Related Posts
What BtC wallet do people use?
Bowl Leader
Rising Star
More Posts
‘Tis but a scratch!!
Bowl Leader
Additional Posts in Stocks
Good idea to buy some more AAPL right now?
Conversation Starter
Penn or draftkings?
Your thoughts on these positions?
Why so red? Any stocks good to buy now?
Thoughts on ARKF?
Bear market is no more
DWAC stonk of the day again??
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
1 - no money is ever guaranteed in the stock market (especially in the ST)
2 - never rely heavily on financial advice from blogs
3 - if your financial situation is not great, investing should be lower priority as you should focus on establishing an emergency fund first
Learn how to calculate a Graham number and why. Everything you learn along the way to that goal will help you make better choices. But yes, there never are any guarantees, just informed decisions.
1. Learn accounting - it's the language of finance.
2. Read up on different industries and the various performance metrics.
3. Understand different valuation methods and learn to use them yourself.
4. Forget all of the above because stocks only go up.
Hmm ok will keep in mind and start going through above points , thanks
I would advise not putting anything in the stock market unless your horizon is 10+ years. Any less and you are crossing from investing to speculation, which should only encompass a small part of your overall net worth.
Thank you for the valuable advice
I'm going to sound like an old timer, but keep these things in mind. Stocks like Tesla are not normal, and everyone and their grand mother is looking for that next unicorn.
As a rule of thumb, be careful to buy in during a "hype". Because by the time the regular public becomes aware, you're likely too late to enjoy those crazy return percentages.
You mentioned your situation not being great financially. So keep in mind, if you're not ready to lose 20-40% of your investment, do not invest in stocks. This is especially true with growth stocks, companies with a good history are safer, but offer less reward. But even those can go down drastically. Think of SolarWinds for example, it was trading in the 20's and overnight it dropped down to 17s and continued to go down. Similarly with airlines, Delta for example, before pandemic it was trading close to 50. Pandemic hit, and it went down to the 20s. There are things you just can't prevent.
Also, if you're thinking of making a quick dollar. Remember, any stocks you sell before holding them a year get taxed at a higher rate. I personally only invest in stocks with my "gambling" money. Meaning, I have maxed my 401k, RIA, and 6 months of expenses. Anything extra I stash and but stocks when on sale.
Yes, look up capital gains. Might also want to look up "wash sales" if you're thinking of buying and selling frequently.
Buy some ETFs first to get some ideas and also they are much safer bets compared to individual stocks.
Id suggest ARKK and QQQ
Evaluate your financial situation first and don’t put any funds in market you need for next 3-4 years. Markets are very volatile now and you may end up holding bags in case of downturn. Don’t FOMO, there will be lot of opportunities once you tackle your debt ( if any)
Will keep in mind
OCGN.... should go up several $’s when FDA approves it after phase 3 COVID-19 vaccine results.
Yes bought it., thanks
If your financial situation isn’t great right now, then you need to evaluate how much debt do you have, how much of emergency fund do you have, how much are you putting towards retirement, what changes you need to make. I see the stock market(non retirement accounts) as something to use when I feel comfortable with my financial situation.
Got it, will reevaluate
Look into opening a Roth IRA or IRA, stocks are taxed differently here and there are tax advantages.
Interesting, will check this
I’m sure others have said this but time in the market is more important than timing the market. if you NEED the money 6 mo to 1 yr keep it liquid and low risk. I wouldn’t trust blog posts that generically say “now is a great time”.
Yes indeed good point
Although Tesla gained a lot during last few months... was look in g for such stocks which have potential to grow
Hmm interesting graphs
Order of surplus money 1. 6 months expenses including mirtgage as savings 2. Get rid of Goodwill debt from friends and family3. Get rid of high interest debt anything above 5% pa approx 4. Long term savings like retirement fund 401 k 529 Health savings etc 5. Invest in primary excahne connected ETF/ MF 6. Invest in good stock / CD/ Fixed income 7. Invest in covered options 8. Day Trade / naked options/ Penny's stock as per your risk appetite Off course depending upon Finance knowledge you can shuffle it. You can read books like intelligent investor by Benjamin Grahm it Rich Dad poor Dad etc.
Sure, will keep in mind
Does anyone Know how much is tax if I buy and sell within 1-2 months? Is it better to hold stocks for a year to have lower taxes ?
Thank you for the advise
Buy some ETFs. If you are buying individual stock, always use limit order bot market.
If it’s a long term, it wouldn’t hurt to buy on the day good stocks are going down in price.
Sure, will do - Thanks