How to Buy Stocks Online

Video Transcript

"Hi everyone, this is Chris Markowski, president of Markowski Investments and host of the nationally syndicated Watchdog on Wall Street radio show, here to tell you, I don't know if I want to tell you this, how to buy stocks online. Interesting and true story. Back in the nineteen-nineties when I was working as an investment banker in New York, there was a lot of hullabaloo in regards to all these online and discount houses that were opening up everywhere. And I guess the conventional wisdom at the time was, geez, it's going to be terrible for the big brokerage firms. This is going to be terrible for financial advisors. All of these people are going to go and they're going to do their fifteen dollar trades. Well it didn't work out that way and I kind of knew what was up 'cause all the big investment houses actually funded these discount houses. It just brought more players to the table, and it also allowed for a lot of these big investment houses to take advantage of peoples' amateur type status in regards to trading. Make no bones about it, people, let's understanding something, that if a little league team decided to take on the New York Yankees, and they had the best equipment, the best bats, best balls, best gloves, you name it. If they played the Yankees a thousand times, they're going to lose a thousand times. So when you try to trade and move in and out despite all the bells and whistles that they're offering you online, eventually you're going to lose. It's the same reason why Vegas wins all the time. Please be careful. So go ahead, buy stocks online. Make sure you're doing it for the longterm, make sure you're not going in and out, and avoid all of the static. This is Chris Markowski, your watchdog on Wall Street."