Lets say a stock broker randomly calls your house and asks for an cash investment for a stock that he thinks will go up. If you agree with him and invest, you would have to pay a commission to the broker. But whats to stop the investor to tell the broker that he is not interested in buying the stock and then hangs up the phone, then the investor goes on and buys the same stock the broker was pitching on his own to avoid the commission?
I don't think you can buy stock without using a broker. However, if you can, you can do what you suggest.
I am a former federal and State prosecutor and have been handling criminal defense and personal injury cases for over 18 years. The above answer, and any follow up comments or emails, is for informational purposes only and not meant as legal advice.
If a random person is calling you up to suggest you buy a stock, do you really think it is a good idea? You may want to watch the movie Wolf of Wall Street. It is all about people who do this kind of stock promotion by randomly calling people.
So yes, you can buy the stock without paying commission based on random unsolicited advice, but you do so at your own peril.
I agree with the other attorneys. If someone is cold-calling you with an "investment opportunity," I think you're in a position that wouldn't really come out positively for you if you chose to invest.
If you're interested in investing in the stock market WITHOUT the assistance of stock brokers, financial planners, or other financial experts, you're welcome to do so, but remember that the only one accountable for any mistakes in those investments would be you.
There are ways to minimize your commission costs and strategies to invest at a low cost. Maybe you should explore those and read up on investments rather than worrying about the investments some stranger is feeding you over the phone. I assure you that is not the way to accumulate wealth in either the short term or in the long term.
Invest carefully. You've worked hard enough for your money that you want to treat it like you would one of your children.
This does not constitute legal advice or the engagement of my services as an attorney.
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