Where & how to start?

[conguer]

I started investing when I was 16 and and very responsible with money but life took some loops and turns and now I find myself starting again at 36! I feel a sense of urgency to start making money but I don't want to blow all that I have again. I think I might open up a trading account but I don't really know what I should be doing: buying and selling everyday or holding for a long time? dividend? blue chip? s&p 500? EFT? reading financials???

Can someone just tell me what has worked for them?
Basically I can maybe gather $15K for investments and maybe just leave it somewhere without having to check it everyday. Although, if I knew how to trade it would be fun to be more interactive as well.

My goal is to at minimum make some money for retirement. My dream would be to start trading for REAL profit to live on.

Any advice would be greatly appreciated. thanks

[Just a Guy]

Well, first I'd suggest you try and curb the "sense of urgency to make money". I find people with that need often make mistakes.

Unless you really know what you are doing, I'd avoid the "excitement" of day, or frequent trading.

Even though the "experts" don't agree right now, I find buying good stocks during market crashes and holding long term to be very profitable over the years, even during the past few years.

I'd also look into diversifying into real estate and businesses too.

[Belguy]

Find a fee only financial advisor who can help you set up a diversified portfolio of ten to fifteen dividend paying stocks from solid companies who have a history of increasing those dividends over time and who you are confident will stay in business over the long term.

[doctrine]

Have you read "The Intelligent Investor" by Benjamin Graham? Although published a half a century ago, every principle that he follows is still relevant. I am using his principles to run a portfolio similar to what you are interested in.

[conguer]

Thanks for reading and the advice everyone. I think picking a good portfolio and holding long term is probably more my style right now since I have so much to learn. I will definitely read the "intelligent investor" (because that's what I want to be)

[londoncalling]

I suggest you read all the books posted as the "eight with weight" sticky on this board posted here:


Investing for Canadians for Dummies. Eric Tyson, Tony Martin.
Stock Investing for Canadians for Dummies. Andrew Dagys, Paul Mladjenovic.
The Lazy Investor. Derek Foster. Explains DRIPs and SPPs.
One Up On Wall Street. Peter Lynch. A classic.
The Little Book that Builds Wealth. Pat Dorsey.
The Single Best Investment. Lowell Miller. Explains role of dividends.
The NAKED Investor. John Lawrence Reynolds.
The Four Pillars of Investing. William Bernstein. book

I myself am not a fan of Derek Foster but I still recommend reading the book. My favorites from the list are Four pillars, Single best investment, Little book (there is an an entire series) and One up on wall street. I have read them all and have gained a lot from reading each. Again this is just a start. Read as much as you can but don't get taken away with everything they say as it can sway your judgement. (think of the bar scene in good will hunting where the student changes his opinion each term after reading a theory. It is all theoretical and use what you can and need to at the time). Welcome to the forum and good luck. Lots to learn but hopefully you find it enjoyable and rewarding.

[CanadianCapitalist]

Have you read "The Intelligent Investor" by Benjamin Graham?

In my opinion, The Intelligent Investor is hands down the best book in investing. I would pick up the very last edition of the book with notes by Jason Zweig. Some portions of the book are somewhat dated but pay particular attention to Chapter 8. I try and read it every few years just to remind myself that markets have always been volatile and it's up to us as investors to deal with it.

FWIW, Buffett calls Chapter 8 and Chapter 20 the two most important essays on investing.

http://www.youtube.com/watch?v=Z4glkcb7HHE