Steven asks…
How can I start to invest and understand stocks as a teenager?
Hi! I am fourteen years old, and I am interested in buying and trading stocks, and how to understand the market and all of the terms. I always find myself looking at stocks for companies that I am interested in, mostly computer manufactures such as Apple, Google, Microsoft, HP, Sony, Microsoft etc. I am interested in how much money I would need to invest and also how to understand any of the market terms. Are there any guides, or books that would help me understand any of this? I could family friends I know that are stock brokers and involved in that industry but I would like to have a general understanding first. Thank you !
admin answers:
Great question. I like Joe's answer below, too. Here's my usual response:
An introductory book like _Stock Markets for Dummies_ is a good place to start. This will give you a basic explanation of most things there are to know about the mechanics of stock investing.
Investors Business Daily (IBD) is a solid daily resource (and its complement, www.investors.com ). It's a better newspaper than the Wall Street Journal and it is built around a particular approach to trading. You could read _How to Make Money in Stocks_ by William O'Neil too--he's the founder of IBD.
Search your local library for other books on stock investing. Try to absorb as much knowledge and understanding as you can.
After you have extensively researched and gained a solid foundation/education then look to open a brokerage account and paper trade--this is trading with play money before you put real capital at risk. You should do extensively before you eventually place your first trade live. Your early live trades should be with a very small position size. Only increase position size when you have done well to limit losses when the market has turned against you.
George asks…
How to invest in the stock market as a teen.?
How do I and where do I invest in the stock market as a teenager im a 15 year old boy and want to invest in the stock market. Thank you.
admin answers:
You will need your parents to agree to open a custodial account so you can trade stocks. You have to be 18 to 21 to legally sign contracts. A discount broker will be the best place to start after you do lots of research. Read books, consider joining a teen investment club in your area, watch CNBC.
Michael asks…
Do you think that getting a "job" as a Teenager is really a good thing to do?
I never want to work for anyone in my whole life, and as far as I'm concerned, getting a job working the till at a grocery store, mopping up floors, and flipping burgers is not a good thing.
In my opinion, all it does is train you to be an employee or "slave" so you can work for other people for the rest of your life. What does it teach you about management skills? It teaches you how to complete menial tasks and take orders. It basically trains you to be a part of the rat race when you're older working a 9-5 job for a mediocre salary.
I'm 16 and instead of doing this I've been investing in the stock market (with great success and I'm actually learning something) and this summer me and a group of people are going to create a website (I'm not getting into anymore detail because this could make us millionaires if we do it right and I can't share)
Do you think I'm doing the right thing? Do you agree with me or disagree.
admin answers:
"In my opinion, all it does is train you to be an employee or "slave" so you can work for other people for the rest of your life. What does it teach you about management skills? It teaches you how to complete menial tasks and take orders. It basically trains you to be a part of the rat race when you're older working a 9-5 job for a mediocre salary."
That's definitely over-analyzing the whole situation. I have plenty of friends with jobs, and all it is for them is a way to make some extra money. You have to listen to teachers at school, listening to people is something you're going to have to do in life. Doesn't mean you're going to be a slave though.
What you're doing is great, but it's not for a lot of people. So while you have your opinion, others have theirs.
I think having a job, whether traditional or not, is a good thing. And I disagree with the fact that you think a traditional job is bad, just because you have to listen to people.
Sandy asks…
I need help with my argumentative e essay HELP PLEASE!!!?
HERE IS..!
English, Math, Social Studies, and Science those are just a few classes that are require in order to graduate high school. Students benefit a lot from taking those classes especially if they are planning on furthering their education. With furthering education there is a need to have independence and confidence. A perfect way would be to teach about personal financing. It would teach students how to save money, prevent bad credit, and how to invest.
Saving money as a teenager can be difficult especially if the person has no one to guide them through it. The last thing on a teenagers mind is their future financially. A student spends around $50 a month on clothes which is $2,000 a year that is a lot of money. If they would learn to only spend their money on stuff they need they could save that money and used it in the long run. We are always going to need money and we all need to learn to save money, why not start early?
One important reason why people have trouble with big debts and credit issues is due to the lack of education on personal financing. If we wait too long to teach students about credit it might be too late. As soon as a student graduates high school and moves on to college they are navigating life by themselves for the first time without their parents; that is when is when most likely to run into credit problems. With this class they can learn the importance on credit card use, how to read statements, how important it is to pay the balance, and credit reports. The biggest factor in young adults getting into debt is due to credit cards because they do not understand that credit limits are not a source of income. Our school system can change all of that by the teaching personal financing.
Just imagine $20 growing. Sounds impossible, but is not. The only way that could happen is by investing. Students can learn on what and how to invest their money. With investing they can beat inflation, achieve financial goals and retirement. Yes, it might be too early for them to think about retirement, but time does fly is better to be prepared. They can also learn to invest in stocks, mutual funds, or bonds.
A lot of people might think that the personal financing class is a waste of time. Which I do understand that because a parent should teach their kids about managing their money. But these days a lot of parents are busy working two jobs to pay the bills, the parent barely has time to help their kids with their homework. We can help the parents by teaching their kids all these valuable skills. By knowing all of the skills they would not be loss when is time for them to manage their money. It gives them a sense of independence and self-confidence because they would know what they are doing.
Knowing that students would learn how to use their money wisely is great because they would use all the skills learned for life. Everyone is always dealing with money whether is too much or not enough. This class would prevent bad credit and it would teach students the value of money in many different ways. Not to mention they will be confident on spending their money wisely. Therefore I strongly believe that a personal financing class should be mandatory in all the high schools.
admin answers:
Not bad, but make sure to fix the sentence structure. Also focus on relating your information to your main point.
Good luck!
Maria asks…
Why the Wealthiest & Most powerful Men on earth are Mexican-Americans or Mexican Illuminati ?
Latin America's richest man added more than $6 billion to his fortune this year. He sold off his stakes in MCI and Altria and used the proceeds to up his holding in Saks Inc; in his fixed line operator, Telmex; and in America Movil, his flagship wireless telecom outfit. The latest was a particularly smart move as America Movil's stock has almost doubled in the past year.
He also owns 71% of a new public company, Impulsora del Desarollo Economico de America Latina, which he spun off from financial services giant Grupo Financiero Inbursa. Inbursa also invested in a start-up budget airline called Volaris. An art collector, Slim houses his Rodin sculptures in Mexico City's Museo Soumaya, the museum he funded and named after his late wife. His Grupo Carso is reportedly a combination of his first name and his late wife's.
Slim, the son of Lebanese immigrants, began buying businesses in Mexico as the government started selling companies in need of financing after its 1982 debt default. In 1990, he teamed up with Southwestern Bell Corp. and France Telecom SA to buy state-owned Telmex, which now has a market capitalization of more than $20 billion.
Carlos Slim Helú (born January 28 , 1940 in Mexico City ) is Latin America 's richest man (and #3 in the world) according to Forbes . His wealth comes from his businesses in the communications industry, Teléfonos de México and América Móvil telecommunication companies.
His father was Julián Slim Haddad ( Yusef Salim Haddad ), a Lebanese Maronite Christian, who as a teenager fled to Mexico in 1902 , escaping the harsh military rule of the Ottoman Turks . His father and two of his older brothers arrived at the Mexican port of Tampico , making their way to Mexico City where, in 1911 , Julian established a dry goods store called La Estrella del Oriente and took a gamble and bought up some prime real estate in the city core-a shrewd move as it turned out.
'That was courage,' says Slim Helu, 'He taught me no matter how bad a crisis gets, Mexico isn't going to disappear, and that if I have confidence in the country, any sound investment will eventually pay off.'
Slim Haddad married Linda Helu, daughter of another prosperous Lebanese merchant, and had six children. Carlos Slim Helu was the fifth of the six children. Carlos credits his father as his mentor in business, retailing and finance. Julian Slim Haddad died in 1952 , leaving his family a moderately prosperous economic base from which Carlos launched his successful financial career.
Slim has six children and lives in Mexico City. He is an engineer by profession, graduated from the Universidad Nacional Autónoma de México (UNAM) (National Autonomous University of Mexico) in 1961, where before graduating he taught Algebra and Linear Programming . He has given lectures in public and private institutions, and also in international bodies such as the Economic Commission for Latin America (ECLA).
He has been vice-president of the Mexican Stock Exchange and President of the Mexican Association of Brokerage Houses . He was the first President of the Latin-American Committee of the New York Stock Exchange Administration Council , and was in office from 1996 through 1998 . He is a director at the Board of Directors of the Philip Morris Companies and Alcatel , as well as for SBC Communications , a position from which he retired in July 2004 to devote more time to the Latin American Development Fund , focusing on infrastructure , health and education , amongst the most relevant work. He later built an important Mexican financial-industrial empires, Grupo Carso , that owns, among other companies the COMPUSA electronic retail chain. After 28 years he became the Honorary Lifetime Chairman of the business. He also holds this position in TELMEX, América Móvil and Grupo Financiero Inbursa. Slim opposes free trade and free market prescriptions for developing Latin economies. Though he maintains an actively involvement in his companies, his three sons Carlos, Marco Antonio and Patrick Slim Domit head them.
Slim bought Telmex during then-president Carlos Salinas 's privatization spree. Mexicans complain that after the transfer, telephone prices went up dramatically but without any comparable change in service quality, although this situation was largely rectified with the subsequent opening up of the long-distance market to other competing providers. Many critics suspect that Slim's purchase of Telmex was corrupt, as were many of Salinas's privatizations.
Slim has been awarded the Entrepreneurial Merit Medal of Honor from Mexico's Chamber of Commerce ; he received the " Golden Plate Award ", granted by the American Academy of Achievement and the Government of Belgium awarded him the Leopold II Commander Medal
admin answers:
Dude, why is the Best Mexico has to offer, Lebanese Ancestry, Slim letting 12-30 million of Mexico's cream of the crop sneak into USA??
How come he doesn't try to improve his country so they're not all trying to escape it?
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