Posted on 08/12/2009 1:15:30 AM PDT by Slings and Arrows
I would very much like to learn how to invest my money in an informed manner - stocks, bonds, commodities, money markets, etc. The problem is that I don't know where to start.
Can any Freepers please recommend any books, websites, etc., that could help me get started? Assume that I'm starting from zero (not Zer0): I need to learn the language, the definitions, the data investors use in picking their investments, everything. I'm not looking to get rich overnight (although I wouldn't object); what I'm looking for is how to create a stable, long-term personal investment strategy.
Any help is appreciated.
Any advice is appreciated.
[Bracing myself for the jokes about 419 scams...]
Nigerian princes.
Heck, I want/DESPARATELY need a job working on the ‘puter from home!
Seriously.......best of luck with your venture here. Hope you do well!
Thanks! It’s not so much a venture as long-term retirement planning.
They put out a dizzying list of Premium products (links on left hand side): once you sign up for one of these you would get the Digest as well. Getting a premium product is the way to go: you get solid advice and background on the stocks to buy. And more importantly - advice on when to sell!
Some products have a high price tag (note: I don't say expensive - you tend to get what you pay for with Stansberry), others are cheaper. You can find out more about the products from the links.
Also check out the 'Daily Crux' links on the RHS of the page. FReepers post articles from the Crux pretty often.
Hope this is helpful.
Read "Money of the Mind" by James Grant -- anything by Grant will be an education, a delight to read, and a reality check on the big picture.
Do your own research. If you can't make sense out of it, it's not for you.
Mucho appreciation - I’ll check them out.
If I had any money, I would probably invest in gold, or maybe better, Silver.
An acquaintance of mine here, an Aussie, is part owner of
a gold mine in west Australia.
It has been inactive for past few years, but now coming
back online, as soon as the refiners can get back in gear.
A respected gold newsletter that he gets, says that Gold could go as high as $6000. If that is AU dollars, it would
be 5000 US.
Water~Ammo~Food/ETC.~ in that order...;0)
Water~Ammo~Food/ETC.~ in that order...;0)
Doing my own research is my plan - I just need to know what to research first. Advice appreciated.
Annuities are the best bet.
Safety
Guaranteed Growth
Tax Deferral
I am an insurance agent if you would like further info, send me an email or private message. I don’t think I can post my website on here.
TheArizona
Gotcha - thanks!
Precious metals are a possibility, certainly. Thank you!
There really is a good book called “investing for dummies” or investments for dummies. It’s like Investment 101, and a good source for terminology.
That may be the sort of thing I’m looking for. More than anything else, I need to learn the culture and the language. My appreciation.
learn to follow your judgment. that’s what doing your own research amounts to - discerning and following valid hunches.
learn to follow your judgment. that’s what doing your own research amounts to - discerning and following valid hunches.
I have a nice bridge you can buy which will teach you a lesson you’ll never forget.
As a scientist, I absolutely agree. I’m trying to get enough knowledge to inform my hunches.
Don’t bother. Obama already has a plan for investing your money.
:^P
I thought you nailed it here.
Check out http://thinkorswim.com
They have one of the best trading platforms available and lots of free information and videos on stock/option trading. They also have more formal classes available that won’t set you back an arm and a leg. You can set up a papertrading account for free to get practice and experience before you use real fiat papermoney.
http://smartflix.com has some investment videos.
Invest as much as you can through an IRA account or the like.
Your age expressed as a percent should be the proportion of investments in fixed income vehicles and 100 minus your age should be the percentage invested in stocks. The mix should be rebalanced on an annual basis.
All of you investments should be diversified among industries and even among countries.
Be wary of some age old strategies which were grounded on conditions which have significantly changed. For example the "true and tested" buy-and-hold strategy was based on much higher tax rates and much higher stock broker commissions. IRA accounts totally eliminate tax considerations and can be established at discount brokers. An example of people still suffering from the buy-and-hold strategy is the Japanese Nikkei Index which hit a high well above 36000 in the late 1980's and is presently lingering about 10000. Thus, be flexible.
One risk you will rarely hear explicitly mentioned is the risk of withdrawal. If a large portion of your investment is trading at a loss and you have to make a withdrawal to meet an emergency or mandated by law, you will be diminishng your investment base by a much higher percentage. Thus, the need to remain flexible.
lol. yeah, investing 101.
Service Temporarily Unavailable The server is temporarily unable to service your request due to maintenance downtime or capacity problems. Please try again later.
Is this routine, or is FR under some kind of attack?
Here is a link http://www.investopedia.com
If you goggle or yahoo investopedia it will come up with a list of tutorials, also msn.com and click on money tab has some tutorials on investing 101.
Good luck
IF you take a class or seminar, you'll get advice that used to work, until everyone else found out about it, and then started selling/teaching the book/method to all the other people in the seats around you.
If you go to a banker, you'll be advised to invest in whatever is most profitable to the bank. Asking a property investor will get you offered “bargains” on the “investment properties” he's losing money on, or otherwise can't unload. A stock broker will....
SO, bottom line, I would recommend that you invest in hard assets; the larger the caliber, the better.
Much obliged. I was thinking about my experiences as a computer scientist.
I suspect it’s just the server having hiccups. I’m sure JohnRob will fix it when he wakes up.
I thought you maybe able to offer some advice
These ideas are what I am looking for. Thank you all.
Indeed, it seems "papertrading" might be redundant.
Care to invest in a Tokyo hot-dog stand? ;-)
Will I have to wok the dog?
Er... no, that’s Korea.
Japanese doggies are pampered little dears that even have their own restaurants.
Yeah, I know. I just can’t resist a silly joke.
Once you get the terminology down and understand how to execute the mechanics of basic trades you’ll have to deal with the most difficult component. Yourself.
There are several good books which delve into the psychological aspects of trading. One is “Reminiscences of a Stock Operator” by Edwin Lefevre. It’s considered by many to be the bible of trading. It reads more like a novel than some dry trading book.
Another great book is “The Disciplined Trader” by Mark Douglas.
Both books explore how a trader’s worst enemy is himself and discuss the importance of a plan, stops and rules.
They should be available through Amazon. Good Luck!
“I’ve been seeing this a lot lately”
I’ve seen it too, from multiple ISPs. I’m also getting occasional server timeouts.
“Much obliged. I was thinking about my experiences as a computer scientist.”
Uhoh - make sure you read those two books about trading psychology because if you are anything like me, you analyze the hell out of everything and that can lead to trouble in trading. Don’t ask how I know that :)
PM sent.
Nothing wrong with that. The hard part in investing is admitting your analysis was wrong and redoing it. It's far too easy to cling to a failed theory instead. On the flip side, it is important to cultivate your own theories and not rely on people with axes to grind. I have made plenty of mistakes following people with an emotional like or dislike for this or that. The best advice will come from someone who is completely unemotional about the situation.
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