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Investments Discussions and questions about stock market investments, tax free savings, and high interest savings accounts.

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  #16  
Old 12-14-2007, 12:04 PM
Mynion Mynion is offline
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Join Date: May 2007
Location: Central Ohio, USA
Posts: 278
Default Re: Newbie to investing

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Originally Posted by GNick39 View Post
I have around $6,000 this year to put in an RRSP. I wanted to invest the money in the stock market. What would be a good secure stock? Royal Bank?
The fact that you actually had to ask this question, plus the fact that you have no ideas of what a "secure stock" might be, and finally the fact that you consider yourself a "newbie" to investing, all speaks to NOT investing directly in the stock market. Investing directly in the stock market is meant for those who have enough wealth to build a diversified portfolio of stocks, bonds, and other investments.

The most cost-effective way to purchase a diversified portfolio of investments is to utilize mutual funds. A balanced mutual fund can give you a nice mix of investments, if you were to choose only one fund.

But there are many questions that need to be answered before you invest. Do you have an emergency fund? Is your family protected? Are you investing in your company retirement plan? What other opportunities do you have with this money? How long are you investing this money for? What is the ultimate purpose of this money? etc.
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  #17  
Old 12-23-2007, 03:48 AM
GNick39 GNick39 is offline
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Join Date: Dec 2007
Location: Canada
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Default Re: Newbie to investing

No, I wanted to invest in the market. For a little hands-on experience and make a little also. Is this a good time to invest or wait a few months?
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  #18  
Old 12-24-2007, 12:00 PM
vanman2099 vanman2099 is offline
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Join Date: Dec 2007
Location: Michigan
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Default Re: Newbie to investing

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Originally Posted by GNick39 View Post
No, I wanted to invest in the market. For a little hands-on experience and make a little also. Is this a good time to invest or wait a few months?
I found that the best time to invest is when everyone else is in emotional chaos over bad news. Since the housing market has taken a hit there have been what I call "deals" springing up all over the place and I don't have enough money to buy as many as I want unfortunately. On top of that, it is the end of the year, and a lot of people are mass selling their bad picks to get capital losses to deduct at tax time. Deals are abundant right now, but I recommend you figure out your own niche of the market and strategy using the virtual stock exchange at Virtual Stock Exchange - Home

To prove that good deals can be found when the market becomes emotionally unstable I setup a virtual portfolio last year after some tech stocks crash (technology is the field I'm in so I'm familiar with how the tech market reacts to oil prices moving, foreign affairs, etc). But here is a link to my virtual portfolio:

Virtual Stock Exchange - My Portfolio

I haven't touched anything since the initial purchases because I'm studying chaos and long-term effects. You'll notice that the market is "down'ish" right now but I am still showing a 257% return in just over a year. Please note I also went out on margin to borrow even more money for power to throw in some real virtual risk. My initial upfront "virtual" investment was $100,000 and the portfolio is now worth $357,000. Also, I should point out that it appears the returns are from only 2 of the 6 stocks on the list; all of them have alternated in growth to keep the portfolio consistently climbing up to where it's at now. I think all of them have shown a major return at one point over the last year, at which point most of us would have sold if this were a real portfolio so my actually return would be substantially higher right now if I were to have set this up with the intention on maximizing my return.

These stocks were all doomed or at a low point when I bought them, but I did do intensive research to ensure that each company could with stand the current problems they were facing and weren't facing imminent bankruptcy. There is another strategy I have been doing that works extremely well but I won't get into that one yet.

Finally I wrote 2 brief things to help beginners out:
Stock Market Basics | thomasvan.net - Basic Information

Stock Market: Trading - Stops, Limits, and Options | thomasvan.net
Overview on how trading works

Hope this helps.
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  #19  
Old 12-28-2007, 03:34 AM
Hermes Hermes is offline
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Join Date: Sep 2007
Location: FL + NY + UK
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Default Re: Newbie to investing

There is no such thing as a good or bad time to invest if you know what you are doing. If you have the knowledge then anytime is a good time, regardless of economic conditions.
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  #20  
Old 12-28-2007, 11:55 AM
layla17 layla17 is offline
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Join Date: Dec 2007
Location: Pa, USA
Posts: 26
Default Re: Newbie to investing

I agree Hermes. As long as you are in control of your finances and can afford to invest, then by all means jump in.
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  #21  
Old 03-06-2018, 06:38 AM
ethanscott ethanscott is offline
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Join Date: Mar 2018
Posts: 16
Default Re: Newbie to investing

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Originally Posted by palefrost View Post
I havent really invested yet and im just starting to build up a few hundred a year. What would be a good starter investment for just a few hundred a year investment?
I know I'm way too late here but just saying gold would have given you reasonable profits!
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  #22  
Old 03-06-2018, 06:39 AM
ethanscott ethanscott is offline
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Join Date: Mar 2018
Posts: 16
Default Re: Newbie to investing

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Originally Posted by Hermes View Post
There is no such thing as a good or bad time to invest if you know what you are doing. If you have the knowledge then anytime is a good time, regardless of economic conditions.
Agreed. Depending on how much money you have, make a smart decision and invest it in the right area!
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