[mage lang="" source="flickr"]penny stocks books[/mage]
can someone recommend how to get started in the stock market?
I am a soon-to-be college grad with a B.S. in Risk Management. I don’t have a ton of money to start out with, but I’m really interested in the stock market. i am not looking for something that takes YEARS to earn money on. I have looked into day trading, but I think it may be a little bit too much to start with. Could someone recommend a more timely approach than day trading, but not taking a year? I’m thinking weeks/months would be a good time line for myself. Secondly, I would like suggestions for a book to help myself get started. As I said…I don’t have a lot to start with, and that is why the penny stocks looked better to me. Thanks in advance.
We all want to double our money in months or even weeks if possible. However, this sort of thinking is dreaming. A more reasonable expectation in stocks is that you will average about 10% a year over the next 40 years. Some years you might make 40%, other years you might lose 20%, but 10% a year is a reasonable expectation over a lifetime.
Now I admit you might buy a penny stock and have it multiply by 10 times in 3 months, but the odds of that happening are about as likely as buying a winning lottery ticket. Most people spread their money out over many stocks, and average about 10%.
As far as books to read, one excellent book is Burton Malkiel’s “A Random Walk down Wall Street.” It discusses how to build a safe, balanced portfolio of stocks. You can find it in most libraries.
Other good books are:
The Bogleheads’ Guide to Investing
The Investor’s Manifesto: Preparing for Prosperity, Armageddon, and Everything in Between
The Four Pillars of Investing: Lessons for Building a Winning Portfolio
The Only Guide to a Winning Investment Strategy You’ll Ever Need: The Way Smart Money Invests Today
The New Coffeehouse Investor: How to Build Wealth, Ignore Wall Street, and Get on with Your Life
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