"Broker refused" to buy for client. Get a new broker who
won't override your investment decisions.
BTW. The broker may have been inexperienced and mis-interpreted
the buy restriction. That brokerage may have been invalved
with underwriting/financing Osicom. The buy restriction
probably applied to the broker HIMSELF buying Osicom due to
conflict of interest. He probably was allowed to buy FIBR on
his client's behalf. IMO.
He probably filled out a profile when opening his account with this broker and told him he was a conservative investor. They do this to protect themselves from being held liable for your losses. I always tell them that I like high risk investments so that my account is open to trade anything.
Brokers come in many colors, shapes, sizes and IQ ratings.
Most of them have about as much real knowledge about economics as my Pomeranians. They tend to snap at peoples heels the same way too. Some of them are honest and like your broker look at prefab printouts to do their thinking and then they take your money to run your trades. It's not possible for them to know all the details about all stocks or even sectors.
The broker you are using is, like some have stated, trying to decrease your risk of losing money.
My suggestion would be, if you have a good relationship with your broker, is to have him do the footwork on the stock and see if he thinks on his own as well (he may not agree with the canned rating). Depending on your particular timeframe and growth/risk curve you may or may not want a different perspective.
I'll see all you Osicom faithful when you clean up.
I have to admit the Elf fellow really thinks clearly and conceptually for such a tender age. If he really is a young pup he will go very far and live quite well. The points made about this company and its great products are IRREFUTABLE if you catch my drift. Do not bet against the tide of this technology. Some people ride a swell up and down but the tidalwave of bandwith is going to sweep these folks to golden shores.
We do what we do! That's the long and short of it. Sometimes we win. Sometimes we lose. If you think your broker is wrong, go over his head (i.e., change brokers). Anyone with any experience
in the market knows that more often than not we're talking about
a crap-shot or a coin-toss. If you're not a gambler, you should
get into mutual funds. Peace!
But this young investor probably asked for broker's
advice. And he got it, right or wrong. If this
person really want stock, he buy it, no problem.
Now, who is going to have the last word on this one?
This subject sure brings up a lot of emotions!!!!!