Do not leap into investing without a basic knowledge/foundation of the fundamentals. You need to get
into the proper business and/or financial mind frame as well as understand a
few basics before you proceed to invest.
I recommend starting with Bloomberg TV on a Saturday Morning
to get a feel for business and/or finance as it is full of easy to digest
programming and motivation to be successful in general. Also, Bloomberg TV has the
stock ticker from the Friday close, which is composed of important areas in
which you should be aware of the price. If you do not know how to read the
stock ticker on Bloomberg TV and/or recognize those few basic symbols use this as a time to educate yourself. Use the internet to learn the
simple skill needed to read those quotes and use the internet to look up the
symbols. Why not tell you the meanings of the ticker in this blog post!!??!?…research
and doing homework is part of the game. If you are not willing to do this level of homework then stop reading my
blog and take your money to the financial advisor down the street for a fee and
be oblivious to the stock market. And even if you still decide to seek out a
financial advisor you should have your own opinions, your own understanding of
the stock market, and should be able to take over your money if the financial
advisor retired tomorrow.
Plus you need to understand the basic information on a
generic stock app for your phone or on a website as it is the best way to get
live quotes without logging into a trading platform as a retail investor. Please
be aware that numbers outside of the price quote can be different across websites
and different across apps because of rounding and calculations. Yahoo/apple stock app for
examples calculates P/E using trailing twelve month along with an intraday figure while the Bloomberg app only uses trailing twelve month. P/E is an
important ratio and in layman terms it indicates the amount of years to double your investment all things remaining the same.
Then you should watch Mad Money on CNBC to get a better
understanding of stocks and personal finance weekdays at 6pm (5days per week).
Once you watch Mad Money you will have a better understanding of the
conversations that take place during the day and how it pertains to your
possible investments. Any terms you do not understand please look up the info
on a credible website (my preference is www.investopedia.com).
Finally, follow financial news organization such as Forbes,
CNBC,Wall Street Journal, Bloomberg etc. on social media… therefore you can have
access to news, access to articles, and access to breaking news when you are not watching TV.
