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http://www.youtube.com/v/Te8gbJLQWVA?f=videos&app=youtube_gdatahttp://www.youtube.com/v/Te8gbJLQWVA?f=videos&app=youtube_gdataOriginally Posted by fortheloveofthegame8
I would suggest "A Random Walk Down Wall Street" ... After reading that book, I will never purchase stock in an individual company. Here's a brief description of the book:
"After all, a "random walk"--in market terms--suggests that a "blindfolded monkey" would have as much luck selecting a portfolio as a pro. But Burton Malkiel's classic investment book is anything but random. Since stock prices cannot be predicted in the short term, argues Malkiel, individual investors are better off buying and holding onto index funds than meddling with securities or actively managing mutual funds. Not only will a broad range of index funds outperform a professionally managed portfolio in the long run, but investors can avoid expense charges and trading costs, which decrease returns."
[font=verdana, arial, helvetica, sans-serif]That's why I suggested ETFs to the OP. If I were you, I would create an account on UpDown.com and practice with "play" money for a few months before investing any actual money. I'm currently doing this myself with a portfolio of only index funds.[/font]
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[font=verdana, arial, helvetica, sans-serif]EDIT: I forgot to mention .... I would suggest Scottrade if you would like to trade online. I've been very pleased with them and they only charge $7 per trade.[/font]