I am interested in investing in stock but dontknow exactly what I should research Am I better off w/ a broker?
I am very new to all of this but I am very interested. I have looked at many options like e*trade and sharebuilder.com but since I am new, am I better off to get a stock broker like Raymond James or someone like that? I also see it is best to do research on companies, but I wouldn’t even know where to begin with that. Can someone please give me some tips or advice. Thank you!
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March 6th, 2010 at 8:21 pm
You are best advised to go to a broker to start off. That will give you the knowledge to learn to invest. You will have a lot of people here tell you to do it online, but trust me you need experience to do so. Learn the market with the broker, when you think you have a decent hold on the knowledge then make your move to the internet. Take it slow and you will make lots of money. Good Luck!
March 6th, 2010 at 9:04 pm
Step 1: Read some books on fundamental (company and industry research) and technical (price charts) analysis. For a list of books that I’ve found useful, check out one of my June 08 blog posts. You’ll probably find such books in your local library.
Step 2: After you’ve picked up the basics, do some ‘paper trading’; i.e. theoretically buy and sell stocks by writing the prices and dates down in a notebook. Try this for 3-6 months to see how you are doing. You can visit Yahoo Finance and Google Finance to set up an imaginary portfolio.
Step 3: Visit stock market forums/groups and read the different messages to get a feel of the market
Step 4: Get registered with a broker and start actual buying and selling
Step 5: Don’t be too greedy! Get rich slowly.
Subhankar
http://investmentsfordummieslikeme.blogspot.com
March 6th, 2010 at 9:14 pm
I say go to the library and get some books on investing. It is not really a difficult concept to master once you learn the basics. And to get started I would say go with sharebuilder, they only charge a low transaction fee and no monthly minimums.
With researching companies all you need to do is get their stock symbol and you can pull those up on just about any financial website; even sharebuilder and you can see how their stock has been performing over a period of time.
March 6th, 2010 at 9:56 pm
Your question is refreshing and reminds one of earlier time, when I too was at this stage of seeking knowledge. Well gaining knowledge is an on going process where you would be learning new things every day.
But to start you off on the way, you may consider reading the following books to gain a better insight into various aspects of investment analysis and portfolio management:
Security Analysis by Graham & Dodd
The Intelligent Investor by Benjamin Graham
One up on Wall Street by Peter Lynch
Investment Analysis & Portfolio Management by Prasanna Chandra
Option, Futures & Other Derivatives by John C. Hull
As an introduction, you may start with a reading of:
Investing Made Simple by Anthony Loviscek
After you have gained the education; in the next step you may consider dealing with and through a known and trustworthy stock broker. And once you have gained a certain level of confidence with respect to you investment system/platform and the success rate of your transactions; you may consider utilizing the resources available through your bank and other trusted trading platforms available.
This is also to advise you that, the content of this reply is only indicative; and that the final call and how you go forward would be your own responsibility.
Sincerely,
Akash
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March 6th, 2010 at 10:28 pm
don’t buy any stocks,look at rare coins,gold or silver bullion and lock in a safe deposit box