For a long time, whenever I thought of the stock market, I got a picture in my mind of some curmudgeonly old man in a high-rise office yelling "Sell! Sell! Sell!" Maybe it's because I saw Trading Places when I was a kid. I still get that picture in my mind sometimes (especially because it makes me laugh) but I know that there's much more to the world of finance.
(Photo by Walter Rodriguez, used under Creative Commons license)
Getting Stock Picks
Fortunately, these days it's a lot easier for the average citizen to get their foot in the door of the financial world. Companies like Scottrade, Ameritrade, E*Trade, Charles Schwab, and others have all made it easier for people to trade stocks.
The question that I face, then, is not how to trade, but which stocks. For this advice I usually look to the TV experts from shows like Fast Money and Mad Money - people like Pete Najarian, Karen Finerman, Guy Adami, and Jim Cramer. They're the experts, so I don't have to be, right? That's the theory, anyway.
The only remaining problem, then, is that even though they're speaking English (or some form of it) I can't understand half of what they're saying. It's like they have their own special dialect or something. Reading the recaps helps, but even then I sometimes have questions about what they're talking about. When that's the case, I usually refer to one (or both) of two sources: Investopedia and InvestorWords. They're both great sources for finding out what exactly all these people are talking about. The other resource I use a lot, mostly just to look up information about a company, is Yahoo! Finance.
I know that there is infinitely more that I could learn about the stock market, and I probably would if that were my profession. But it's not my profession (I have one of those already). For me, it's something I get the opportunity to do to hopefully make some extra money in my spare time.
Vote on the most helpful links:
Fast Money Stock Picks
All the stock picks from your favorite experts: Pe more...0 points
Jim Cramer's Mad Money Stock Picks
Stock picks and tools from Jim Cramer's Mad Money0 points
InvestorWords
A source for finding out everything you want to kn more...0 points
Investopedia
Source For Investing Education. Includes the most more...0 points
Yahoo! Finance
At Yahoo! Finance, you get free stock quotes, up t more...0 points
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