| 4 December |
Where can a beginner start investing and buying stocks online? |
And when I say “beginner” I mean just that. I have never invested in stocks before. But find that it’s something I’m starting to become interested in as I grow older. Thanks.
As an economist and professional investor, DON’T. Instead do several things. First, go to Edward Jones and give them your money. They are a very well respected brokerage firm. They will keep you out of trouble, which is a big help, and you should do reasonably well. Second, pick up a copy of “The Intelligent Investor,” by Benjamin Graham. It was last published in 1972, but is widely sold at any major book store. After that, it depends upon your accounting knowledge. A good MBA textbook on accounting will help alot if your skills are few. After that, buy “Security Analysis,” by Cottle. Third, and you can do this at the same time as you buy the first book. Go to www.marketocracy.com and register an account. They will give you a fake $1,000,000 to invest. If you do a good job they will pay you, if you make it into the top 100 of the 70,000 competing investors. It will let you see how you stack up compared to others, it will let you make mistakes without actually hurting you, so you can learn, and it is quite realistic. After all of the above, go to www.etrade.com and open an account. They are excellent and provide a very wide array of services.
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