Buying Shares - first timer

cjmcork

Hi, I'm thinking of buying about €1k worth of bank shares but haven't a clue what to do, who to contact, etc etc.........I'd probably have a better clue on building a house.......tips, advice, etc greatly appreciated.

Joey the lips

cjmcork wrote: »

Hi, I'm thinking of buying about €1k worth of bank shares but haven't a clue what to do, who to contact, etc etc.........I'd probably have a better clue on building a house.......tips, advice, etc greatly appreciated.

HI PM I am thinking of doing the same thing will you PM me any tips you get

rugbyman

cjmcork wrote: »

Hi, I'm thinking of buying about €1k worth of bank shares but haven't a clue what to do, who to contact, etc etc.........I'd probably have a better clue on building a house.......tips, advice, etc greatly appreciated.

It seems you cannot just walk into a bank and buy shares anymore. you need to set up a share dealing account with Davys or Goodbodys. you can get the forms sent to you by asking in the Bank.

You can also open an account with National irish bank and set up a custody account, into which you must deposit funds, then within a day or two you can trade on line. i think AIB have a similiar service.

either of these routes involve ID and stuff.

regards Rugbyman

hco

For the amount you are buying the procedure is actually much simpler. There are a lot of different options of who you buy them through and different costs depending on who you buy them through.
I used computershare. Very simple and straightforeward. They are very helpful. Yoou just lodge money into an account and then tell them which shares you want to buy, I did it over the phone and it was done there and then. They will then send you out the documents etc. Because you are buying such a small amount there is no need for ID or opening special accounts etc.
Good luck!

cjmcork

that's great - thanks for the tips.......think I'll be sticking with davys or goodbodys (prefer to stick with one of those I know)............anyone got ideas re fees?

daveirl

This post has been deleted.

Einstein

rugbyman wrote: »

It seems you cannot just walk into a bank and buy shares anymore. you need to set up a share dealing account with Davys or Goodbodys. you can get the forms sent to you by asking in the Bank.

You can also open an account with National irish bank and set up a custody account, into which you must deposit funds, then within a day or two you can trade on line. i think AIB have a similiar service.

either of these routes involve ID and stuff.

regards Rugbyman

not the case unless its changed in the last month or so?
bout 2k about 6 weeks ago, just walked in to the bank to customer service.

Boston35

I dont want to discourage you but if you are looking to trade with goodbody's or davy's the fees will drastically cut into your capital of 1,000. The fees average between about 40-70 euro per trade. You may want to look at e-trade or ameritrade. Setting up the account may be more difficult if you are not an american citizen but will save you in fees. 8 dollars per trade for ameritrade and 12.99 for etrade. Just a suggestion. I assume if you are investing in financial stocks you are looking longer term. Best of luck

sickpuppy32

If you PM me i'll give you the number of my stockbroker - daveys and the other big guys have large fees - if your buying shares - pharmaceurticals is the way to go at the moment

tcjjr

not worth your while, between set-up fees, commissions & stamp duty you will need to make a hefty return before breaking even. Try a discount broker/online to keep costs low.

sickpuppy32

my first share purchase was 200 euro worth of shares - think the setup costs was 50 euro, i own nearly 25K worth now, all done in small lots over 5 years - tip is to buy shares of companies that historiacally give regular and high dividends - that way even if the share price goes through the floor you'll still get a yearly share of the profits

Joey the lips

sickpuppy32 wrote: »

my first share purchase was 200 euro worth of shares - think the setup costs was 50 euro, i own nearly 25K worth now, all done in small lots over 5 years - tip is to buy shares of companies that historiacally give regular and high dividends - that way even if the share price goes through the floor you'll still get a yearly share of the profits

Brilliant information thanks- What company pay these regular and high dividends. How can you tell?

sickpuppy32

do your research, website like themotleyfool.com give great guidance on whats hot and whats not. BMY shares have given a dividend out every year for nearly 100 years for example and are giving a really good dividend this year especially. Noone is buying stocks at the moment cause of the financail crissis but it means that shares like BMY that should be 50 dollars are a share ae currently trading around 20 dollars

sickpuppy32

CompanyMarket CapitalizationForward Annual Dividend Yield
American Express (NYSE:AXP)$14.1 billion5.9%Black & Decker (NYSE:BDK)$1.4 billion7.1%Bristol-Myers Squibb (NYSE:BMY)$39.3 billion6.2%Caterpillar (NYSE:CAT) $15.1 billion6.7%Fortune Brands (NYSE:FO)$3.9 billion6.7%

here's a few more
http://finance.aol.com/quotes/bristol-myers-squibb-company/bmy/nys is a good website to start from