16 yr old wanting to start with stocks?

Question

I just want to know of some good stocks to invest in so that i can be making money quickly. I know that stocks dont just shoot out money but still i want to be able to make money from this. I dont want the return in 10 years, i want it somewhat sooner.

Answer 1

My advice would be to visit www.betterinvesting.org. They are a part of the NAIC which is an investor organization. They will also steer you to Mystockfund.com which is a very low cost broker (no fee for purchases for first year. There is a monthly fee of 5$ which is about the same as a bank account.)
Morningstar.com also has a free investor education site which will let you know how it is done and what to do.
These two should steer you in the right direction.
You will show some returns shortly after you begin but if you want to get rich quick, this is not the way to do it. That is called gambling or lottery and they don't work over the long term.
I assume you want to retire early so these are the way I would go. Hope this helps.

Answer 2

You are way ahead of the game already just by having the curiousity about saving and investing that most adults don't have not to mention teens. If you want to learn about stocks and investing read about them. Pick up a Fortune, Forbes, Wall Street Journal and so on. Spend an hour a day. For now if you have some dough park it in a cd or online bank account some of which are paying 5% interest. If I knew of some get rich quick stocks I probably wouldn't tell about them here and I would be buying them. Good Luck Kid

Answer 3

If you are investing in stocks you want long term gains,because you'll be taxed less on them.Day traders have a bad reputation as someone that only wants a fast buck.I've had company stock and the commissions for selling it ate up the profit,plus you have to pay taxes on it.People who try to time the market eventually lose their shirt.How big is yours?I don't think at 16 that you have enough capitol to afford to lose it all at once.Stick with mutual funds or a company that has slow but steady growth like Publix,Mcdonald's,or Coca-cola.

Answer 4

If your time horizon is a few weeks or months and you are willing to follow your stocks, I think the best bet is hot Chinese stocks. China Life (LFC) has pulled back a bit but it has been moving really well lately. The Chinese market is in a bubble and it will go bad, but no one knows if it will go bad next week or two years from now. Anyway, you've got to be willing to sell and not ride hot stocks to the ground.

For a longer time horizon I think the megatrend to get onto is the worldwide water shortage. I don't know what to recommend except an exchange-traded fund called Water Resources PowerShares (symbol PHO).

Answer 5

dont trust stock tips.
Also you have to be 18.
Sounds like you want to do trading, Many many stocks follow almost predictable patterns ( things can change)
For example I have traded in and out of Ford, because I am used to its pattern.

You need to start plaing with stock charts, learning the lingo, terms, know the effect of earning reports and the like. You need to know what the current price is telling you.
Go to finance.yahoo.com and look at differnet companies.Look at their charts.
Go to a bookstore and pick up a $12 book on the basics. There are some good ones.

Give yourself a good education, and rememebr the basics.
Avoid hype. Like Jim Cramer...you can learn some things, but he has made numerous bad calls.
Avoid panic (sometimes it helps you)

Answer 6

You dont want people here just telling you what stocks to buy. You need to educate yourself and learn more about the way the market works first. I was like you and just wanted to start. I lost. Then I did some reading and learned what actually works and what goes on in the stock market. I would recommend Jim Cramers "Real Money" and "Mad Money". They are both good reads and very educational and easy to follow.

But whatever you do, please dont just jump in and start buying stocks. Educate yourself or you will lose

Answer 7

Stocks are a good investment, if you have the time to watch them. I would like for good micro-cap companies, as these are the companies that are just getting their production lines generating or are already operating at a smaller level, and have room for growth. These tend to be riskier, but no big reward without any risk.

Have you ever considered real estate investing?

Check out TaxSaleWealth
http://www.taxsalewealth.com

Answer 8

Research, research, and research. Did I say research?

I sell stuff on eBay and play poker for most of my income. The way I got to where I am now is mostly through trial and error and tons of homework on both subjects. What works, what doesn't, things like that. And be patient with investing. What you're planning to do in less than ten years is basically an overnight thing. It just won't happen. Keep working hard for your money, and, in the end, your money will work hard for you.

Answer 9

Don't take this the wrong way, but how smart are you to ask people on Yahoo answer for stock advice. The market has been taking huge hit as of late so your best option is to consult a broker.

Answer 10

My personal suggestion is that you stay out of debt and save your cash. The market will be crumbling and by my estimation will be below 10,000 by end of this year or early next year. Remember wall street makes money selling not buying and they are about to wipe out the masses get ready for a great depression. Remember this country creates liquidity by lending money and liquidity gets wiped out when loans are defaulted. We are now in the biggest bubble in real estate and the money is all gone don't get fooled by the rally on wall street we are heading for the biggest wipe out ever and it will be talked about for the next hundred years. Remember a depression is liquidation of bad debt and this country has alot of it. So save your cash wait for gold to retreat into the 400 oz area and buy gold the dollar is on its way to getting wiped out you should be out of debt in cash preferably euro, or British pounds, be patient and you will be able to buy US assets cheap in the coming great depression.