Stock market , anyone?

[sqhertz 5,000+ posts]

my friend came by the other day and gave me a quick run down of how the market works. he was showing me a few books he read and highly reccomends them. one was 'day trade online' by some author and a few others i cant recall.

question-

to anyone who is in the market, would you reccomend any books to someone who is trying to get into the market with little-to-no knowledge about it? titles?

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[JT1979 10+ year member]

my friend came by the other day and gave me a quick run down of how the market works. he was showing me a few books he read and highly reccomends them. one was 'day trade online' by some author and a few others i cant recall.question-

to anyone who is in the market, would you reccomend any books to someone who is trying to get into the market with little-to-no knowledge about it? titles?

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I would NOT reccomend a book. Get yourself a Newspaper and follow up on a few stocks. Pick one or two that you could afford to invest in and watch them and see how much you would have gained/losed if it were actual money. This is the best way I have found. Everything is just so unpredictable these days.

Always invest in Computers, Alcohol, tabacco, and cosmetic products. No matter thier prices, people will always buy them, so the market will always be on the up side.

 

[sqhertz 5,000+ posts]

I would NOT reccomend a book. Get yourself a Newspaper and follow up on a few stocks. Pick one or two that you could afford to invest in and watch them and see how much you would have gained/losed if it were actual money. This is the best way I have found. Everything is just so unpredictable these days.
Always invest in Computers, Alcohol, tabacco, and cosmetic products. No matter thier prices, people will always buy them, so the market will always be on the up side.

i remember we had a project in elementary school where we had to do that. invest 'money' and see what we profit after so much time. fun shit.

but how do i put my money into it? where? what do i do? im sure theres a book/s that discusses this.

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[Rich B 5,000+ posts]

Now might be a bad time to think about getting into the stock market unless you're knowledgable about shorting, puts, or options considering it may be on the brink of a correction.

 

[skeptikal Premium Member]

Best way to make money is to find a company that is offering stock

 

[IamDeMan 5,000+ posts]

Can't talk right now. We are to busy getting the stock market to catch up with us.

/Iceteebone impersonation of BBT

 

[sqhertz 5,000+ posts]

Now might be a bad time to think about getting into the stock market unless you're knowledgable about shorting, puts, or options considering it may be on the brink of a correction.

elaborate , please? when would be a good time? everyone starts somewhere. i want to be one of those ****ers i see first thing in the morning on tv saying how they got $1 million in 2 years or whatever. thatd be great.

im seeing alot of those online trading for dummies, stock investing for dummies , etc. books with decent reviews from people on amazon. worth my $15-20?

 

[Rich B 5,000+ posts]

elaborate , please?

Well, the stock market has already run up 70% (+/-) since its low in the last recession that hit before 9/11/01, and its been hitting one high after another for the last 2 years, at least up to the last month and a half when things started unraveling, so in theory it may not be sustainable at this level much longer.

Now on top of that, theres an international credit crisis thats the result of rising bankruptcies from the housing bubble bursting, where many financial institutions throughout the world are being artificially propped up by monetary injections directly from their respective central banks to prevent a worldwide recession (or worse, maybe a depression) .

Market directions are driven by psychology and sentiment, and neither of those are good at this time for the average investor, but you wont hear that from the financial talking heads on TV who are really nothing more than salesmen trying to get other people to hold the losing stocks if things go sour.

 

[sqhertz 5,000+ posts]

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[Flipx99 5,000+ posts]

my friend came by the other day and gave me a quick run down of how the market works. he was showing me a few books he read and highly reccomends them. one was 'day trade online' by some author and a few others i cant recall.question-

to anyone who is in the market, would you reccomend any books to someone who is trying to get into the market with little-to-no knowledge about it? titles?

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One up on Wall Street by Peter Lynch is my favorite. He is the only one not selling anything.

I would NOT reccomend a book. Get yourself a Newspaper and follow up on a few stocks. Pick one or two that you could afford to invest in and watch them and see how much you would have gained/losed if it were actual money. This is the best way I have found. Everything is just so unpredictable these days.
Always invest in Computers, Alcohol, tabacco, and cosmetic products. No matter thier prices, people will always buy them, so the market will always be on the up side.

2/4 are correct, but I'll give you partial credit on one. It is perhaps as universal, but not historically. Can you pick which 1 is not? I'll give you a hint....Sub guns/defense in for the incorrect one and you have what many call "a recession proof" portfolio.

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Rich B]Now might be a bad time to think about getting into the stock market unless you're knowledgable about shorting, puts, or options considering it may be on the brink of a correction.

Why would you reccomend such high risk investment vehicles to someone who is askig what book to read. Although I somewhat agree, you are putting the cart before the horse. I doubt he has the liquidity to make money in options. Unless you got $5k to really play with, it's hard to make real good money without getting killed by transaction fees and taxes.

Best way to make money is to find a company that is offering stock
I disagree. Overpaying for risk IMO.

elaborate , please? when would be a good time? everyone starts somewhere. i want to be one of those ****ers i see first thing in the morning on tv saying how they got $1 million in 2 years or whatever. thatd be great.
im seeing alot of those online trading for dummies, stock investing for dummies , etc. books with decent reviews from people on amazon. worth my $15-20?

For every one person that makes $1m in one -to -two years, there are 1000s that lose pennyless. I know quite a bit about investing and I wouldn't 'x2' any of them. You simply don't have the knowledge...when you can explain the 'greeks' and how they are important (wihout looking it up) then maybe you are ready for options. Otherwise, you will overpay for risk trying to hit a homerun. Trust me, I learned the hard way...and I went to school for this stuff.

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[GearGuy2001 10+ year member]

Through another forum I go on I found a pretty neat website, http://www.virtualstockexchange.com

Basically you can invest like the real stock market with fake cash

I wish I would of really bought mastercard when I bought it on VSE cause I bought it at 126 and it shot up to 165 //content.invisioncic.com/y282845/emoticons/frown.gif.a3531fa0534503350665a1e957861287.gif I could of been a thousandnair lol)

 

[pitbull12887 10+ year member]

dad has alot of sirius stock...since they are finally merging with XM its going up decently. Like a 4.xx% gain so far i believe.

 

[Rich B 5,000+ posts]

Why would you reccomend such high risk investment vehicles to someone who is askig what book to read. Although I somewhat agree, you are putting the cart before the horse. I doubt he has the liquidity to make money in options. Unless you got $5k to really play with, it's hard to make real good money without getting killed by transaction fees and taxes.

I wasnt reccomending he do any of those things, I was trying to disuade him from thinking of entering the market at a risky time where his chance of getting burned might be high.

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[sqhertz 5,000+ posts]

shitty.

well i guess ill pick up a book about it and see how i feel about getting into trading. sounds like its really hit or miss. i have to find something to invest in sooner or later...

 

[Rmsanger 10+ year member]

Beyond Greed and Fear - Herf Shefrin (gives a great look at the emotional decisions that are made in Investing / Gambling)

Trading & Exchanges ~ Market Microstructure for Practitioners - Larry Harris (will make you understand how the market really works, the players that are involved, and how they are compensated)

The Millionaire Next Door - Stanley & Danko (defines wealth, how real wealth is built, and how to live within your means)

These three combined with One Up on Wall Street and A Random Walk Down Wall Street should give you a good basic platform of knowledge.

We can get much more advanced once you have completed these and a few basic finance/econ text books.