Stock Market Noob

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irishScott

irishScott

Lifer
Oct 10, 2006
21,562
3
0
So I've still got soem HS Graduation money left over that my parents want me to invest. I know there are a lot of gimics out there, so I was wondering if anyone here knows any good books/tutorials to starting a portfolio.

Note: I am a COMPLETE noob. Ex: I only know roughly what a stock is and have no fvcking idea what a mutal fund is.

Edit: I have about 1.5k to invest. (my grandparents are generous and rich)
 
EKKC

EKKC

Diamond Member
May 31, 2005
5,895
0
0
it would help if you can say how much, $1000 you'd be better off in an high yield savings like those 5% online savings
if its something like 10k, then yeah go research some mutual funds if you want low maintenance and long term investments

www.investopedia.com is a good site to get you started
 
EKKC

EKKC

Diamond Member
May 31, 2005
5,895
0
0
do it like homer and buy pumpkin, but sell before halloween
 
D

Descartes

Lifer
Oct 10, 1999
13,968
2
0
What I would do:

1) Buy nothing! Instead...
2) Buy a book on stock market basics. It should cover everything you need to immediately know about how the market works. You could also try Investopedia as they have a collection of decent articles on the basics.
3) Buy The Intelligent Investor.
4) If you still want to pursue it, I would consider getting a foundation in technical analysis.
5) If you still want to pursue it, then get a brokerage account that allows you to virtual trade. Just something so that you can familiarize yourself with the whole idea.
6) Above all, do NOT get caught in the hype of stocks. Everyone knows someone that has a "tip", and chasing tips only leads you to an empty account. Remember that the only reality of the markets is the current price and go from there.

IMO
 
J

junkiefp

Senior member
Aug 2, 2006
387
0
0
Originally posted by: Descartes
What I would do:

1) Buy nothing! Instead...
2) Buy a book on stock market basics. It should cover everything you need to immediately know about how the market works. You could also try Investopedia as they have a collection of decent articles on the basics.
3) Buy The Intelligent Investor.
4) If you still want to pursue it, I would consider getting a foundation in technical analysis.
5) If you still want to pursue it, then get a brokerage account that allows you to virtual trade. Just something so that you can familiarize yourself with the whole idea.
6) Above all, do NOT get caught in the hype of stocks. Everyone knows someone that has a "tip", and chasing tips only leads you to an empty account. Remember that the only reality of the markets is the current price and go from there.

IMO
Click to expand...

Agree 100%
 
D

Deleted member 4644

I would suggest not investing. Put it in the bank and wait for the next mini-crash, THEN invest. I predict there will be at one semi-major crash in 2007. Then again, I don't know much about stocks and could easily be wrong. I am just basing off what I have read.
 
S

Schfifty Five

Lifer
Oct 20, 2005
10,978
44
91
Since you're young, I would just put it all in a penny stock and hope that it goes up significantly :p

I mean, so what if you lose 1.5k...in the long run that is not very much money. And if you hit big, it turns into lots of money.
 
her209

her209

No Lifer
Oct 11, 2000
56,336
11
0
Originally posted by: Schfifty Five
Since you're young, I would just put it all in a penny stock and hope that it goes up significantly :p

I mean, so what if you lose 1.5k...in the long run that is not very much money. And if you hit big, it turns into lots of money.
Click to expand...
1500 lotto ticks!
 
J

jakedeez

Golden Member
Jun 21, 2005
1,100
0
0
Honestly, screw it, spend the money. Have fun. Your what, 20 maybe? $1500 right now is worth more to you in fun then the $75 bucks you will make in a year at 5%...
 
L

LegendKiller

Lifer
Mar 5, 2001
18,256
68
86
Originally posted by: jakedeez
Honestly, screw it, spend the money. Have fun. Your what, 20 maybe? $1500 right now is worth more to you in fun then the $75 bucks you will make in a year at 5%...
Click to expand...

In 40 years it's 68k at 10%. Investing in the future isn't about investing 1,500, it's about getting into the mindset of setting goals, planning retirement, and ensuring that you may have some wealth to pass on to your kids. Or it could just be about the challenge. Short-term "spend it all" thinking is what gets you a doublewide when you are 60.
 
S

SampSon

Diamond Member
Jan 3, 2006
7,160
1
0
Originally posted by: LegendKiller
Originally posted by: jakedeez
Honestly, screw it, spend the money. Have fun. Your what, 20 maybe? $1500 right now is worth more to you in fun then the $75 bucks you will make in a year at 5%...
Click to expand...

In 40 years it's 68k at 10%. Investing in the future isn't about investing 1,500, it's about getting into the mindset of setting goals, planning retirement, and ensuring that you may have some wealth to pass on to your kids. Or it could just be about the challenge. Short-term "spend it all" thinking is what gets you a doublewide when you are 60.
Click to expand...
Tell me you had at least a little fun growing up?
 
L

LegendKiller

Lifer
Mar 5, 2001
18,256
68
86
Originally posted by: SampSon
Originally posted by: LegendKiller
Originally posted by: jakedeez
Honestly, screw it, spend the money. Have fun. Your what, 20 maybe? $1500 right now is worth more to you in fun then the $75 bucks you will make in a year at 5%...
Click to expand...

In 40 years it's 68k at 10%. Investing in the future isn't about investing 1,500, it's about getting into the mindset of setting goals, planning retirement, and ensuring that you may have some wealth to pass on to your kids. Or it could just be about the challenge. Short-term "spend it all" thinking is what gets you a doublewide when you are 60.
Click to expand...


Tell me you had at least a little fun growing up?
Click to expand...

rofl! Yes, I did and I continue to do so. I applaud anybody who can put away money like that.

 
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