I’d like to invest but need solid advice.?
I have a very small amount of money that I’d like to invest each month into the stock market. Right now with things the way they are the old rule ‘by low sell high’ is making it look like a buyer’s dream right now. However, I am SOOO new to this and while I’ve done some research I’d like advice from someone with actual experience. Where are the good investments (Medical, Financial, Gaming (that’s a joke 
, etc). Right now I’m looking at Bank of America but don’t really know if this is a good bet or not. Any help would be appreciated.
My name is Katy and I am Hirby's Financial Guru with 20 years of experience and expertise in financial markets, insurance and tax strategies. I'm inspired by those who pursue their financial goals and I am here to help. 
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February 7th, 2010 at 5:02 am
I used to be where you are about 9 months ago. I still consider myself a beginner.
Before you go buy shares with real money. I’d suggest you do something different (there’s always opportunities to make money, even if the money goes up or down).
First get informed. Read books, watch cnbc(jim cramer, and fast money are good shows for just learning terms, and theory), follow the market. Learn, and absorb as much as possible. The more informed you are, the better trader you will be.
Next find a good virtual trader (this allows you to trade stocks like you were with real money, if you fail.. no biggie it’s fake money). This allows you to really understand how the market moves, and allows you to test out your theories in trading. If i had to do it all over again, i’d probably trade with optionsxpress. It has a nice virtual trader, and great features, also no inactivity fee’s, etc. I currently trade with scott trade, but they don’t offer all the trading types I want to, so i’m going to move my account to optionsxpress.
Some of the books that helped me were these:
http://www.amazon.com/Mastering-Trade-McGraw-Hill-Traders-Edge/dp/0071459588/ref=pd_bbs_sr_1?ie=UTF8&s=books&qid=1237914254&sr=8-1
http://www.amazon.com/Technical-Analysis-Financial-Markets-Comprehensive/dp/0735200661/ref=sr_1_1?ie=UTF8&s=books&qid=1237914273&sr=1-1
http://www.amazon.com/Trading-Zone-Confidence-Discipline-Attitude/dp/0735201447/ref=pd_sim_b_3
Jim Cramer books are excellent too.
I would avoid finacials at all cost. They is just too much volatility. I’d suggest buying a consumer products company, something that traded laterally (or in a channel for TA people). Something like coke, pepsi, johnson and johnson, it’s a safer bet for a beginner like yourself.
Hope this helps alot
I also learned alot from this
http://www.thefinancialpuzzle.com/foundations.html
I took the class for free, just wait till the sign up are again!
February 7th, 2010 at 5:02 am
My advice is to get a good financial adviser. After years of dealing with our bank (and doing well) we wanted a more personal planner. Our representative was recommended by family and friends, has not been in the business long but has partnered with someone who has and he works for a reputable company.
A good adviser will meet with you at no charge. Ours has been paid no money from us and only for his company. We have had hours of his time and expertise and completely honest advice.
February 7th, 2010 at 5:02 am
Hint: Mutual funds
February 7th, 2010 at 5:02 am
The only person that really cares about your investments is you. Start by doing your homework, Yahoo,MSN and Investopedia.com are good starting points.
Your looking for growing sales, good cash flow and low debt.
And don’t get greedy, if your up take some off the table. Fast Money on CNBC is a lot of fun to watch and very informative as you begin to learn the jargon.
Goodluck and Godspeed.
February 7th, 2010 at 5:02 am
Sounds like you are pretty smart and asking all of the right questions. I don’t really believe there are many guru’s out there and probably not on Yahoo Answers. I think many stocks look very attractive right now but I try to stick with low cost mutual funds they are of course down very big also. I like vanguard and fidelity but thats just my preference.