I have two mutual funds that are vastly underperforming and would like to take the money and start to invest in stocks. I was just wondering what is the site most commonly used here? TD Ameritrade, Etrade, Scotttrade, Fidelty ???? also if you have any tips on some good stocks for a young investor it would be much appreciated
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I have two mutual funds that are vastly underperforming and would like to take the money and start to invest in stocks. I was just wondering what is the site most commonly used here? TD Ameritrade, Etrade, Scotttrade, Fidelty ???? also if you have any tips on some good stocks for a young investor it would be much appreciated
In terms of a brokerage, you can't go wrong with Scottrade. Fees are low, easy platform, never had a problem with customer service.
If you are going to be a frequent trader, I'd consider Zecco, which has $0 fees. I have no experience there, but one of my buddies used it and said he had no problems with it.
In terms of stock tips, check out some of the other threads in this forum, particularly the June Stock threads. There are a lot of intelligent people here, and I've actually learned quite a bit since I started checking in.
My one tip to you would be to make sure you diversify. I used to be more or less 100% in stocks. Now I have some foreign exchange index funds, gold (GLD), silver (SLV), commodity index funds, funds that short the financial and commercial real estate industries (SKF and SRS) etc that make up a decent portion of my portfolio. When you start investing in some of these, you need to be a little bit more of an active investor, but in a down market like this, it can definitely stop some of the bleeding if you are willing to put in the time to check them a few times a day.
However, if you want to be heavily invested in stocks, and you are more of a long term, passive investor, I don't think you can go wrong with the Spyder Fund (SPY) which is an exchange traded fund that mimics the S&P 500. For a young investor, it is one of the best ways to get maximum diversity without having to pay a large amount of brokerage fees.
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In terms of a brokerage, you can't go wrong with Scottrade. Fees are low, easy platform, never had a problem with customer service.
If you are going to be a frequent trader, I'd consider Zecco, which has $0 fees. I have no experience there, but one of my buddies used it and said he had no problems with it.
In terms of stock tips, check out some of the other threads in this forum, particularly the June Stock threads. There are a lot of intelligent people here, and I've actually learned quite a bit since I started checking in.
My one tip to you would be to make sure you diversify. I used to be more or less 100% in stocks. Now I have some foreign exchange index funds, gold (GLD), silver (SLV), commodity index funds, funds that short the financial and commercial real estate industries (SKF and SRS) etc that make up a decent portion of my portfolio. When you start investing in some of these, you need to be a little bit more of an active investor, but in a down market like this, it can definitely stop some of the bleeding if you are willing to put in the time to check them a few times a day.
However, if you want to be heavily invested in stocks, and you are more of a long term, passive investor, I don't think you can go wrong with the Spyder Fund (SPY) which is an exchange traded fund that mimics the S&P 500. For a young investor, it is one of the best ways to get maximum diversity without having to pay a large amount of brokerage fees.
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