Stock newbie has some questions
Question: I am a first time investor with about 1000 to invest. What stocks do you think are currently good ones? Some that I have been looking at are PSIX, MRG, and CA.
Any comments would be very much appreciated
Answer: From your email I gather you are still in college. Congrats on getting started early, and realizing that this is a good time to invest. I put student loans in CD’s back in my college days, but you can do nicely in the market these days, if you are willing to take some risk. I don’t suggest you handle your own investing, stock by stock. There are lots of good mutual funds out there.
If you are willing to gamble your future away, you can buy AOL, or MSFT or whatever and feel like you made a sound investment. This is where the whole diversity thing comes into play. You are not going to be able to watch what stocks you are in through you should make al ist of industries you think will do well, and try to put aside some money each week to buy stocks. If you watch the market, you’ll have a better idea of what stocks to buy as well. Try and pick a new stock each week. The best investments come from the heart. Don’t expect any of those to explode next week. Don’t buy UBID. Don’t buy EBAY. Don’t buy EGGS. Those stocks are better left to people that can trade them by the minute, and are willing to lose big each day.
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