Forum Archive Index - March 2000

["Shakur, Shamim" <S.Shakur@massey.ac.nz>]

There have been numerous postings on DFM Securities lately, and as a
frequent user of their services, I feel obligated to make some comments:

DF Mainland is a discount brokerage, offering one of the cheapest
commissions in business. We should expect at least some minimum standard of
service from all providers, but realise that the no-frill internet brokers
is expected to offer less than high cost full service brokers. Even the
later (and we all) make mistakes, as we are only humans. DFM Securities have
made several mistakes in my trades. But whenever I asked them about it, it
has been settled to my satisfaction- until now of course. They should offer
a better service, which I tell them frequently. They laso have improved over
past 18 months as I have known them  

I also believe that those that have had problems with their orders should
possibly take their case with DF Mainland first. If not satisfied, post it
to warn others, even take it to enforcement authorities, if you'd like. The
people at MFM may or may not read this forum. But as  customers, we have
direct access to their personnel. I find it little strange to expect them to
read this forum (and many other forums) and then make a public statement on
some private concerns

As regards CGB float, I must give some credit to DFM people. On the morning
of the float, I wanted to put a market buy order. They rejected the market
order as they did not want clients to get killed by paying too much. That
saved me from paying almost twice the price compared to a few hours later.

On AQL, I am rather puzzled like most, but I don't think it is an ethical
question. After all the "blue horseshoe" is a hypothetical portfolio. It is
up to the individuals whether to take it seriously or not. On hindsight, I
should have taken it seriously to make over 200 percent return on an
annualised basis. AQL and SPE is an exception, so far, in that portfolio;
but then who knows what the future holds? Since AQL was removed from blue
horseshoe portfolio last week, price has dropped by 5-10%. But is that much
different from the so called blue chips stocks or the high-flying tech
issues? Conversely, AQL have not up significantly either after it was added
to the portfolio. Only thing that has happened is the enormous volume.
Whatever holds for AQL, it will certainly be the most talked about issue of
the year.

S Shakur

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