ALABAMA SECURITIES COMMISSION

770 WASHINGTON AVE, SUITE 570

MONTGOMERY, ALABAMA 36130-4700

Telephone: (334) 242-2984 or 1-800-222-1253. Fax: (334) 242-0240

Email:  asc@asc.state.al.us.  Website:  www.asc.state.al.us

 

 

FOR IMMEDIATE RELEASE

 

Week Four----- The Facts on Saving and Investing Campaign

"What Investors Need to Know"

 

MONTGOMERY, ALABAMA  (April 24, 2002)  The campaign theme for the 4th week of April is "What Investors Need to Know Week."  Joseph Borg the Director of the Alabama Securities Commission said, "This year's campaign has great momentum with all types of news media getting the word out about facts on saving and investing.  Governor Don Siegelman has continually showed great support for this campaign and recently signed a proclamation, during a ceremony at the Capital, which declared April 2002 as Facts on Saving and Investing Campaign Month." 

 

Borg considers this year's campaign a total success measured by the increased response from citizens of Alabama.  Various organizations have called to schedule presentations for the upcoming months and high school teachers and organizations have asked for free curriculum offered by the Commission.  The curriculum was designed by educators throughout the United States and educational experts at universities and meets curriculum guidelines outlined for Alabama public schools.  The two curriculums offered are the Basics of Saving and Investing and a more advanced publication developed for high school economics teachers called Personal Finance for the Economics Classroom.  Borg said, "The greatest thing about these expensive to produce publications is that they are free to citizens of Alabama.  High school teachers upon request can receive a hard copy of the publication and anyone can download the curriculum for free in whole or part and print it at there own expense."

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Here are some great tips from the Alabama Securities Commission concerning "What Investors Need to Know." 

 

1.  If it sounds to good to be true it probably is!  There is no easy dollar to be made.  People's desire to make easy money, personal greed, or poorly researched sell-offs during market ups and downs often lead one to lose money or become a victim of fraud.  If you're not an informed investor you may as well take your money to the casino.  It takes a long time to accumulate great wealth and many folks take great chances by spending less time investing hard earned dollars than they would to pick out a new suit!

 

2.  Learn healthy habits for saving and investing.  Long term investment plans and steady savings habits will normally lead to prosperity in a growing world economy.  Even if you use an investment professional you should fully understand concepts like diversification, dollar cost averaging, the Rule of 72, and the different types of investment products available.

 

3.  Check out the person selling a security and the product being sold--before you buy!  The Commission advises citizens to call and check out the background, licensing/registration of broker-dealers, investment advisors and investment advisor representatives, or anyone offering or advising about a security product for sale.  Also,  check out the securities product for appropriate licensing/registration.  Unfortunately, most fraud victims did not use this free service before investing.  

 

4.  Caveat Emptier (Buyer Beware!). Yes, any one can be a fraud victim--no matter how intelligent, rich, poor, and regardless of race, religion, or any type of background.  Even, investment professionals have fallen victim to investment scams.  Some of the world's smartest people are dishonest--but, anyone can avoid becoming a victim of fraud by learning proven prevention techniques.

 

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Contact the Alabama Securities Commission for information regarding securities broker-dealers, agents, investment advisors, and investment advisor representatives, the registration status of securities, to report suspected fraud, or obtain consumer information:

 

ALABAMA SECURITIES COMMISSION

770 WASHINGTON AVE, SUITE 570

MONTGOMERY, ALABAMA 36130-4700

 

Telephone: (334) 242-2984 or 1-800-222-1253. Fax: (334) 242-0240

 

Email:  asc@asc.state.al.us .  Website:  www.asc.state.al.us .

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If you have questions or require more information contact:

                       

Daniel G. Lord

Education and Public Affairs Manager