Forum Thread

New to investing-suggestions

andreamccracken 13 10 September 28, 2015 at 02:51 PM
Deal
Score
0
2,949 Views

Thread Details

My new company puts money in a Scottrade account for me every month. I love it but I am really bad at understanding the market.
I guess I want what everyone else wants, hot stocks.
I know slow and steady wins the race but I would like to pick a few "fun" stocks. Something that is highly volatile and kind of interesting to watch everyday.
I did Twitter, I thought that may be the one but it's kinda blah.
Anyone have suggestions?

10 Comments

1

Sign up for a Slickdeals account to remove this ad.

Joined Dec 2003
CDI gave me free netflix!
9,237 Posts
3,317 Reputation
Pro
#2
Quote from andreamccracken View Post :
My new company puts money in a Scottrade account for me every month. I love it but I am really bad at understanding the market.
I guess I want what everyone else wants, hot stocks.
I know slow and steady wins the race but I would like to pick a few "fun" stocks. Something that is highly volatile and kind of interesting to watch everyday.
I did Twitter, I thought that may be the one but it's kinda blah.
Anyone have suggestions?
You need to provide more information to get any real valid and relevant feedback. For example:

1) What is the purpose of this investing? Short term goals, fun/gambling on investments, retirement?
2) How much money are we talking about?
3) What is your risk tolerance (kind of goes along with #1 above)?
4) Do you have other investment accounts for long-term savings/retirement?
5) Age, income, etc.
etc.

Obviously it's important to have retirement planning and utilizing accounts specifically designed for this (IRA, 401k, etc.). You can also supplement that with standard brokerage accounts. But if the money put in these is destined for long-term goals like that, you generally want to be more conservative and go with index funds or other lower risk longer focused options.

Granted those aren't very fun and have been getting hit hard lately (as have most other stocks and funds). If you're looking to just 'play' in the market, that's fine too, and you can be more aggressive if you're willing to risk most of your principle. In that case, people can certainly give stock recommendations, but you should also do your own homework. Often some of the best options for this type of investor are good quality companies that represent products or services they buy/use.
Reply Helpful Comment? 0 0
#3
Reply Helpful Comment? 0 0
Joined Sep 2005
L10: Grand Master
6,233 Posts
1,370 Reputation
#4
If you're really wanting to give this a go, you're going to have to study the market and learn about investing. By and large, most people - especially younger people - only invest (speculate) in companies they're familiar with. However, much of the real money is made in companies that most people have never heard of.
Reply Helpful Comment? 0 0
#5
"Be fearful when people are greedy, and greedy when people are fearful."

I believe the latter applies to the market's current status.
Reply Helpful Comment? 0 0
"P.S. Either you live and learn or crash and burn.I don't want to see you crash, because I am driving in the same car with you people, "

Slickest Deal so far (Not counting the tons of freebies I've acquired)

Black Friday 2010 - Samsung WF210ANW + DV210AEW (front load washer/dryer) = $366 after tax and $200 energy/C4A rebates!! (PM'd Fry's at Lowe's)
http://slickdeals.net/forums/showthread.php?sduid=72441&t=2416033

Goodwill 2011 - Apple MBP; C2D@2.4,17"+bells&whistles - $37.50!
#6
1) What is the purpose of this investing? Short term goals, fun/gambling on investments, retirement? I would like to have some fun with it. I already have a Roth IRA which is doing ok on its own. I think I want this account to be fun because I am only getting a few hundred a month into it. So I don't think it's enough to actually make it anything but fun.

2) How much money are we talking about? Few hundred a month is being put in.

3) What is your risk tolerance (kind of goes along with #1 above)? 100% risk. It is not money I need or count on.

4) Do you have other investment accounts for long-term savings/retirement? I have one Roth, I have some retirement coming from a divorce but much at all. Like maybe 14k?

5) Age, income, etc. Ugh, 48, I hate that number. My income is increasing about every 3-4 months. I am at the bottom floor of a very hot growing company and being rewarded generously by the CEO.
There is no chance of being laid off or the company failing. Growth outlook is the best I have ever seen in a company.
Reply Helpful Comment? 0 0
#7
Trying not to hijack the thread, this might be relevant to OP as well.

Quote from Brian1 View Post :
By and large, most people - especially younger people - only invest (speculate) in companies they're familiar with. However, much of the real money is made in companies that most people have never heard of.

I'd like to explore this some more, because in my case that's 89.9999% true. However, the caveat is my picks have in general been more successful (not astronomical) than the mutual funds recommended to me by "professional advisers"

I guess the question is what are good sources for identifying these unheard of companies? And other than going and getting a degree in finance, what are good resources to learn more?
Reply Helpful Comment? 0 0
Joined Oct 2007
Foxiest of the Hounds
12,494 Posts
340 Reputation
#8
Quote from andreamccracken View Post :
1) What is the purpose of this investing? Short term goals, fun/gambling on investments, retirement? I would like to have some fun with it. I already have a Roth IRA which is doing ok on its own. I think I want this account to be fun because I am only getting a few hundred a month into it. So I don't think it's enough to actually make it anything but fun.

2) How much money are we talking about? Few hundred a month is being put in.

3) What is your risk tolerance (kind of goes along with #1 above)? 100% risk. It is not money I need or count on.

4) Do you have other investment accounts for long-term savings/retirement? I have one Roth, I have some retirement coming from a divorce but much at all. Like maybe 14k?

5) Age, income, etc. Ugh, 48, I hate that number. My income is increasing about every 3-4 months. I am at the bottom floor of a very hot growing company and being rewarded generously by the CEO.
There is no chance of being laid off or the company failing. Growth outlook is the best I have ever seen in a company.
With an investment amount that small, the commission fees alone will really hamper your chances of being profitable in the long-term. My suggestion? Look into an app called Robinhood. Commission-free trades with no strings attached. Ideal for the small-scale investor such as yourself, and a pretty slick and simplistic interface that helps you slowly dip your toes into the murky waters of buying individual securities.
Reply Helpful Comment? 0 0
Quote from toolio20 View Post :
Achievements are not for the meek, it is better to forfeit inheritance of the earth so that the mighty may look upon my gamerscore, and despair. Achievements are for men who dream; men who dare; men who achieve! Men who carve out entire galaxies with nothing more than nimble cheetos-dusted fingers and their wits, and in our leisurely twilight days we shall sit by softly flickering fires with our descendants recounting the tales of these unimaginable glories.

Sign up for a Slickdeals account to remove this ad.

Joined Sep 2006
L10: Grand Master
10,112 Posts
1,274 Reputation
#9
Pick an allocation among stocks, bonds, and real estate, like 5% real estate, 10% - 50% bonds, and the rest stocks. Use cheap total market index funds for each, but if you really want to buy individual stocks, put 5% - 10% of your stock money into individual stocks. Get Peter Lynch's book, One Up On Wall Street because he had a great track record at picking stocks. Choose your stocks according to valuation (don't pay too much), growth prospects (companies don't necessarily have to be growing to be good investments), quality of management, etc. Services like Value Line, the S&P Stock Guide, and Morningstar give 1-page summaries of companies. But great companies don't necessarily have great stocks because the stock price may have been bid up too much to make them good values because the market handicaps stocks the way sports bookies assign point spreads. And always ask yourself why any company should exist and why it's better than the competition because if you can't do that, there's probably no reason to buy its stock. Peter Lynch used to make his analysts explain that in 30 seconds. But if you're going to approach stock selection the way the investment community does, it's probably better to instead put your money into a total stock market index fund because there are tons of very smart people with loads of experience already doing that.
Reply Helpful Comment? 0 0
Joined Oct 2007
Foxiest of the Hounds
12,494 Posts
340 Reputation
#10
Quote from andreamccracken View Post :
My new company puts money in a Scottrade account for me every month. I love it but I am really bad at understanding the market.
I guess I want what everyone else wants, hot stocks.
I know slow and steady wins the race but I would like to pick a few "fun" stocks. Something that is highly volatile and kind of interesting to watch everyday.
I did Twitter, I thought that may be the one but it's kinda blah.
Anyone have suggestions?
It's up 13% since the date of this post, which I'd consider much better than just "blah."
Reply Helpful Comment? 0 0
Joined Oct 2007
Foxiest of the Hounds
12,494 Posts
340 Reputation
#11
Closed at 8% on the day, for a total of 18% since your initial post.
Reply Helpful Comment? 0 0
Page 1 of 1
1
Join the Conversation
Add a Comment
 
Copyright 1999 - 2016. Slickdeals, LLC. All Rights Reserved. Copyright / Infringement Policy  •  Privacy Policy  •  Terms of Service  •  Acceptable Use Policy (Rules)  •  Interest-Based Ads
Link Copied to Clipboard