Frackal is going to start investing: So...where do I start?

[Frackal]

What are some good things to read before I start putting my money into things? Probably mutual funds at first, then more later...the stock market is exactly my kind of thing. I am extremely frugal with my money, and don't like working (at least not mediocre blue collar/college kid shit).

Advice in general is welcomed too. M.O.D. and others....

 

[Austin316]

The "Help Austin316 get more gear foundation" sounds good to me!! Seriously though, Id like to hear what people have to say also, Im clueless on this stuff

 

[KAYNE]

START CHECKING OUT THE WALL STREET JOURNAL YOU FUCKING IDIOT!!! JK FOOL!!!

IF YOU WANT I CAN GIVE YOU SOME RATIO'S AND WHAT THEY ARE SUPPOSED TO BE AND WHAT THEY MEAN.......I.E......HOW FAST A FIRM TURNS OVER INVENTORY INTO CASH EACH YEAR. P/E RATIO'S, SHIT LIKE THAT. THATS SOME GOOD INFO IF YOU ARE GOING TO START PLAYING THE STOCK MKT.

YOUR HERO
KAYNE

PS......X-FILES SUK!!

 

[THE STEEL BEAST]

DELTA!

 

[Warik]

Mutual funds and Variable Life Insurance. Worry about the long term i.e. plan for retirement. Short term = lots of risk & you get fucked with taxes.

Also I'd definately recommend that you get yourself a financial consultant.

-Warik

 

[KAYNE]

WARIK......IT WOULDNT BE TOO GOOD TO GET LONG TERM RIGHT NOW SINCE INTEREST RATES ARE SO LOW. IF HE GETS A LONG TERM, THEN HE IS LOCKED IN LOW INTEREST. BUY S.T. RIGHT NOW SO YOU CAN GET RID OF IT WHEN INTEREST GOES UP, WHICH THEY WILL.

KAYNE

 

[Frackal]

Well I'm looking more for good books to read so I can get an overall view of the whole process....I know steel suggested a couple which I may purchase.

 

[Frackal]

PS- Supergirl wants me.

 

[HamsterHider]

FRACKAL HOW MUCH DO YOU HAVE TO INVEST? THIS MAY HELP[ WITH THE QUESTION ANSWERS. ALSO WHAT HAVE YOU GANKED FROM GNC SO FAR? ONCE I WORKED THERE AND A GUY SKED FOR DBOL.

 

[Warik]

WARIK......IT WOULDNT BE TOO GOOD TO GET LONG TERM RIGHT NOW SINCE INTEREST RATES ARE SO LOW. IF HE GETS A LONG TERM, THEN HE IS LOCKED IN LOW INTEREST.

What do you mean by "locked in low interest?" I just bought another 40 shares of one of my mutual funds and I'm in it for the long term. When the fund goes up $5 or $10 or $20, my shares are going to be worth that price no matter how bad the economy was when I bought them.

-Warik

 

[KAYNE]

INTEREST RATES ARE FIXED, WHICH MEANS THEY DO NOT CHANGE ONCE YOU BUY. INTEREST RATES ARE LOW RIGHT NOW CUZ THE ECONOMY IS SHIT!!!

KAYNE

 

[Austin316]

3 weeks ago some fucker walked in and asked me if we sold Winstrol. I asked him if he evn knew what it was, of course he didn't. Ive also been asked for EQ, Deca, and Dbol

 

[Frackal]

FRACKAL HOW MUCH DO YOU HAVE TO INVEST? THIS MAY HELP[ WITH THE QUESTION ANSWERS. ALSO WHAT HAVE YOU GANKED FROM GNC SO FAR? ONCE I WORKED THERE AND A GUY SKED FOR DBOL.

Well uhh....since I have not gotten a paycheck for 1 month, looks like I've got about 26 dollars and 47 cents....I'm thinking of going for some microsoft stock right off with that cash.

Seriously, I will have between 1-500 dollars or so to start.

 

[KAYNE]

AUSTIN......DO YOU SELL WINSTROL???


KAYNE

 

[M.O.D]

how much money?

is it money you can risk losing?

what is your time frame on how long you can tie it up?



with a medium amount of risk i could help you double your money within 6 months....but it is a very risky market and not for the weak at heart.....my knowledge is in stocks and only stocks...and yes i'm good at it if i do say so myself...banked 1600.00 today trading amzn ..

 

[Frackal]

Nothing yet HH....my boss...well...he's 'nice' but in a totally phony way, he is unbelievably critical, but I think I'm doing a good job. We get totally assfucked when it comes to payrates compared to other GNCs, but for right now, it is my best option as there is not a corporate GNC near me.

I have not worked alone yet.

 

[ciscokid1]

Yeah, mutual funds are a good place to start. You don't need a financial advisor to help you with this. It is easy. Call up a mutual fund company.....Janus, T.Rowe Price, Fidelity.....there are tons. Get a prospectus and application mailed to you check out the funds and their goals...ex. long term growth, global growth, bond fund, technology ect, ect...... there are also a ton of different types of funds all these companies offer..... they'll explain the risks of each. Now, mail them the money, and start adding to it every month as you can afford. This is called dollar cost averaging and is a good way to invest.

Good luck......remember though.......no risk, no return.

 

[M.O.D]

fuck the mutual funds, you have a bunch of wall street idots throwing darts knowing jack shit where to invest...i have been trading full time my personal account now for about 12 years...made and lost a fortune many many times until i honed my skills...the stock market is 100% pure manipulation..if you see someone on cnbc hyping a stock odds are this person is in dire need to dump shares....its all a game bro...just numbers, thats all it is..you just need to know how to read them

 

[Austin316]

Nothing yet HH....my boss...well...he's 'nice' but in a totally phony way, he is unbelievably critical, but I think I'm doing a good job. We get totally assfucked when it comes to payrates compared to other GNCs, but for right now, it is my best option as there is not a corporate GNC near me.

I have not worked alone yet.

What are they paying you?

And Kayne, I only wish. Since that bitch had no clue what it was I should of told him we didn't have it but Id sell him some if he came back the next day, in which case I would proceed to sell him allegra or some other unmarked pill for $200. Think it would of worked?

 

[HamsterHider]

OFF TOPIC BUT HAVE YOU HAD TO UNLOAD AND STOCK THE BIWEEKLY TRUCK YET? IT SUCKS ASS.
ALSO DO YOU SELL ANYTHING TO MAKE ME LOSE 10 POUNDS IN A WEEK?

 

[Warik]

INTEREST RATES ARE FIXED, WHICH MEANS THEY DO NOT CHANGE ONCE YOU BUY. INTEREST RATES ARE LOW RIGHT NOW CUZ THE ECONOMY IS SHIT!!!

What do interest rates have to do with buying mutual funds?

Am I missing something here? =(

-Warik

 

[KAYNE]

AUSTIN.........FOR THE RECORD IT WAS A SARCASTIC QUESTION. LOL. BUT IF THAT FOOL DIDNT EVEN KNOW WHAT THE HELL HE WAS TALKING ABOUT, HEHE I WOULD HAVE DONE THE SAME SHIT.

KAYNE

 

[Austin316]

OFF TOPIC BUT HAVE YOU HAD TO UNLOAD AND STOCK THE BIWEEKLY TRUCK YET? IT SUCKS ASS.
ALSO DO YOU SELL ANYTHING TO MAKE ME LOSE 10 POUNDS IN A WEEK?

You had to actually unload the stupid truck? The drivers unload it and bring the boxes in the stoor. Unpacking the fucking boxes is a major fucking pain in the ass. Especially since my fucking cunt of a manager refuses to do any manual labor so it takes a week to get totally unloaded and she bitches to us about it

 

[KAYNE]

WAIT TILL YOU GET A THOUSAND.......THEN SEND IT TO ME. I WILL INVEST IT, I PROMISE. SERIOUSLY DUDE I WILL. REALLY!!!


KAYNE

 

[Laserdude]

Put some into gold, then maybe the company that is going on with the latest IPO, I believe it is the first one since the 9/11/01, medical of some type, I think is was a inhalant form of insulin.

Good luck, and don't loose any if you can. I don't trust the economy at this point.

 

[Zebo]

Check out www.motelyfool.com

 

[Badkins21]

Don't read any of those "self-help" investment guides.

As far as reading goes, you can subscribe to Forbes, Fortune, and Money magazines for cheap...You need to learn how to read a company, not the stock.

I agree with most of what M.O.D. says...

Check out www.fool.com and Yahoo Finance, too. There are a hundred decent websites to look at. All of the online brokers have research tools, too.

 

[Freak Show]

There are two books I have read that have given me basic information to understand investing. Not a bunch of "self-help" shit like badkins said to stay away from. Just basic info to get you started like, "what's a mutual fund?" "What are futures and options?", etc. They are both put out by the Wall Street Journal.
The WSJ's Guide to Understanding Money and Investing
The WSJ's Guide to Understanding Personal Finance

If you want mutual funds but want to avoid having to rely on a manager, you could try an Index Fund. Basically it does whatever the stockmarket is doing.
Wouldn't be bad to think about a Roth IRA, too. That's money you can't touch until you're retired, but the earlier you start, the better. You will need more money than you currently have to do the IRA, I think. I'm not sure, but there may be some funds you can open with $500.

 

[Jax]

M.O.D-

what's your trading strategy?

 

[Jax]

what, is this locked now?

 

[Jax]

ok, what's that gray looking envelope next to this thread...does that mean that I've posted on it?

 

[ciscokid1]

fuck the mutual funds, you have a bunch of wall street idots throwing darts knowing jack shit where to invest...i have been trading full time my personal account now for about 12 years...made and lost a fortune many many times until i honed my skills...the stock market is 100% pure manipulation..if you see someone on cnbc hyping a stock odds are this person is in dire need to dump shares....its all a game bro...just numbers, thats all it is..you just need to know how to read them

I said it is good place to start, obviously he doesn't know enough to start throwing money into thinly traded gambles. If you are a day trader and make a living at it great but you know that you are a rare exception. So atleast if he he invest in a mutual fund he'll have some diversification he couldn't get other wise, because surely you are not going to tell me that you pick all winners.

 

[M.O.D]

read my post that you copied again...."made and lost a fortune many times"

 

[Frackal]

3 weeks ago some fucker walked in and asked me if we sold Winstrol. I asked him if he evn knew what it was, of course he didn't. Ive also been asked for EQ, Deca, and Dbol

Oh boy..I'll get fucking mad as hell at stupid shit questions like that. I take it as a personal insult along with: "You mean I have to exercise even WITH the Xenadrine?"

Austin, I make relatively crap wages for GNC, 6 dollar base pay, with a 4 dollar ceiling on commission, commission is .50c/hour more for ever 100 dollars in sales on my shift.

As soon as I get my car, I'm going to a corporate GNC, a friend of mine says he makes around 18 bucks an hour on S. Tuesdays.

Austin, do your commission parts get taxed seperately then your base pay? I will be fucking furious if it does.

 

[ciscokid1]

Right, so how many of your hairs are gray? That is if you have any left.

 

[M.O.D]

LOL.. a couple i think but still have all my hair...hey its a tough game..every single day is a battle

 

[Austin316]

Oh boy..I'll get fucking mad as hell at stupid shit questions like that. I take it as a personal insult along with: "You mean I have to exercise even WITH the Xenadrine?"

Austin, I make relatively crap wages for GNC, 6 dollar base pay, with a 4 dollar ceiling on commission, commission is .50c/hour more for ever 100 dollars in sales on my shift.

As soon as I get my car, I'm going to a corporate GNC, a friend of mine says he makes around 18 bucks an hour on S. Tuesdays.

Austin, do your commission parts get taxed seperately then your base pay? I will be fucking furious if it does.

HAHAHAH< The Xenedrine statement is sooo fuckking true!!! Ive made 31 an hour on Super Tuesday for 6 hours. At the Mall of America my friend made up to 45 an hour on super tuesday, 50 one time. Im not sure if the commision is taxed as bad, its taxed somewhat. It usually adds at least another 100 to my check

 

[ciscokid1]

Well I'm in my early 20's and have lost $25 grand since March of the previous year (that is a hell of alot for me). Fuck I could have a real decent down payment on my first house . Oh well, I guess I'll just rent the rest of my life.

 

[M.O.D]

there is a lot of money to be made in this market ...you just need to know what stocks to buy and what to avoid...and most of all when to sell...

anyone can take a profit...knowing when to take a loss and move on is the key...very few stocks i would feel ok investing in for short or long term....i make my living by trading so i cant sit on stocks....

 

[ciscokid1]

My problem is all I do is sit......with the thinking it'll bounce back up tommorow...... did that all the way until my portfolio was cut in half.

Do you trade all types of stocks? or Just small caps or Large? What do you have the best luck (for lack of a better word) with?

 

[kunta]

totally agree with you, everyone makes the mistake of selling, usually they don't want to sell at a loss and hopes it moves up while it keeps on going down and down