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Originally Posted by shnomac77
Got to start sometime right??? Seriously if you have any tidbits feel free to throw them my way. Im just starting at the whole "let my money make money" thing and im pretty clueless..... Something I wish I would have learned about a looooong time ago!
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I have been in the brokerage business for a little over 12 years now, this is a good time to start learning, but a bad time to start investing unless you really know what you are doing and even then it is very dangerous.
If you are looking to wade in try a mock portfolio at like CNNFinance where you can build any number of portfolio's (collections of stocks) and put in what you "fake" paid for them, how many shares of each symbol, and then see how you do.
Another really great sight for a newbie is The Motley Fool
http://www.fool.com
All kinds of free courses, tools, and advise, just don't get suckered in to paying for anything, all the basics are out there for free, buying investment newsletters and such looks really good but usally just suck up your cash and don't pay off.
Right now good plays are things like Proctor & Gamble, MacDonalds, WalMart, things people need no matter what or are likely to buy in these times. The financial companies look cheap but there is still a ton of toxic debt out there and no one knows where it all is, so no BofA, Citi, JPMC, Wells right now. Real Estate, not only no but hell no!
You want a risk play, look at Gold, Med Tech, and some aggie's like Archer-Danials Midland (ADM).
But check out the Fool site, it will get you pointed in the right direction and also use the free tools to see what would have happened had you used real money.
The only sure thing about the market it that it punishes ignorance as if it was a capital crime!
