Hey guys, I've been a sport handicapper for 4 years now. I'm currently 23 years old and I am very interested in learning about investing. If anybody can help, please guide me in the right direction into how I can learn and get better? I remember starting out with sports betting and I had no idea. 4 years later I now am a winning capper. Please guide me, I really want to learn!
BTW I know almost nothing about investing.
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Hey guys, I've been a sport handicapper for 4 years now. I'm currently 23 years old and I am very interested in learning about investing. If anybody can help, please guide me in the right direction into how I can learn and get better? I remember starting out with sports betting and I had no idea. 4 years later I now am a winning capper. Please guide me, I really want to learn!
I did it the old fashioned way and went to school.
It's good to recognize that investing is an important life strategy in your early 20s.
I'm sure some posters (maybe WSC) can give you good insight by doing it a much cheaper way. If I knew a way to teach myself outsode of reading various article, I'd recommend something to you. Just wanted to wish you the best of luck. But I can say this: When I was around your age, I got started slow by opening a Vanguard account and investing in mutual/bond funds (most are $3,000 minimum investments). As a learned a little more, I opened an Etrade account and invested in individual companies.
HERE'S SOME ADVICE: Don't get in to day trading penny stocks. Eventually, you will get burned.
Best of Luck.
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I did it the old fashioned way and went to school.
It's good to recognize that investing is an important life strategy in your early 20s.
I'm sure some posters (maybe WSC) can give you good insight by doing it a much cheaper way. If I knew a way to teach myself outsode of reading various article, I'd recommend something to you. Just wanted to wish you the best of luck. But I can say this: When I was around your age, I got started slow by opening a Vanguard account and investing in mutual/bond funds (most are $3,000 minimum investments). As a learned a little more, I opened an Etrade account and invested in individual companies.
HERE'S SOME ADVICE: Don't get in to day trading penny stocks. Eventually, you will get burned.
Best way is to think of some companies you like, some that you follow and are interested in..
Start learning about their business, what makes them good at what they do...start learning about their financials and their history, then start researching their competitors and industry..get good at learning how to evaluate a company.
See if you find it interesting...see if you are driven to research and learn and uncover opportunities. If you have the interest and drive then start there...dont put money in an account and start trading any time soon. Start finding out about companies and about the stock market..how the market works and what make the market tick.
Let me suggest that you steer clear of hacks like Jim Cramer, sites like Zerohedge or message boards for investing.
See if you can find research on generic sites like yahoo finance that have ways to find financial information, articles about companies and market data. Vanguard and Scottrade and Fidelity are good sources for looking around for mutual finds and stocks.
First thing is to think about a company you think that is doing a great job...then start learning about it..how it operates, the management team...its history and the ups and downs it might have. See if you can find something out that others might not see, and if you can FIND information and uncover things, that is a very very good skill for investing.
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Best way is to think of some companies you like, some that you follow and are interested in..
Start learning about their business, what makes them good at what they do...start learning about their financials and their history, then start researching their competitors and industry..get good at learning how to evaluate a company.
See if you find it interesting...see if you are driven to research and learn and uncover opportunities. If you have the interest and drive then start there...dont put money in an account and start trading any time soon. Start finding out about companies and about the stock market..how the market works and what make the market tick.
Let me suggest that you steer clear of hacks like Jim Cramer, sites like Zerohedge or message boards for investing.
See if you can find research on generic sites like yahoo finance that have ways to find financial information, articles about companies and market data. Vanguard and Scottrade and Fidelity are good sources for looking around for mutual finds and stocks.
First thing is to think about a company you think that is doing a great job...then start learning about it..how it operates, the management team...its history and the ups and downs it might have. See if you can find something out that others might not see, and if you can FIND information and uncover things, that is a very very good skill for investing.
put 2000$ in each and see which one will go higher. start from there. every two or three months put away 1000 or 1500 in another stock. and then another. and then another. or you can use an index fund.
growth stocks are nice!!! for instance when the ipod first came out apple was around 7$ now its at 108$ and change. tons of growth still in aapl because they could be going into banking/automotive/healthproducts/etc.
dont repeat mistakes. if you keep doing the same mistake thinking their will be a different outcome it is a sign you are 'insane'
you can go to the library too. good source of knowledge.
diversity is key, even if one of your companies you pick goes under you can easily have 200-500% overall return over 10-15 years if you pick 12-20 stocks in a portfolio.
tons of people I know are up 400+ percent since 2000-2001!
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you can learn almost anything on youtube.com
pick a growth stock. pick a down and out stock.
put 2000$ in each and see which one will go higher. start from there. every two or three months put away 1000 or 1500 in another stock. and then another. and then another. or you can use an index fund.
growth stocks are nice!!! for instance when the ipod first came out apple was around 7$ now its at 108$ and change. tons of growth still in aapl because they could be going into banking/automotive/healthproducts/etc.
dont repeat mistakes. if you keep doing the same mistake thinking their will be a different outcome it is a sign you are 'insane'
you can go to the library too. good source of knowledge.
diversity is key, even if one of your companies you pick goes under you can easily have 200-500% overall return over 10-15 years if you pick 12-20 stocks in a portfolio.
tons of people I know are up 400+ percent since 2000-2001!
baller here's what i'd suggest.. if u have the $$$ open up either a Roth IRA/ or a regular IRA and put the maximum ($5500 per year) per year..since you're in your 20's...by the time you reach 59 1/2 yrs old you will have a million $$ or more in your account ...and if you open a Roth IRA it's all tax free as well... i wish i'd have done what i've suggested you do cause the power of all those yrs of investing and the compounding effect should produce incredible gains in the long term..Never buy a company that doesn't make a profit and stay away from penny stocks because most of them have a great story but NEVER make $$$...which means if u invest in them you'd lose $$$... best of luck
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baller here's what i'd suggest.. if u have the $$$ open up either a Roth IRA/ or a regular IRA and put the maximum ($5500 per year) per year..since you're in your 20's...by the time you reach 59 1/2 yrs old you will have a million $$ or more in your account ...and if you open a Roth IRA it's all tax free as well... i wish i'd have done what i've suggested you do cause the power of all those yrs of investing and the compounding effect should produce incredible gains in the long term..Never buy a company that doesn't make a profit and stay away from penny stocks because most of them have a great story but NEVER make $$$...which means if u invest in them you'd lose $$$... best of luck
baller here's what i'd suggest.. if u have the $$$ open up either a Roth IRA/ or a regular IRA and put the maximum ($5500 per year) per year..since you're in your 20's...by the time you reach 59 1/2 yrs old you will have a million $$ or more in your account ...and if you open a Roth IRA it's all tax free as well... i wish i'd have done what i've suggested you do cause the power of all those yrs of investing and the compounding effect should produce incredible gains in the long term..Never buy a company that doesn't make a profit and stay away from penny stocks because most of them have a great story but NEVER make $$$...which means if u invest in them you'd lose $$$... best of luck
This... and invest in Index Funds..
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Quote Originally Posted by sfg8:
baller here's what i'd suggest.. if u have the $$$ open up either a Roth IRA/ or a regular IRA and put the maximum ($5500 per year) per year..since you're in your 20's...by the time you reach 59 1/2 yrs old you will have a million $$ or more in your account ...and if you open a Roth IRA it's all tax free as well... i wish i'd have done what i've suggested you do cause the power of all those yrs of investing and the compounding effect should produce incredible gains in the long term..Never buy a company that doesn't make a profit and stay away from penny stocks because most of them have a great story but NEVER make $$$...which means if u invest in them you'd lose $$$... best of luck
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