GREY:WFEMF - Post by User
Comment by
Happy4GudInfoon Mar 09, 2014 1:47am
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Post# 22299405
RE:Woulfe Mining Alternate Stock Trading Symbol WFEMF
RE:Woulfe Mining Alternate Stock Trading Symbol WFEMFSome "Advice if you are willing to take it". Thanks but no thanks. It is precisely because Wall Street is where "the big boys play" that I prefer to stay as far away from it as possible since the "big boys" are well known (and confirmed) to do all sorts of things to rip off the little guy. And whether U.S. GDP is 17 trillion dollars or 1.5 trillion dollars (as is Australia"s) really makes no difference. Plenty of people have made fortunes in the Australian junior mining sector. (for instance) And I don't know what broker commissions and buy-sell spreads (and floor broker cozy practices) and exchange rate costs are today (I stopped trading on the OCTQX about 4 years ago) but four years ago they were far higher or worse than if one traded directly in Canada. Generally speaking it is far better to trade double listed securities in the country of origin of the company. Some exceptions are Australian securities also traded in London. (moreover "heavy volume" is not necessarily a good thing; what is important is to have sufficient volume to be able to buy and sell in a reasonable period of time. "heavy volume" may be more relevant or interesting for day traders or for "high frequency" traders. For those like me (and I think others like me too) who prefer to buy and hold based primarily on fundamentals (but also entry point price) all I care about is to be able to sell later when I want. I don't want to have all sorts of people in there who are just going to mess up the basic fundamentals with their speculative ideas and practices. So I think it is much better to leave the U.S. exchanges to Americans. (not to even mention what happened to their banks compared to what did NOT happen to either Canadian banks OR Australian banks) (and why)