How To Do Just About Everything
By eHow Personal Finance Editor
Rate: (59 Ratings)
Today's hot stock market is both inviting and intimidating to new investors. Here's how to start an investment portfolio of your own.
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Comments
RonChapmanJr said
on 7/14/2008 We also recommend saving up enough money to invest. Without that, the best research and strategies in the world will be useless.
http://positivereturns.net
RonChapmanJr said
on 7/14/2008 One other main thing that we recommend is saving up enough money to invest! Without that, it'll be hard to get started.
http://positivereturns.net
keithatsp said
on 3/16/2007 Stock simulators are nice in theory, but until you have real money on table your emotions won't come into play as much. Their are so many website that have search criteria for stocks that software is rarely required unless they offer something unique that you can't find. I knew someone who was a high up executive in a company that sold software that had tools for investors. He said that he never trades. Think about that. They make money on the product, but not actually using it. I wonder why! Most people trade with their gut and lose. That is why a trading system that you stick with is always required. Just look at the trading contests like the one going on at CNBC. People buy crazy low priced stocks with low volume hoping something amazing happens like a buyout or a breakthrough in their field. Trading like that is very risky. I don't think people want to gamble with their hard earned money and hope to pick a winner. I have a free beat the S&P 500 index trial that some of you might like to try. You can go to http://www.stockphases.com/report-trial.htm to start the trial.
Keith Burbach, Keith@stockphases.com
question said
on 1/2/2007 I have recently had a chance of using a Personal Finance Software package by Australian business Parcus Group - Personal Finance Associate.
The product is very good. For the AU$29 it costs, you get budgeting, financial planning templates as well as advanced features that typically cost loads more as separate software packages such as investment real estate calculations (mainly based on rental cash-flow analysis) as well as some value based shares valuations (based on Warren Buffet's stock valuation methodology)
Their website is www.parcusgroup.com
For anyone interested in their own wealth creation (via shares or else) this product is definitely worth looking at.
Anonymous said
on 12/19/2005 There is no better way to start thinking about investing in the market than by owning actual shares. Years ago, I started out by buying small numbers of shares with a Merril Lynch Sharebuilder plan.
Start with a few larger and well-known stocks of companies with established businesses and that pay dividends. I currently buy many growth stocks that do not pay dividends, but this isn't where I would start if I were new at this!
Some companies to consider for purchase include Walgreen's (WAG), Sysco (SYY), Colgate Palmolive (CL) and Coca Cola (KO). There are many other similar stocks that an individual could purchase that are similar.
Each month buy the same dollar amount of one of these or similar companies. Rotate among three or four positions until you have started building a nice holding. Then consider adding a new investment and start rotating between three of the four.
Meanwhile, read everything you can about investing. Consider subscribing to a business newspaper like the Wall Street Journal or the Investor's Business Daily. Read as much of Business Week, Forbes, Kiplinger's, Smart Money, Money, and Fortune Magazine among others. Get a few good books and read them as well. There are many great authors including Andrew Tobias and Engell who have written texts on investing that are a worthwhile read.
As you build up your positions, you might wish to consider moving into a regular discount brokerage like Fidelity or Schwab. At that point, you may wish to start building your savings in a money market account prior to making a purchase of shares.
Concentrate on stocks above $10 a share. It is more important to have fewer shares of a quality company than a lot of shares of a penny stock.
Be prepared to sell your positions if the underlying company encounters fundamental problems. Initially, do not worry about selling any shares unless there is a problem with the particular business.
Be patient. Greed is the biggest enemy to success. It is better to have a consistent batting average and hit singles than have a .100 batting average and hit a home run each time you do make a hit.
Avoid buying stocks on "tips". Do your own investigation of investments. Become familiar with Yahoo Finance, Marketwatch, and other business websites.