Brokers and Online Trading

Introduction
Brokers share the undesirable reputation of lawyers, bankers and accountants. They earn a living by selectively sharing knowledge that the general public can't easily access. But, like it or not, they are the individual investor's direct link to Wall Street. Although technology and the internet have made it easier for individual investors to take control of their portfolios, the basic rule still applies: you need some kind of broker if you want to trade stocks and bonds.


In any profession, you will find people who take advantage of those who aren't in the know. Whenever you buy something, there is the possibility of being cheated. Furthermore, with a broker you purchase advice, which is hard to price. But not all brokers fit the swindler stereotype. In fact, there are many brokers who do a phenomenal job of guarding their clients' interests. There are also many discount brokerages that provide remarkable services for a reasonable price.

It's up to you to pick the broker that meets your needs. This tutorial will go over some important factors to consider when making the choice.

Brokers are the people who handle customer orders to buy and sell securities. In the same way that a grocery store acts as a middleman between shoppers and the companies that produce food, a broker acts as a middleman between the securities that trade on the market and the investors who buy them.
We should also mention that the word "broker" can be used in a variety of circumstances. It could mean an individual person you deal with or it can refer to a brokerage firm such as Charles Schwab or Merrill Lynch.

To be a stockbroker in the United States, you must pass two licensing examinations from the National Association of Securities Dealers (NASD): the Series 7 and the Series 63. These exams prove that a broker is informed about what he or she is selling and knows all the regulations and laws in the securities industry. Most countries have similar licensing programs.

The most important thing to realize is that brokers are salespeople. They get a commission when you trade. This will be our focus in the next section.

What really sets brokers apart is whether they are full service or discount brokerages.


Full-Service Broker
The full-service category includes all the names that spring to mind when we think of brokers: Merrill Lynch, Salomon Smith Barney, Morgan Stanley Dean Witter and others. They provide a variety of services, such as personal advice, retirement planning and tax tips. Full-service brokers offer a wider selection of investment products such as derivatives and insurance, as well as access to the company's research. All this comes with a hefty price tag. Full-service brokerages are expensive, with commissions around $150. Furthermore, full-service brokers are compensated based on how much you trade, not the performance of your portfolio. This can lead to your full-service broker advising you to trade when you don't need to. When this becomes excessive, it is called churning.

Discount Brokers
Discount brokerages charge a reduced commission and do not provide investment advice. The best-known discount brokers are Charles Schwab and TD Waterhouse. Fees are kept low because discount brokers offer fewer products. Brokers are paid on salary and not on commission. The business model is built on having an effective system and quality service in order to put through the most volume.

Online Brokers and a Blurring Industry
A few years back, some spoke of a third category of brokerage - those with online trading systems. Today, hardly a discount broker exists that doesn't offer online trading. Trading over the internet has definitely benefited the self-directed investor. Commissions have been reduced and individuals exert greater control over their accounts. Online trading has affected the industry by blurring the line between full-service and discount brokers. As discount brokers become increasingly common, they are providing access to high-quality research, while the old-school full-service brokers now offer online trading options as well.

Bioethics and Medical Issues in Literature (Exploring Social Issues through Literature)

Bioethics and Medical Issues in Literature (Exploring Social Issues through Literature)
Greenwood Press | 0313320403 | Edition - 2005-04-30 | PDF | 256 pages | 1 MB | Rapidshare & Megaupload

Tremendous advances in science and technology have made bioethical and medical issues central to contemporary philosophical debates. Many of these modern concerns have been anticipated and addressed to varying degrees in numerous literary works. Designed to meet the needs of high school students and teachers, pre-med and other college students, as well as any one in or entering a health care profession, this reference, a valuable addition to academic and public libraries, discusses literature as a means of approaching medical and bioethical issues. Chapters look at such broad topics as technology's creature, illness and culture, and end of life issues, with each chapter offering a close examination of two major literary works. Included are discussions of such critical issues as:
# Cloning
# Bioterrorism
# Organ Transplants
# Genetics
# AIDS and Sexually Transmitted Diseases
# Obesity and Heart Disease
# Civil Rights
# And others. Literary works covered include:
# Mary Shelley's Frankenstein
# Nathaniel Hawthorne's Rappaccini's Daughter
# Aldous Huxley's Brave New World
# Robin Cook's Coma
# Albert Camus' The Plague
# David Feldshuh's Miss Evers' Boys
# Ken Kesey's One Flew over the Cuckoo's Nest
# Alice Walker's Possessing the Secret of Joy
# John Updike's Rabbit at Rest
# And Margaret Edson's Wit. Special features include a chronology of events in literature, medicine, and science; a glossary of literary, medical, and scientific terms; and lists of movies, Web sites, books and journals, and teaching methods.

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Encyclopedia of Medical Genomics and Proteomics 2 vol.

Product Details

Hardcover: 1480 pages
Publisher: Informa Healthcare; 1 edition (December 29, 2004)
Language: English
ISBN-10: 0824755642
ISBN-13: 978-0824755645

Book Description
The Encyclopedia of Medical Genomics and Proteomics offers trail-blazing studies and authoritative contributions from more than 400 specialists on molecular diagnostics, genomics, microbiology, genetics, pharmacogenetics, pathology, forensics, tissue and cell typing, and disease susceptibility. It features coverage of key methods and technologies such as predictive genetic and pharmacogenetic testing and tissue typing for transplantation. It compiles recommendations, research, spanning critical subjects such as DNA sequencing, point-of-care testing, quality management, oncology, cancer screening, and ethical issues related to genetics.

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Medical Pharmacology at a Glance

Paperback: 102 pages
Publisher: Blackwell Publishers; 4 Rev Sub edition (April 2002)
Language: English
ISBN-10: 0632052449

Undergraduate textbook uses the double-page spread format to summarize the core principles of the field. Each section contains a clear illustration depicting the major drugs and their interactions with a particular body system and a concise account of the topic. Previous edition: c1997. Softcover.

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Medical Microbiology and Infection at a Glance

Medical Microbiology and Infection at a Glance
Publisher: Blackwell Publishing Limited | 2003-10-01 | ISBN 1405111739 | Pages: 128 | PDF | 17 MB

Medical Microbiology and Infection at a Glance is a concise and accessible guide to the field of microbiology and infection. Updated throughout, the second edition takes the reader through the underlying concepts of microbiology to the pathogenesis, transmission and clinical management of infection and disease. Following the now classic 'At a Glance ' format, topics are discussed on double page spreads. On one page, helpful memorable diagrams illustrate vital points and on the accompanying page, the text presents key facts and fundamental information.Starting with structure and classification, section one covers the transmission, investigations, therapy and control of infections. Section two and three cover the vital details of bacteriology and virology respectively. The final three sections include essential coverage of mycology, parasitology and systemic infection. The second edition includes three new chapters, which cover the use of antibiotics and treatment guidelines; vaccination and emerging infections as well as a new chapter increasing the coverage of Enteric Gram-negative bacteria.The second edition of Medical Microbiology and Infection at a Glance is an ideal resource for medical and biomedical science students, whilst students of other health professions and those in areas such as infection control will also find it invaluable. This book fits into the budget and reading time of busy students, and is recommended as primary or supplementary reading for a lecture-based course, and/or as a book for revision prior to examinations.

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