Christian investing stock market beginners
Basic Principles of Investing: A Down-to-Earth, No-Nonsense Approach These 16 practical lessons for investing came out my 50 years of making good and bad decisions, setting goals and then abandoning them, buying good-quality stocks but also chasing performance, almost giving up after one grinding bear market, but, most of all, continuing to learn more every step of the way.
Back when I was in high school, almost every Saturday, I'd take the bus and subway from my home in Malverne, Long Island into New York City to forage around the shops on Cortlandt Street for military surplus bargains.
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By experimenting and trying to get stuff working again, I learned a great deal about radios and electronics. In fact, I learned enough to set up a little after-school business repairing car radios which, in those days, were notoriously unreliable.
By the time I was 15 , I had saved a few hundred dollars from the business which, in those days, was a princely sum to a year-old. I dearly wanted to buy an oscilloscope but Herb Bushman, a friend of our family, suggested that maybe I should buy a couple of shares of stock.
Well, this was a fairly radical idea. My father had all of his meager savings in the bank and in some War Bonds and the only thing he knew about the stock market was that it caused a lot of investors to wind up in the poorhouse during the depression.
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It just so happened that right around then I had entered a contest sponsored by RCA in which you had to write in 75 words or less why you like RCA service instruments. Lo and behold, I won one of the 5th place prizes, a spanking new vacuum tube voltmeter, that was a whole lot better than the military surplus meter I was using.
As a result, I put off the purchase of the oscilloscope and bought some shares of stock.
I remember clearly that Herb was very emphatic about not just buying shares of one company, but buying three or four. From these first small steps in investing, I learned four important lessons.
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Buying just a few shares of four stocks cost more in commissions than had I put all my money in one stock. But had I bought just one, it might well have been the wrong one. Compounding is your best friend.
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The longer you have your money working for you, the more you will gain. During seven long years in college BS, MS, MBA , I worked part time and summers and much of my income went toward college and automobile expenses.
Compounded over time, the return from your investments, particularly your holdings in the stock market, will really make your money grow and keep you well ahead of inflation. The risk of a high fluctuation gain or loss in every asset class decreases dramatically over time. After 5 years, the risk of a major loss is very low, after 10 years, it's practically zero.
After entering data on his investment holdings, sources of income, expenses, goals, risk tolerance, etc.
This is a worthwhile planning tool.
Stock comparison tool on the Smart Money web site lets you compare prices and trading volume of several stocks over varying periods of time. You can also look at earnings, financial figures, earnings per share trends, along with analyst recommendations. In case you missed them, there are two pages of deeper discussion of the items above: Click here for links to the best investment sites on the web. Web site design by Dave Ahl, e-mail Zgo aol.