looking for some advice on purchasing stock for the first time,, any suggestions??
2006-12-04 18:11:27 · 4 answers · asked by moham 1 in Business & Finance ➔ Investing
If the company you work for offers a stock purchase program this is without a doubt the absolute best stock to purchase for your first purchase. In many cases the company you work for (if publicly traded) will offer a 15% or more discount to you on their stock. As with any stock there is always a risk but with a discounted price it is a great deal and you are usually getting the lowest price that the stock has been at for a certain period of time. I did this when I worked for CVS Pharmacy and made a nice bundle of money. If this is not an option for you I say go with a big company that has stability until you feel comfortable dabbling with smaller riskier companies.
2006-12-04 18:25:24 · answer #1 · answered by Ryan L 1 · 0⤊ 0⤋
Best place for a novice investor is a broad based index mutual fund. Your risk is spread out over many stocks. If you buy an individual stock and the company goes bust, you lose everything.
Not possible with a broad based fund. Yes you can lose money over a short period. But over the long haul you should do great. Even if you get more into investing these are great funds to have.
You usually need about 2,500 to start. If you don't have that you can buy an exchange traded fund. You can open an online account with Scottrade or another online broker. You can find out more about ETF's online. The important things to remember are you won't get rich overnight. If the value of your fund drops don't panic and sell. Buy more if you can. Invest regularily. Be patient. It usually takes years to get substantial returns. Educate yourself and don't listen to people who aren't sucessful investors themselves.
2006-12-05 04:41:50 · answer #2 · answered by Big R 6 · 0⤊ 0⤋
It should be based on a product that you already know and love.
If you are starting to invest you should see what the best investors are buying and selling and why. Check out http://www.top10traders.com - this is a free site that lets you create a portfolio of stocks with $100,000 in "play" money. Each day the site ranks the best performing portfolios, so you can see how your picks perform compared to other investors. You can also read posts on investing from the best traders, as well as share your own investing ideas.
Here are this month's best traders:
http://www.top10traders.com/Top10Standings.aspx
Good luck.
2006-12-05 23:26:12 · answer #3 · answered by Anonymous · 0⤊ 0⤋
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2006-12-05 04:42:54 · answer #4 · answered by dinu_pawar 5 · 0⤊ 0⤋