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| *Ostroff, Fair and Company>>>Investing |
Is there a class or something I can do to learn about how to invest and learn about stocks & the trade? |
For stock Im not sure what all the acronyms mean and the lingo. I also want to invest money and am unsure how to take the appropriate and smart way of doing so. A good place to start is by reading all of the Money101 series on cnn.com. Here is the website: http://money.cnn.com/magazines/moneymag/... While these do not have a lot of specific info, it will familiarize you and provide answers to basic terms and concepts. From there, read EVERYTHING. Reading financial forums online is interesting for its various view points, but dont trust anything, find out for yourself. Before you know it, you will be a well informed investor. Good luck! read different books. Don't go to a class because whoever is presenting will probably sell you software, books on CD, or whatever else that he/she did in the past. It's so ridiculous that seminars are allowed to be held promoting that crap. It's good to hear different perspectives from successful people, but no 1 person has all of the answers. It's not a sciene either...people REALLY REALLY REALLLY need to understand that. I am in banking Read my free book on investing. It focuses on retirement investing, but you will pick up the basics of stocks, bonds, and mutual funds. Click on my profile and read my info to get the website. The book is in PDF format. www.investopedia.com also has good tutorials Check out your local college or junior college, and look for classes in finance, economics, and business. There's a lot more to learn than just one seminar or lecture can teach you, so try enroll in as many courses as possible. In the meantime, read up on stocks through books such as "Mad Money" and "Real Money" both by Jim Cramer. Be careful of lectures and seminars by motivational speakers, if they were so good they wouldn't need to waste their time selling tapes and books. Good luck I think the best book for beginners is David Bach's book "The Automatic Millionaire". There will be several important concepts here, such as living below your means, the importance of having your ongoing investments automated, the importance of diversification, and good long term investments. If you only read one book, this is the book. There's a ton of people out there spouting strategies on how to invest. Virtually all of them are bunk. To get an idea of what you should be (and should not be) investing in go through the 12 step program of Index Fund Advisors online tutorial here: http://www.ifa.com/12steps/step1/... If you want to learn more, I would read Burton Malkiel's classic book "A Random Walk Down Wall Street", and finally William Bernstein's book "The Intelligent Asset Allocator". In Bernstein's book the math can be somewhat painful, a good knowledge of statistics really helps, but if you can get through the early chapters the later chapters have very specific advice on what types of funds to buy and how to think about what funds you should own in your taxable accounts and which to own in your non-taxable accounts (i.e. IRA's and 401k's). Taking time to research and having a strategy is really important. Blindly buying shares of XYZ stock because someone at the gym told you it's a good investment is not a plan, it's idiocy. Buying a stock because some talking head like Jim Cramer recommends it is also idiocy. The common theme in all these sources is that the conclusions and recommendations are based on academic research that has studied the stock market going back hundreds of years. Unfortunately, these Nobel Prize winning academics don't work down at the local Merril Lynch office advising would be investors. There's no quick road or short cut to wealth (unless you're willing to take wild gambles and end up either rich or broke). But there is a strategy that can make virtually anyone a millionaire, if they're willing and have the discipline to follow the strategy for about three decades or so. I need about 7 more years to hit the million dollar mark. Considerable reading and also I have a Master's in Finance. |
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