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Lecture Modules

Your program includes an entire syllabus of written lecture modules available on your computer, which are specifically designed to take you step-by-step from a position of no knowledge up to the point where you can make profitable and well-informed share selections and timing decisions for yourself.

Click to View the Syllabus. Each lecture is structured so as to make your learning experience as easy and fliud as possible. Consider the following extract from Introductory Module 3 “Buying and Selling Shares”: Dealing Costs: We suggest that you save up until you have R10 000 or more in your stock broking account and then buy your first share. The reason for saving up this much money is that most brokers have a flat minimum fee for making a transaction - usually around R140 (known as brokerage). Because of this, if you make a very small transaction - say, for R1000, you will end up paying about 15% in dealing costs to your broker. A R10 000 transaction will probably cost you about the same - which would then only be about 2% of what you invested. If you pay very high dealing costs, then, obviously, your shares will have to rise considerably for you to recover that cost before you are "in-the-money". There are other dealing costs aside from brokerage. There is a charge for the "Strate settlement cost" of approximately 0,005%, a small contribution (0,0002%) to the Investor Protection Levy and VAT on all these charges including the brokerage. When you buy shares you will have to pay 0,25% Securities Transfer Tax (the old Marketable Securities Tax) as well.

You will notice that certain words have been highlighted in blue. These are words which you can find in the glossary. If you just put your mouse over the word your program will fetch the short definition from the glossary and display it for you. If you click on the word then the program will collect the short definition and the long explanation of the word and display it. So, for example, if you click on “in-the-money” in the lecture module a window will pop up with the following:

In-the-money: A phrase used to describe the situation where an investment instrument such as a future, option or share can be sold for a profit. This term is used in all markets, but particularly in the derivatives market. An option, for example, is in-the-money if it can be sold for a profit. You should use the "Investment Calculator" included in your software to calculate the price at which an investment will be in-the-money before you buy.

This will tell you how much, in percentage terms, the investment must go up before it becomes profitable. The opposite is "out-of-the-money".