reliable stock broker to get started?
Tuesday, August 25th, 2009 at
9:52 pm
i would like to get a small porfolio started nothing big im just a simple joe looking to invest and sell to make some extra emergency money in case things get worse. (i know the new american dream) i just concerend for my families future. what is a good stock broker to go with any suggestions or opinions?
thank you
Hans
Filed under: Natural Gas Futures
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hey there, my name’s also Hans.
anyway, since you are just getting started. It would be wise to know, what’s your appetite for risk and reward. Obviously, the greater the risk, the greater the reward. If you’re looking for long term wealth with stability, i highly recommend a mutual fund. If you’re young and aggressive, i think you should consider one of those online discounter brokerage film, like Zecco, Scottrade, Charles Schwab, Etrade.
Anyway, since the market is in terrible shape. There are tons of bargains out there. Highly leverage firm with high beta(higher risk) includes Apple, IBM, BHP, Cisco, Intel. If you’re looking for blue chip with conservative risk look for Johnson Johnson, Pfizer, GE, or Microsoft.
As for me, I’m planning on putting about 5000 on the stock market, and cash out when the market’s around 14000 again.
Reliable brokers with proven history of making clients money are by far very few. These people take on clients assets valued at minimum of $1 million.
So, most of us ends up with mediocre brokers. I’ve been investing in stock market for the past 18 years and had more success in picking stocks myself than any brokers I had known in the past. I studied investment market, read many investment books, studied financial analysis of businesses and kept watchful eyes on the market on a daily basis. It took me about 2 years to feel comfortable about myself. I invested a very small amount in the beginning during the learning period, so that any mistakes were small and did not cost me a fortune in my hard earned dollars.
One option you might have instead of hiring a broker is to invest in mutual funds or ETF’s (exchange traded funds). These funds with reputable brokerage firms have professional fund manager along with many analysts working for the fund manager. You have to pay fees (expenses) for the fund management. These expenses vary from fund to fund. Vanguard offers the lowest expense ratio of average 0.5%. But some fund charges as much as 2 to 3%. So, beware.