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Bill Y Bob Wakeboarder.Commie
Joined: 12 Jan 2003 Posts: 1014 City: S.L.C.
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Posted: May 17, 2006 7:50 pm Post subject: Starting out in finances |
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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
Joined: 13 Oct 2003 Posts: 1748 City: Edmonton
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Posted: May 17, 2006 8:46 pm Post subject: |
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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
Joined: 01 Dec 2003 Posts: 441
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Posted: May 17, 2006 10:19 pm Post subject: |
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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
Joined: 29 Jul 2004 Posts: 15136 City: Wilmington, Delaware
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Posted: May 18, 2006 5:45 am Post subject: |
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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......... _________________ www.integrity-wake.com |
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5280HighButter Soul Rider
Joined: 16 Mar 2005 Posts: 258 City: Littleton
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Posted: May 18, 2006 6:40 am Post subject: |
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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!! _________________ "I know violence isn't the answer, I got it wrong on purpose." |
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pyrocasto PityDaFool Who Posts This Much
Joined: 29 Aug 2003 Posts: 5291 City: hendersonville
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Posted: May 18, 2006 7:17 pm Post subject: |
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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. _________________
eeven73 wrote: |
At least 50% of the population is retarded so I discount what they think or feel automatically. |
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thrasher Newbie
Joined: 24 Jun 2003 Posts: 34 City: northern MN
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Posted: May 27, 2006 5:25 pm Post subject: |
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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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