Extropian Investing questions

Ray Peck (rpeck@feces.com)
Mon, 15 Sep 1997 12:42:46 -0700

Paul Hughes writes:
>I heard in passing recently, that you can now buy and trade stocks,
>bonds, t-bills, and gold WITHOUT A MIDDLEMAN. To me this would be
>absolutely ideal!

You can buy t-bills directly from the Treasury department. The only way
I know of to buy stocks without a broker is with a Super-DRIP. A number
of campanies have set up these programs so that you can buy stock
directly from the company.

I believe that the American Association of Independant Investors (I
*think* that's the name) can point you in the right direction.

>Also, is there a way (even in the works) of buying and selling in very
>small chunks? In other words, wouldn't it make more sense if the
>economy wuld allow invesment in increments of penny's? For example, I
>want to invest $2.36 in Microsoft. But, as I understand things, you
>have to pay at least in blocks of $140 (the price its currently
>selling at) or not at all. This seems to be a very inefficent and
>non-fluid restriction and one that favors the rich investor over the
>poor one.

There is no way that I know of to buy sub-shares.

The phenomenon you mention is exactly why stocks tend to rise after they
split: the split causes greater liquidity.

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