sharetrader
Results 1 to 9 of 9
  1. #1
    Junior Member
    Join Date
    Jun 2013
    Posts
    2

    Default Getting into Investing

    Hi everyone, I've been looking around this forum for a while but as a fairly young person I don't really have any experience in what's being talked about. I was just wondering how you all started in investing/where you would recommend? Finding that first step, or rather, some information on taking it, is turning out to be harder than I thought!

    - jvk

  2. #2
    born2invest
    Guest

    Default

    Quote Originally Posted by jvk View Post
    Hi everyone, I've been looking around this forum for a while but as a fairly young person I don't really have any experience in what's being talked about. I was just wondering how you all started in investing/where you would recommend? Finding that first step, or rather, some information on taking it, is turning out to be harder than I thought!

    - jvk
    Hi JVK,

    Firstly I would recommend figuring out what you like best. Stocks, property or owning your own business.

    Secondly learn as much as you can. Read every book on the subject you can get your hands on. Also read articles, newspapers, etc.

    Thirdly, once you have a bit of basic knowledge, try to find people who have the same interest as you and learn all you can from them.

    Next step is to try and figure out what type of strategy you want to use to make you some money. Whether it is long term buying and holding, flipping or trading, etc.

    The first step took me 1-2 years to figure out. The second step is an on-going process. I've been doing it since I was was 11 years old. I'm now 24. The third step is difficult as people have hidden motives. Take peoples advice and opinions with a grain of salt. I've found well meaning family members (mum and dad) to be a bit harmful in this respect as they don't know much about investments. The fourth step is generally what you feel comfortable doing.

  3. #3
    Junior Member
    Join Date
    Feb 2013
    Posts
    27

    Default

    Hi jvk, I'm a fairly new investor as well (as of a few months ago). I've found this forum a really useful resource and a good place to start. But in general...

    - If there is a term/acronym you aren't familiar with, google/wikipedia it - 30 seconds of reading can often give you 80% of the information you need to know.
    - Signing up to direct broking (a discount DIY online share brokerage owned by ANZ) and reading some of the beginner investor information there.
    - Read some books about investing. One Up on Wall Street and The Intelligent Investor are two popular books to start with - I'm half way through One Up on Wall Street myself.

  4. #4
    Junior Member
    Join Date
    Feb 2013
    Posts
    27

    Default

    Something I've been meaning to ask on here for a while:

    What other books would people recommend for beginner investors or which you might have found useful? (other than the two mentioned above)

    Cheers

  5. #5
    Veteran novice
    Join Date
    Jun 2007
    Location
    , , .
    Posts
    7,289

    Default

    Welcome to the forum, jvk.

    There are many and varied forms of "initiation" but many of us became involved through working in the financial sector in one capacity or other, listening to more experienced types and absorbing the craft through osmosis - if you get my drift.

    If you don't have that advantage it becomes a matter of reading and study - all the financial pages of the daily press, every free financial website - many of the best now charge but the NZ Herald, Bloomberg, Stuff Business, The Age etc are still free. There are many good books on investing - you'll find them mentioned in these threads from time to time - and a basic understanding of company accounting is essential. So it's a lot of work and study but if the interest is there, you'll find it to be a fascinating absorption. Good luck!
    Last edited by macduffy; 20-08-2013 at 02:45 PM.

  6. #6
    Junior Member
    Join Date
    Jun 2013
    Posts
    2

    Default

    Thanks so much for the information everyone, as a 20 year old university student funds are hard to come by but I'd much rather they be doing something useful rather than sitting in my thoroughly depressing bank account.
    I have done a basic finance and accounting paper so know the basics but will definitely look into the books that have been pointed out (and if anyone does have any other book ideas both Frankenstein and I would love to know them!)

    If anyone does have anymore tips and stories that would be brilliant too!

  7. #7
    born2invest
    Guest

    Default

    Quote Originally Posted by jvk View Post
    Thanks so much for the information everyone, as a 20 year old university student funds are hard to come by but I'd much rather they be doing something useful rather than sitting in my thoroughly depressing bank account.
    I have done a basic finance and accounting paper so know the basics but will definitely look into the books that have been pointed out (and if anyone does have any other book ideas both Frankenstein and I would love to know them!)

    If anyone does have anymore tips and stories that would be brilliant too!
    Approach ASB, BNZ, ANZ, Westpac and get a $1000 tertiary loan.

    Use that $4000 to invest in shares. Learn as you go. I found I could talk about it all day. But it wasn't until I had some money on the line that my attention to detail on the company I invested into really skyrocketed.

    With the $5 monthly fee for having the interest free loans in place it is $240 a year across all banks which is essentially a 6% interest loan.

    Could be a good learning curve. Although a better way would be to just save up the $4000 by working a part time job during university. Or even starting your own business in uni? You could organise dance parties, hire a hall and a DJ and sell tickets? Or you could put together a shuttle to and from uni and charge a fee? Or you could do hampers and buy in bulk and then sell to uni students?

    I didn't study finance or anything commerce related but I sat in on some lectures on investment for free and learnt DCF analysis in a week. No one in the class had a clue who I was but I didn't mind. You get lost amongst the other 100's of students.

  8. #8
    Junior Member
    Join Date
    Feb 2013
    Posts
    27

    Default

    Awesome, thanks KW - those podcasts sound promising, will definitely check out both

  9. #9
    Member
    Join Date
    Mar 2013
    Posts
    360

    Default

    Does anyone have a book they highly recommend for traders. I see intelligent investor seems to be the favourite for value investors but im more interested in a book that explains TA and trading extremely well.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •