From David Duty;  March, 2003
You might be wondering why I'm opening a brokerage firm and I've thought long and hard about it for many months. It's because of the decreasing level of services at brokerages, the lack of continuity in rate structures, and the wide variance in broker expertise with my course material. But the main reason is that most, not all, brokers seem to care more about how much they make, than how much their clients make. To me, this is putting the cart before the horse. First and foremost, brokers should be concerned about their client's pocketbook more than their own pocketbook.

In talking to others who own brokerage firms over the last few months, I was shocked to discover that all they talked about was how much money they made. Not once did the conversation come up about how much money their clients made, and they didn't even seem to care. There was constant reference to formulas to figure out how much money they make based on how much equity (client's money) the firm has on deposit. One person even told me his goal was to convert 10% of their equity per month into commissions! Yes, per month! Talk about "churning" clients. They also discussed "little ways" to add on fees and pass them through to the client to increase their own bottom line. We are not going to do that. We won't charge any fees. That's right NO FEES, just one flat rate commission INCLUDING ALL FEES. Not once was there a discussion about how to help their client make money! That's right, not once. Well it's time to change all this, and the time is NOW. Common Sense Capital is about to shake up, or I should say "wake up" a whole lot of people.

Zig Zigler, a very wise man, once said, "You can get everything in life you want, if you will just help enough other people get what they want." This statement seems particularly applicable to the brokerage business. During the last four years of teaching people how to trade and doing the seminars, many people have told me that I've truly made a difference in their lives. That's what drives me, to make a difference, to do something that can change people's lives and help them realize their full potential. If I can do that, then I'm successful and it's all been worthwhile. The brokerage will strive to first and foremost help YOU make money. At Common Sense Capital, the client's well being will always come first!

As one of my students, you know that I'm a firm believer that you must have a complete understanding of the basics before you trade. I think that my course does a pretty good job of that; or at least I hope it does. But after that, you MUST have a broker who has the desire to help you take that knowledge and apply it to real money trading. To take whatever time is necessary to make sure that you understand what you are doing, and to make sure that what you are doing is within YOUR business plan. A good broker should talk you out of a lot of trades that you want to place, rather than calling you everyday (I promise we won't do this) and trying to put you into a lot of trades that you don't understand and don't need to be in anyway. Remember, the bottom line is that you MUST learn to trade for yourself; our brokers are here to help you learn, and to keep you on track to reach your goals. In essence, they will be your partner, not just your broker.

You see, I firmly believe that there is a successful trader in each and every one of my students. It's our job to bring that trader out into the open, and we will do everything possible to make sure that happens. You see, your success ensures our success.

I have hand selected a broker, familiar to all of you, to help me make this a reality; Kirk Kristian. Kirk has distinguished himself by treating my students with a genuine concern for their well being. He has unselfishly given his time and shared his knowledge at the Students Forum as well as helping with the chat sessions and some of the seminars. Equally as important, he has demonstrated his ability to relate to my course and it's objectives.

Kirk will manage the office in West Point, UT. Since we will only have one broker initially, we will be limited in the number of new clients we can accept because I want to make sure that Kirk has adequate time to spend with everyone who opens an account.  He will help you design a business plan, or tweak the one you already have. Once that is accomplished, he will work with you to instill the necessary discipline to become a successful trader.

I'm confident that this is the right move for all of us, and we will consistently strive to bring you a constantly expanding array of tools and benefits to help you achieve your goals. I want to hear from you PERSONALLY if you ever have any questions or concerns about the brokerage. After all, my brokers work for you, not me.

Common Sense Commodities & Common Sense Capital; it makes Total Sense. I'm proud to have you as a student and I hope you will be proud to have us as YOUR brokerage firm.

Best wishes,

David Duty
Common Sense Capital LLC