Andrew Allentuck

Friday, September 22, 2000

e-investing: How to Choose and Use a Discount Broker
by Rob Carrick and Guy Anderson
John Wiley & Sons, 256 pages

Rob Carrick, a Globe and Mail personal finance reporter, and Guy Anderson, a trader with a major Canadian discount brokerage, have produced a definitive guide to trading on the web with low fees. They argue that since discount trading is an expanding market force, adept investors should join the trend and save on commissions charged by full service brokers. How much? In one trade for 1,000 shares of an $85 stock, compared to a full service fee of $765, a discounter offers to trade for $25.

Saving fees takes some savvy and Carrick and Anderson duly provide it. They discuss risks, types of accounts, the mechanics of getting into online trading, commissions and fees, trading techniques, use of web discounters for buying mutual funds, research available online,and provide addresses for discounters.

e-investing provides both general discussions of the merits of online trading and detailed examinations of stock symbol language, liquidity of stocks, how NASDAQ handles certain price limit orders, security matters and much more. It is a stunningly wide and deep examination of the do it yourself stock investment process.

e-investing is the definitive Canadian manual for how to do it. Don't deal online without it.