New to investing

[daria26]

What is the name of your state? NJ

I'm new to investing, a major part of my money is in money market account, but I'd like to invest part of it. Anybody, any suggestions? I was thinking about Charles Schwab, are they any good? Any web sites I can go to to get educated? Any guidance will be greatly appreciated. thank you!

 

[Hot Topic]

Message boards aren't necessarily the best place to get advice from because they're known to be frequented by people who push stocks for their own financial gain.

Google the Internet for definitions of financial terminology, e.g., shorting a stock, pump and dump, rating a stock as a hold and the like.

Check out websites like Business Week, Fortune or Yahoo! There are columns that will offer advice on what companies would best fit into your financial plan.

Go for diversity. Don't put most of your money into one sector or one stock. Supplement stock holdings with a contributory IRA and a Roth IRA.

You may want to find a financial advisor, but avoid one that makes money every time he or she gets a client - you - to invest in a certain stock.

Check out the library, too, for their selection of financial management books.

 

[FlyingRon]

For "investing" it really doesn't make too much of a difference which no-frills company you use (if you want to go that way).

For short term gambling, you want the absolute lowest per transaction fees to minimize the vigorish paid to the casino.

 

[abmyers]

For "investing" it really doesn't make too much of a difference which no-frills company you use (if you want to go that way).

For short term gambling, you want the absolute lowest per transaction fees to minimize the vigorish paid to the casino.

What?

Daria, without asking you 21 questions about your investment horizon, your risk tolerance, your salary, net worth etc, its impossible to give a general investment recommendation. Call a brokerage house like Merrill Lynch. If you are investing less than 500k call a discount broker such as Shwab

 

[Hot Topic]

Hold off dealing with Merrill Lynch for awhile. A banking analyst tells CNNMoney that the former CEO (Chief Executive Officer) of ML increased risk and got paid when things were good. Losses related to his decisions didn't become apparent until this year. The analyst says what happened at Merrill Lynch raises questions about risk management. He says that it's not enough to say that because the CEO left, the problem's solved. Risk oversight needs to be addressed at all levels.

He also said companies should think about shared positions. There were two presents at Merrill Lynch. When things went wrong, nobody could say who ultimately should be held accountable.

ML might hire a new CEO next week. Keep watching the financial pages and websites for updates.

 

[Hot Topic]

Sorry. That should be "two presidents."

The analyst is Michael Mayo with Deutsche Bank.

 

[Hot Topic]

Do your research before selecting a broker, and don't automatically assume that he or she has your best interest at heart. Those who work on commission sometimes have incentive to direct you to stocks that will make them, not you, money. Learn the laws that stockbrokers have to operate under.