Anyone play the stock market?

[thebiglebowski]

I'm thinking about giving it a shot but I have absolutely no experience with it. What is a good site to use to buy/sell online for cheap and maybe a site to get some information about stocks? I'd appreciate just a starting point.

[sgoodcore]

You're best bet is buying a book and reading up on the market before you ever start. I would get this one:

http://www.amazon.com/Intelligent-Investor-Definitive-Investing-Practical/dp/0060555661/ref=sr_1_2?ie=UTF8&s=books&qid=1277160785&sr=8-2

[Guest eriathomas]

I have like $10k invested, but my Dad does everything for me since him and my late Grandfather were really into that sort of stuff. So far he's been doing pretty good with my money it seems.

[mcm1610]

You don't (or at least, shouldn't) PLAY the stock market. Anyone in it short term or making moves quite often is probably not doing well.

Your best bet is to put money in index funds and let it ride. There's actually a new approach about buying on margin or with futures to dive in way over your head when your young to diversify across time, which is fairly interesting and the evidence around it is very convincing. This is an alternative to the age-rule or something like that.

Over time, the S&P 500 index fund (SPX) or a SPDR fund is probably the best investment option available. It's average annual growth since 1870 is like 8% or so. It's the stock market, though, so you're not fool-proof, but if you're not willing to risk anything, go find yourself some government bonds.

[thebiglebowski]

You don't (or at least, shouldn't) PLAY the stock market. Anyone in it short term or making moves quite often is probably not doing well.

Your best bet is to put money in index funds and let it ride. There's actually a new approach about buying on margin or with futures to dive in way over your head when your young to diversify across time, which is fairly interesting and the evidence around it is very convincing. This is an alternative to the age-rule or something like that.

Over time, the S&P 500 index fund (SPX) or a SPDR fund is probably the best investment option available. It's average annual growth since 1870 is like 8% or so. It's the stock market, though, so you're not fool-proof, but if you're not willing to risk anything, go find yourself some government bonds.

I appreciate the advice but I'm not really thinking of this as my retirement. I want to see if I can play some hunches, buy stuff that is high risk/high reward, and see what I can do. If I lose $500 it won't be the worst thing in the world.

I guess I am saying I see it more like gambling than a long term investment. I just want to make sure I am gambling in a smart way and giving myself the best chance to win.

Thanks for the book recommendation, Sammy.

[adammuzzy]

just go spend 500 bucks on 20 dollar scratch tickets.

way more fun than looking at a stock ticker.

[¯\_(ツ)_/¯]

my friend bought AIG when it was almost worthless, now its almost $40 a share.

[thebiglebowski]

my friend bought AIG when it was almost worthless, now its almost $40 a share.

Kind of the thing I am going for. Maybe BP? I don't know. I haven't researched anything. I just want to read up a little bit so I'm not a fish and give it a try.

[Guest eriathomas]

I think I have a bunch in Ford, it's gone up like $3-4 since I bought it.

[thebiglebowski]

I think I have a bunch in Ford, it's gone up like $3-4 since I bought it.

I live in Detroit and work at a University that does a ton of work with the big 3. In my opinion, Ford is safe, GM has a higher risk/reward, chrysler is a sinking ship that is on the slow path to bankruptcy.

Netflix is another thing I was looking into. That instant streaming stuff is going to put all the video stores out of business.

[rocknroll76]

I just want to make sure I am gambling in a smart way

???

Be smart with your money. If you're serious, then you should probably take the time to talk to an investor. If you have a large enough chunk of money at a young age, it could be a real blessing!

[thebiglebowski]

I just want to make sure I am gambling in a smart way

???

Be smart with your money. If you're serious, then you should probably take the time to talk to an investor. If you have a large enough chunk of money at a young age, it could be a real blessing!

I appreciate the concern, but like I said earlier, I'm young, it's not a lot of money, and I'm not saving for my retirement. I just want to try it form a little while, see if I can do better than 5 or 10% a year (like I should get if I let someone else do it for me). It's a trial run until I start being serious about it in a year or two.

IF I can read a book on investing, pay attention to the ticker a little, and do as good as if I had someone else doing it for me (which I know if far from a sure thing), then why pay someone else to do it? I just want to try.

I'm still wonder what a good site to use to buy and sell is. I think etrade is obvious but I'm wondering if there are cheaper ones out there.

[MattyIceyo]

Should check out Aflac stock. I get it because I work there, and its always in the green and going up. Its about 45.00 or so...

[thebiglebowski]

Should check out Aflac stock. I get it because I work there, and its always in the green and going up. Its about 45.00 or so...

Thanks. I will consider it.

Side Note - I love party down! Almost as good as Veronica Mars was.

[Guest eriathomas]

I think I have a bunch in Ford, it's gone up like $3-4 since I bought it.

I live in Detroit and work at a University that does a ton of work with the big 3. In my opinion, Ford is safe, GM has a higher risk/reward, chrysler is a sinking ship that is on the slow path to bankruptcy

Yeah, Ford was the only one not bailed out, so we figured it'd be good. My Dad had some other stats on them too, so I just went with it.

[goraiders]

You don't (or at least, shouldn't) PLAY the stock market. Anyone in it short term or making moves quite often is probably not doing well.

Your best bet is to put money in index funds and let it ride. There's actually a new approach about buying on margin or with futures to dive in way over your head when your young to diversify across time, which is fairly interesting and the evidence around it is very convincing. This is an alternative to the age-rule or something like that.

Over time, the S&P 500 index fund (SPX) or a SPDR fund is probably the best investment option available. It's average annual growth since 1870 is like 8% or so. It's the stock market, though, so you're not fool-proof, but if you're not willing to risk anything, go find yourself some government bonds.

This!

[mcm1610]

For trading sites, don't go with anything you see advertising for all the time. As a general "rule", they have higher fees because they are covering their advertising costs with any money they can get from you.

Look into Vanguard and.... I'm forgetting the other one right now.

[xxmartinxx]

Netflix is another thing I was looking into. That instant streaming stuff is going to put all the video stores out of business.

I'd avoid Netflix.

I've been a Netflix user for almost 10 years and just canceled my account. Their prices have increased and their service has declined to the point where it's cheaper and easier to go to Red Box. They're not going to survive another 10 years and their streaming isn't going to save them.

[lonesomexloveus]

Netflix is another thing I was looking into. That instant streaming stuff is going to put all the video stores out of business.

I'd avoid Netflix.

I've been a Netflix user for almost 10 years and just canceled my account. Their prices have increased and their service has declined to the point where it's cheaper and easier to go to Red Box. They're not going to survive another 10 years and their streaming isn't going to save them.

i just switched to netflix from blockbuster (i know, i know) and i couldn't be happier. i get movies in the mail with just a days turn around time, and theres always a million things i want to stream. especially in terms of tv shows. what do you dislike about them?

[flood]

netflix survives until the networks go straight on demand for everything... and its slowly going that way.... i mean now you reduce your package to the single disc, and get unlimited download... eventually the bandwidth is more than the postage.

also... $500 isn't a lot to start with... especially when you're looking at per trade fees and whatnot.... even if you make a 10% gain... thats pretty much close to wiped out with trade + broker fees.

[evvandflow]

just go spend 500 bucks on 20 dollar scratch tickets.

way more fun than looking at a stock ticker.

if only knew how terrible your odds are to win even half of that back...

and yes, i have a bunch of long term investments. i wouldnt say i 'play' the market at all though.

[jasonskanks]

I'd avoid Netflix.

I've been a Netflix user for almost 10 years and just canceled my account. Their prices have increased and their service has declined to the point where it's cheaper and easier to go to Red Box. They're not going to survive another 10 years and their streaming isn't going to save them.

i just switched to netflix from blockbuster (i know, i know) and i couldn't be happier. i get movies in the mail with just a days turn around time, and theres always a million things i want to stream. especially in terms of tv shows. what do you dislike about them?

they will slow down soon. i dropped them because after a while it seemed like it took forever to get a movie. i completely agree with redbox. i love those.

[Guest eriathomas]

I mainly use my Netflix for streaming. When I do get the occasional DVD, it either takes one-day or like 5. It's sort of inconsistent for hub only being like 30 miles away.

[malestudent15]

Good tutorial right here.

[adamlikesmusic]

In 8th grade computers class we played the stock market game. Everyone in the class was given 100k in funny money and through whatever software it was, we made purchases, sold, traded, all that shit. It was all done in real time, with real price fluctuations, just none of it was real. I came in 2nd in my class.

That'd be a risk free way to play the stock market.