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teach/help me to make that stock money

J

jebac

TRIBE Member
ok everybody here is the deal. i am 21 years old and i have no savings! yes i know, a big wtf, i make an ok amount of change but i would like more (wouldnt we all). that crack money has kept me happy and warm but its time to move on. inspired by the amount of money people have been able to save over a number of years ive begun thinking about investing. since i know NOTHING about investing, i would like to turn to tribe for help

ok maybe i dont know exactly nothing, so heres what i know/want to do.

i have a very small amount of money id like to invest, $500. from basic knowledge, i do not see myself doubling my moeny (which i would like to do in the shortest amount of time possible) from a single stock, and i am also stuck with the fact that its too little money to spread out to many stocks and if i did, it would take very long to see a positive return.

so wtf do i do? are there any industries that i should generally be checking out, anything that i should be reading on a daily basis, things i should be considering? i have about 2-3 hours a day to devote to this and if i see good things happening, i plan on making it a part of my everyday life...

any tips/comments would be appriciated.

also, tips like BUY HIGH SELL LOW, or the other way around or pour water on it SUCK and u can all suck youreselves in hell

-jebac
 
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L

litespeed

Well-Known TRIBEr
put your money in mutual fund or something that is less of a risk.. and continue putting more money in on a regular basis. that's the only way you're really going to turn it into something substantial... and it's not going to happen over night.. it takes time.

then when you have some real money to play with.. you can go some real trades. no one makes money off moving small piddly sums when a stock increases a couple bucks a share... you need to have some bigger coin to make money in that game.

so ya... start off with something safe and keep adding to it for now.
that's what I'm doing right now.. and with the money i'm investing.. if i keep it up.. and there is an average return of 3% per year.. i should have a few million at least to retire on.. but I have a long term goal...

and I'm not a financial advisor... this is jsut what I'm doing for myself.. for now at least.
 
L

LivingRoomPornstar

TRIBE Member
ev said:
if i keep it up.. and there is an average return of 3% per year.. i should have a few million at least to retire on.. but I have a long term goal...
Click to expand...

ev, if you're making 3%/year you're just pacing inflation..not growing your money at all.

If you have a long-term goal, you may be able to make much more than that.

You should go in and see someone dude.

Dan
 
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L

litespeed

Well-Known TRIBEr
LivingRoomPornstar said:
ev, if you're making 3%/year you're just pacing inflation..not growing your money at all.

If you have a long-term goal, you may be able to make much more than that.

You should go in and see someone dude.

Dan
Click to expand...


well i don't remember the exact way the person explained it.... but I will also not be putting in the same amount of money every month all my life to.. because naturally with inflation.. cost of living increases as will peoples pay ;)


seen

it was all worked out... i got all these snazy charts and graphs and shit... but like i said.. i don't know that stuff do well.

also the find I have my money in has had an average return of 12% over the last 10 yuears.. except for 2000 when it actually lost a few points
 
J

jebac

TRIBE Member
yeah but i dont want to have millions by the time i retire, i want one million atleast by the time im 30, is this possible?

-jebac
 
Bass-Invader

Bass-Invader

TRIBE Member
jebac said:
yeah but i dont want to have millions by the time i retire, i want one million atleast by the time im 30, is this possible?

-jebac
Click to expand...

buy a crab fishing boat and hit the bering sea.
 
L

LivingRoomPornstar

TRIBE Member
ev said:
also the find I have my money in has had an average return of 12% over the last 10 yuears.. except for 2000 when it actually lost a few points
Click to expand...

see 12% sounds better. I thought you were saying that you only make 3%/year.

I was momentarily afraid you were investing long-term in an ING savings account. :D

Dan
 
N

nawberry

TRIBE Member
I would suggest buying a stock in a company you are familiar with, so long as you also like the way that company has been going of late.

So for example, if you find you are buying more Sleeman's, then consider buying its stock.

If you liked the movie Crash, buy Lion's Gate etc.

That way instead of trying to analyze balance sheets etc. you buy in to something based on your perceptions of the company. It isn't the way to go for large investments, but for getting your feet wet, why not?
 
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W

wineandboogie

TRIBE Member
with $500 bucks you could buy some penny stocks and you could get more bang for your buck(more shares)

it is riskier, but the upside is alot higher as well

it's like going to the track, you can bet the favorite to place and make 10 cents, or you can bet the long shot and quadruple your money

tim hortons will be out in a few weeks but at 20-22 a share plus commissions you'll get about 20 shares

buy something for 20 cents and you can get 2000 shares

i'm in energy and metals myself

and as always do your own due dilligence before pulling the trigger

peace,g
 
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W

wineandboogie

TRIBE Member
alot of people say gold can get to 800,1000 or even 2000 in this current cycle

uranium,zinc, and silver have more upside IMO

and apparently sugar as well, because the south americans(mostly brazilians) are using the sugar cane for ethanol in their cars

g.
 
T

The Tesseract

TRIBE Member
Gold is soooo not the place to be right now.

Silver is.


wineandboogie said:
uranium,zinc,
Click to expand...

I haven't heard that before. Uranium doesn't exactly have a huge demand for itself outside of power generation. Zinc, i can see.
 
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T_Dot_House

T_Dot_House

TRIBE Member
Tim Horton's is about to go public. I think the initial hype of this stock should provide some good returns if you don't get too greedy.
Who know, this could be Canada's Google?!? (I doubt it though)
For more information about their IPO, check out http://finance.yahoo.com/q?s=wen
 
W

wineandboogie

TRIBE Member
short term gold may have a few wild swings but it's up today 3 dollars and by the end of the year it should be around 600. has to re-test a bottom for support.
if the silver etf comes about there could be a bit of a squeeze

there was one day last week that if you had silver part of your name you were up.

uranium has gone from $7 a pound 3 years ago, to just about $40 now. it's only for power generation, but they're using more than is being produced, and more power plants are under development/being planned for the next 15-20 years

peace,g.
 
J

judge wopner

TRIBE Member
i was in your position a few years back, and i was in debt , but decided to devote some of my extra funds to stocks instead of just paying off some more debt.

heres what i learned:

for every amature who knows little about the markets there is a so called professional. their job is not to make you money so much as it is to sell you a financial device be it a mutual fund or trading system that makes them money.

any one who claims to be knowledgeable about markets should be rich enough not to have to resort to selling people products or mutual funds that may or may not earn %8 , but will definately charge you %2-2.5 management fee's either way.

day trading is equally shifty too.

you can win big or loose big. be weary of anyone who gaurantee's results or tells you that investing is either easy or too difficult.

it takes a lot of reading and study, if you have the time and effort you can gradually pick up some skills.

im at th point where i still have so much to learn but know enough to see right through alot of the bullshit int he financial industry.

you can put your $500 in nice boring mutual fund, and say get %10 back, this time next year you'll have about $550 or so. big fucking deal. then again your fund may not do well, and you could end the year with $490. 1 year earning power lost, and you still had to pay a management fee for your troubles.

there are good mutual funds out there no doubt, but its one of the few industries i know of where you can win or loose your money and the guy in teh drivers seat still gets his %2 or so management fee. and even if he looses most of your money, still gets to call himself a professional, where as a doctor would loose his practice if too many patients die on ther operating table.

if you have a small amount that you cannot afford to loose think twice about risky investing, but if you want to take a risk and roll the dice, try it on your own, it more educational, fun and mabey after some time investing you may wish to stop and put it in something safe.

loosing that $500 could be the price for tuitiion in how to invest properly. ive lost about $50,000 over the past 2 years, but won back much more, so iim well ahead of myself and learned to put those loses in perspective. its where you stand at the end of the day.


good sites i follow:

www.timingthemarket.ca click under "today's report" for analysis of markets

www.jsmineset.com the best site for gold investors out there.

www.robtv.com canada's business television, watching ths chanell helped me understand alot as well.

www.yahoo.com/finance look up a stock you like, under the american listing youll find message boards attached to the stocks, you can sift trhough the bullshit to find some interesting points about stocks/sectors you like.

www.stockhouse.ca good site for basic info, especially small cap/jr. stocks

read anything by Donald Coxe of Harris investment management, google him and find his monthly commentary called "basic points". its pure gold.

get some books on economics 101, and bonds if you didnt take it in school, it helps,

find sectors you are actually interested in or know stuff about and read everythign you can.

i like gold and silver so i gravitated towardds this sector. though its volatile so becarefull.

by a book on technical analysis, a good one is by John Murphy, a guru in reading charts and decipering price action. this helps if you want to do fast trades.

wathc stocks you like daily, check their action see how prices move and coreelate it to any news events or their underlying commodity such as gas/oil stocks.

that was my routine the past 2 years and im just getting started.

good luck.
 
W

wayne bradbury

TRIBE Member
I bought a bunch of shares years ago. I took my fathers advice that I should invest money. So with his advice I bought into natural resource stocks back in 97, 98 when they were at a low when nobody wanted them. One company I paid $0.55/ share currently worth around $5/share and predictions are they will double from where they are now because they are continually improving production and lowering costs. I've already made more than 4 times my original investment and still own 1000 shares. I was selling little by little on its way up.

I haven't invested in years though. Think when I go back to Canada for a visit I will take my money out and use it as a down payment for a home in Oz.
 
L

labRat

TRIBE Member
nawberry said:
I would suggest buying a stock in a company you are familiar with, so long as you also like the way that company has been going of late.

So for example, if you find you are buying more Sleeman's, then consider buying its stock.

If you liked the movie Crash, buy Lion's Gate etc.

That way instead of trying to analyze balance sheets etc. you buy in to something based on your perceptions of the company. It isn't the way to go for large investments, but for getting your feet wet, why not?
Click to expand...
um. no.

with only $500 it'd be impossible to get professional advice, and trading fees alone will kill any gains below ~10% that you may get. best bet would be to go into your bank and ask them what they offer - bonds, GICs, mutual funds. try to grow that $500 through additional fund injection. my 2 cents for what it's worth.
 
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