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Starting out in finances

 
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Bill Y Bob
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Joined: 12 Jan 2003
Posts: 1014
City: S.L.C.

PostPosted: May 17, 2006 7:50 pm    Post subject: Starting out in finances Reply with quote

So here's the deal, I'm 18 years old and I am looking for ideas of some ways to start building stock. I'm not trying to steal anyone's secret stock ideas that they think are going to make them big bucks. I just am thinking about investing $400-500 in something to figure out the system and learn.

Any ideas would be greatly appreciated. I wish our public school system would teach us some of these financial things.

Thanks in advance.
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204Waker
Wakeboarder.Commie
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Joined: 13 Oct 2003
Posts: 1748
City: Edmonton

PostPosted: May 17, 2006 8:46 pm    Post subject: Reply with quote

www.investopedia.com

It gives you from beginner to advanced. Learn the details before you invest
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atx_wakegirl_amy
Soul Rider
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Joined: 01 Dec 2003
Posts: 441

PostPosted: May 17, 2006 10:19 pm    Post subject: Reply with quote

Amerada Hess-
symbol- HES
industry- oil and gas refining.... big on natural gas too
Year high - 156
Year low- 88.54
I was trying to get my mom to buy it about 6 months ago when it was at like 89 now its at 143.....
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8824
Ladies Man
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Joined: 29 Jul 2004
Posts: 15136
City: Wilmington, Delaware

PostPosted: May 18, 2006 5:45 am    Post subject: Reply with quote

Bill Y Bob,

find a sector you like and research it. you will have more fun and interest in industries you like. For a young person like yourself, it should be enjoyable to do and not just a task.

energy,
tech,
bio med
financial services
you get the picture.........

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5280HighButter
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Joined: 16 Mar 2005
Posts: 258
City: Littleton

PostPosted: May 18, 2006 6:40 am    Post subject: Reply with quote

What are your goals, just learning how to buy a stock and sell it, or do you want to day trade and become good a picking stocks? Either way www.fool.com is a good website to start at. Let us know what you are looking to do and we will give you more advice on how to get there, good luck!!
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"I know violence isn't the answer, I got it wrong on purpose."
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pyrocasto
PityDaFool Who Posts This Much
PityDaFool Who Posts This Much


Joined: 29 Aug 2003
Posts: 5291
City: hendersonville

PostPosted: May 18, 2006 7:17 pm    Post subject: Reply with quote

5280HighButter, no reason to start learning day trading yet, he's about $24.5k short of the minimum.

Bill Y Bob, I'd sugguest looking around this forum: http://www.hyipdiscussion.com/stock-trading.html

If you cant find some good research sites and analizing sites then post a thread like this over there. Should get some good help. Wink

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At least 50% of the population is retarded so I discount what they think or feel automatically.
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thrasher
Newbie
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Joined: 24 Jun 2003
Posts: 34
City: northern MN

PostPosted: May 27, 2006 5:25 pm    Post subject: Reply with quote

Bill Y Bob

I'm about the same age (19) and can relate. The best thing to do would be to open a Roth IRA since it keeps away the taxman. With only $400-$500, I would also suggest sticking to ETF's since you wouldn't be able to build a well-diversified portfolio of single stocks. Even a five stock portfolio at a discount brokerage would cost you about $35 to $50 in commissions to start. An S&P 500 ETF (such as IVV) would give you instant diversification with only one trade. Once you start putting away more money and doing some research, then you could throw in some other ETF's or individual stocks.

As mentioned before, check out fool.com and investopedia.com. These sites are where I've learned a majority of what I know about stocks and the market. Anyways, good luck and have some fun with it.
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