 'A' same way, same commision.

      May the WEB be with you.

      T.C.

    • Good job with MCOM!!
      Yeah... I got on the
      bandwagon too... but the otherway! Good ole Paul decides he
      wants to spend a few bucks on a wireless modem company
      and the stock shoots up like a monkey on
      Viagra!

      So, I shorted the hell out of it... I had to call
      Schwab because they gave me this pitch that they didn't
      have any more shares to short...

    • depends on broker. sometimes the coding is strange because of a and b shares. t.rowe price handles it, for instance, without talking to broker. but you have to know code.

    • They had a little online service called E-schwab
      back then...

      Greg

      PS: I sold one share
      (IRA) last year for 44,000 to pursue what I thought was
      going to be a winner (MCOM). MCOM went from 4 1/2 to 17
      and I bailed. In the mean time BRK went from 44 to 52
      and I got back in via the web. MCOM is back down to 8
      or so, Paul Allen bought half the company, I got
      lucky.

      Greg

    • call them (Schwab) on it. Tell them they need to stand by their service guarantee. What's the normal commission? $54.00

      Greg

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BRK-A
209,251.00+1,142.00(+0.55%)Oct 24 4:00 PMEDT

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