Stock Trading for Dummies?

Stock Trading for Dummies?

This is a discussion on Stock Trading for Dummies? within the Off Topic & Humor Discussion forums, part of the The Back Porch category; I ask our company's agent for our 401K accounts about investing in a specific company. To my dismay, he told me that only investments in ...

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  1. #1
    Member Array DamnitBob's Avatar
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    Stock Trading for Dummies?

    I ask our company's agent for our 401K accounts about investing in a specific company. To my dismay, he told me that only investments in a group of company's is allowed with our 401K's. I am interested investing in Ruger and possibly Smith & Wesson. Anyone already an investor? Any information would be appreciated.

    Thanks!

    Bob


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    Member Array lyz_grace's Avatar
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    I have a few Smith and Wesson AND Sturm Ruger. Can't say that I have much info, though... other that they're going down like everything else You'd do better going and looking at some tickers. Both are pretty steady, RGR a little more so.

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    I assume therefore that you plan to invest in these outside your 401 account. Keep in mind that
    one reason for the limitations on what companies they allow is to hopefully keep you from making
    bad choices and investing where you will likely lose.

    Go on line and find the Prospectus for each of the companies you want to invest in, or get them
    from a broker. Go through the balance sheets and carefully read the statements, and read between
    the lines if you know what I mean.

    Then use the net to do some research on the history of the stock you are interested in, on the price earnings
    ratios (how much money they earn per share), on their dividend returns if any. Find out what suits are
    pending, what news releases they have put out which might affect the future value of the stock.

    In terms of complete disclosure, I never do any of that, and I lose almost every time.
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    Member Array Dutch1951's Avatar
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    Buy gold or silver instead........ the dollar, which is what you earn in stock, isn't fairing to well, nor will it be........

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    I invested in rifle stocks, got a pile of M1a and Garand stocks.

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    You can open an online trading account fairly easily.

    TradeKing, Scottrade, E-Trade.

    Lots of companies to choose from. Most accounts are around 500$ to start. You can buy whatever your heart desires. I would advise you to do some reading on how to read stock charts and graphs, etc.

    Doing your own trading is lots of fun and very addicting, but you have to DO YOUR HOMEWORK before you dive in.
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    Quote Originally Posted by Dutch1951 View Post
    Buy gold or silver instead........ the dollar, which is what you earn in stock, isn't fairing to well, nor will it be........
    I can carry a lot of cash in my pocket. Gold, not so much. It pulls my pants down.
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    Member Array Ransom's Avatar
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    Quote Originally Posted by OldVet View Post
    I can carry a lot of cash in my pocket. Gold, not so much. It pulls my pants down.
    Put on your good gun belt. That ought to hold 'em up alright.

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    Just some things to consider: are you buying b/c you just want to own the stock of your favorite gun company? - fine, but don't get in too deep. If you're getting in b/c it's up, next question is how much higher will it go - buy cheap, sell dear - not the other way around. If you're reaching for a "Dummies" book, don't experiment with your retirement - there's a reason those mutual fund managers get paid what they do. If you really want to get into trading your own portfolio, I'd do a lot of reading, and even more paper trading. If you can get access to daily historical data and a "paper trading" program, great; step through the ups and downs on numerous stocks to see if you can really stomach the dives as well as climbs. Have fun.

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    Member Array MisterAvis's Avatar
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    Quote Originally Posted by OldVet View Post
    I can carry a lot of cash in my pocket. Gold, not so much. It pulls my pants down.
    That's good. Because you're going to need A LOT.
    inflation.jpg
    My 401k is so long gone it isn't funny.
    If I had bought silver instead up front I'd have double what I put in now instead of nothing.
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    VIP Member Array suntzu's Avatar
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    Invest in 2 or three solid things for your children when they are born and tuck away 50 to 100 dallars a month more if you can. Put it in a trust so they can't touch it. The will have over 6 figures by the time the go to college and not have to worry about loans and being broke when they get done.

    My son is in a very good school and he said that with his tuition fully paid he can concentrate on his studies. He said many of friends are worried about tuition semester to semester.

    My 2 cents.

    BTW: he will have money left over to start his life when he graduates.
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    Senior Member Array CanuckQue's Avatar
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    I like value investing, especially as a beginner. Figure out which industries pay reasonable dividends and who have products you think will be viable for a long long time. Then once you've decided which industry, pick the stock that has the fundamentals you like.

    Use this in google as a search term

    NYSE:RGR
    then
    NASDAQ: SWHC

    That should give you their financial chart (lol, look at that Ruger growth since Obama! that's pretty funny!). Click on the chart to access their fundamentals.
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    Buying individual stocks for investment is different than investing in a 401K. I suppose you could buy the individual stocks and hold them in an IRA which still gets you the tax deduction - assuming you qualify. This is just my opinion but if you have any outstanding debt other than a mortgage, don't have three to six months expenses in an emergency fund, and aren't already saving at least 10-15% for retirement then you should not contemplate other investments.

    I have heard good things about these stocks.

    Silver is tanking. I want to sell a few items but the price is to low.

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    Quote Originally Posted by Scramble4a5 View Post
    Buying individual stocks for investment is different than investing in a 401K. I suppose you could buy the individual stocks and hold them in an IRA which still gets you the tax deduction - assuming you qualify. This is just my opinion but if you have any outstanding debt other than a mortgage, don't have three to six months expenses in an emergency fund, and aren't already saving at least 10-15% for retirement then you should not contemplate other investments.

    I have heard good things about these stocks.

    Silver is tanking. I want to sell a few items but the price is to low.
    Part in bold, indeed.

    One of the peculiarities of investing in these retirement accounts is that there is no way to
    account for losses, or use losses in them to offset taxation on gains anywhere. If you do your stock investment outside of retirement accounts you can balance some of your capital gains (income) against your losses when you file Schedule D.

    The tax bite on retirement accounts can be substantial if you have even a modest income from other sources.

    IMO, investing in retirement accounts (IRAs, 401k, TSP) has been heavily promoted but is in some ways scam and gimmick.

    If I had it to do over I'd probably have done all investment outside of these "tax advantaged" accounts because
    there are too many pitfalls, tricks and gimmicks, prohibitions, gotchyas, and penalties. And if you want the funds
    to become an inheritance for a child, a whole can or worms gets opened up if things aren't handled exactly
    the right way. KISS applies.
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    Member Array DamnitBob's Avatar
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    Thanks for the reply's so far. I'm thinking about this as a long term investment in addition to my 401K. A lot to think about, going to do a lot of studying!
    fail_187 likes this.

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