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talljasperman's avatar

Were can I buy junk bonds for practice?

Asked by talljasperman (18008 points ) July 18th, 2013

Maybe Greece, or Detroit bonds, or even Blackberry and Bre X stocks. I plan only to lose a minimum investment of $100 or less. Or do you have any suggestion’s on were to buy these stocks for a small fee?

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3 Answers

zenvelo's avatar

You’re in Canada, right? You need to talk to a Canadian broker. And you will have to pay a commission.

Don’t confuse bonds with stock. Bonds are debt, and stock is ownership in companies. Blackberry is a viable company, although the stock is cheap these days ($9.50 US). So for $100 you could buy10 shares for $95 and pay a small commission for about $10 or $15.

Bonds of bankrupt entities like Detroit or Greece usually sell for pennies, because it is most likely that debt holders will not get anything.

Bre X is nothing you can invest in, anyone that would sell you anything in Bre X would be commiting fraud.

anartist's avatar

If you really can afford to risk getting into this, and from what I remember of your situation, you cannot, open an online brokerage account.like E*Trade or Schwab

Look for one that doesn’t require purchase of a large umber of shares at once and doesn’t require a huge down payment.

anartist's avatar

As @zenvelo says above, bonds of bankrupt entities will not pay out. That is what bankruptcy is for. But marginal stuff . . . a risky game . . . and probably not for someone with nothing to lose.

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