Investor News: Buy shares on the cheap

Bypassing a broker—whether a traditional one or a discounter—can save you some bucks on your next stock purchase. The catch is that you're limited to companies that sell their shares directly to the public, of which there are currently about 430, according to the American Association of Individual Investors (AAII). And your choices aren't restricted to small, untested companies trying to raise capital. The list of firms with direct-purchase plans includes household names such as Fannie Mae, Intel, Lowe's, Pfizer, Procter & Gamble, and Texas Instruments. Minimum initial investment amounts are as low as $25, but are typically $250.

Where do you go to find what stocks that are sold directly to the public? A list can be found at www.wall-street.com/directlist.html.