Has anyone ever done well in the stock market without a broker?

Answer 1

You're kidding right? What does "done well" mean? Ninety percent of the brokers and mutual funds can't even match the index they track.

By trading and investing through an online brokerage, these people don't use a broker anymore.

There were 14.3 million online investors at the end of 2000, 17.4 million at the end of 2001 and 20.6 million at the of 2002. With these figures you can calculate your trendline, growing at 125% pace every five years. That would be over 35 million online traders today. The source is a book by David Hallerman.

Even if only 10% of these people are successful, you've got at least 3 million people out there that do what you ask.

Incidentally, not to brag, but since you ask, my account was up 41% last month, and 40% the month before.

Why would I want to use a broker, who can't do 40% a year, let alone per month, who can't even trade both sides of the market, who generally doesn't have a clue where a stock or the market is going, and only opines the party line? A broker is a clerk, not a trader. A broker is a cold-call salesman, not a researcher or analyst. He spends all of his time on the phone; how could he be knowledgeable about a stock or the markets, except what he's been handed by other departments?

Answer 2

There is no simple answer to that question. There are many different types of brokers (stock, insurance, real estate, commodity, etc) and the lines blur across the financial services field. I myself and a Financial Advisor, but that doesn't tell what I do or which types of clients I help with what type of issues.

I would have to answer your question by saying, Yes...you can make money in the markets without a broker. The question is...for how long and/or how much time are you willing to put into the venture.

Another question you want to ask is if you're just speculating (gambling), or if you're trying to get a higher return on your money in order to better take care of yourself (retirement) and family (education planning, untimely death, etc).

If you just want to "play" the stock market...you can open an online investment account and play with money you don't mind losing.

If you're trying to plan for retirement and/or putting your children through college...let a professional do it. The game isn't about just making money...it's about not losing ALL your money.

Good luck...if you have any further questions...feel free to email me at [e-mail].

P.S. I'll answer general questions for you, but I do not give financial advice via internet. :-)

Answer 3

I started in the market in 2002, and I've done fine; admittedly it's been a bull market. I've never had any advice from brokers, although I have done a lot of research on the web and reading investment books.

Answer 4

Oh yeah...my friends brother is a genius when it comes to the market. I don't suggest trying it on your own though unless you have been following the market and see the trends...set up a model and follow it to see how you would do if you invested in the things you were considering, if you do well with that then give it a shot. Just be careful the market is very unpredictable.

Answer 5

Yes. You just need to read up on it. See Suze Orman's books, she's very knowledgeable on this subject. It is pretty shaky right now, so be careful what you do in the stock market. Stay away from real estate stocks and anything going downward.

Answer 6

Many, many many people have done well without a broker.

Answer 7

I'm doing better than my 401k plan and the general markets.

Answer 8

Yes. There are plenty of mutual funds out there, some of which are quite good.

Answer 9

my husband.