Jenna Lee
Jenna Lee
Jenna Lee joined the FOX Business Network as an anchor in September, 2007, coming from Forbes.com,
where she served as a news anchor and reporter.
While there, Lee conducted interviews with various leaders in the business
community, both on-set and in the field, and covered multiple beats, including investing, the leisure industry, alternative
business practices and international news.
Prior to her stint at Forbes.com, Lee worked for NY1, serving as a reporter
and a segment producer for Fortune Business Report. While there, she also served as an associate producer for Inside City
Hall, a live nightly politics program, and as a writer for their morning newscast.
She is a graduate of the University of California with a Bachelor of Arts in English and Global & International Studies. She also holds a Master of Science degree in Journalism from Columbia University.
WATCH FOXBusiness.com LIVE with Connell McShane and Jenna Lee Weekdays @ Noon ET. Talk to us at FBNlive@foxbusiness.com
What was your first job?
My first job was working in an apple orchard. My brothers and I were paid based on the number
of bags we could fill.
Are you a spender or a saver?
I save for a rainy day but when it rains, I don't mind
spending!
What was the one thing you regret buying?
In hindsight, the money I poured into buying parts for the 1963 Chevy Impala I drove in college.
What was your biggest money indulgence?
My biggest indulgence was a round-trip ticket to Nepal, where I went trekking in the mountains for three
weeks.
What was the best money advice you received?
Always take your receipt!
FOX Translator
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Think telemarketer. Except, it's much worse because you can't avoid this call. Instead, when you get one, it's time to pay up, because the bet you placed with borrowed money is eating itself.
Buying stocks on margin is risky because you're essentially "playing" with someone else's money. If the shares you purchased tank, your losses will likely be more than if you had bought the shares with your own cash. This is why the New York Stock Exchange and the Nasdaq impose certain restrictions on the practice.
Initially, you¿re only allowed to borrow half of the money from your broker when buying on margin. You set up a margin account and from then on must keep a maintenance balance of at least 25% of the market value of your stocks.
If the market value of your investment falls below this minimum, you're required to make up the difference by either depositing money into your account or selling some of the stock. If your broker notifies you that you've dipped below this minimum, it's called a margin call.
If you fail to adjust your account accordingly, the broker is authorized to sell shares in your account to make up the difference. The broker can even sell other stock in your margin account to make up for the loss that selling the shares didn't cover.
As an example, say you buy $8,000 in stocks of any given company. You borrow the maximum $4,000 from your broker and pay the rest yourself. Now, if and when the total value of these shares changes, you must make sure you maintain at least $2,000 (25%) in equity. In other words, if the total value were to drop below $6,000, you¿d be in trouble since you only put in $4,000 of your own money to begin with.
