From: utzoo!decvax!harpo!npoiv!eisx!rg
Newsgroups: net.invest
Title: Re: First Jersey Securities: ??
Article-I.D.: eisx.473
Posted: Mon Dec 20 15:55:24 1982
Received: Tue Dec 21 08:28:10 1982
References: houxh.125

FJS sounds like an investment company that I am involved with.  Actually
they are an underwriting company, Blinder & Robinson in NYC.  An under-
writing company for those who don't know, make the shares of a new company
public.  Most of these usually are offered at 10 cents initially.  Some
make it big, and some die.  Commissions are very small ($5.00 a transaction).
If you can hit a company that will grow, you can make a bunch.  However,
lets not fool ourselves, this is extremely hard to do.  So where does a
company like this make their money?  I think the lies in the fact that
the company makes a market in the stock that they sell to you.  That is,
they have bought up a lot of shares (or are given them as a fee for under-
writting the issue).  When they sell it to you at the market price they
are making a profit.  So they do have a strong motive for giving you the
run on.  But then again no brokerage firm is without its bad guys.

P.S. I haven't realized any gain from my dealings with this company.  But
then again I just bought in.