OT: Buying Stock

[Alex Maynard]

The following page has a description of some of the discount brokerages 
available in Canada and their fees

http://www.milliondollarjourney.com/review-canadian-discount-brokerages.htm

Globefund: http://www.globefund.com/ has some discussion of Canadian 
mutual funds.

http://morningstar.com/ has a lot of information on individual stocks,
mutual funds and exchange traded funds. Yahoo finance also has a lot
of information.

As pointed out below exchange traded funds and mutual funds reduce your 
risk relative to individual funds.

Alex



On Fri, 15 Feb 2008, Stephen wrote:

> Mr Chris Aitken wrote:
>> I want to buy some stocks. I've never bought stocks before. I have an RRSP 
>> and I eventually want to move that money into a self-directed RRSP (if 
>> that's what it's called when you create your own RRSP). I'm taking a 
>> Business Mathematics course at a local college (I know, I know, 90% of 
>> investing is guts, timing, luck etc. - it's the other 5% I'm taking the 
>> math for). For now, though, I thought I'd try buying some blue-chip stock. 
>> It's a small amount so I don't want to lose a lot in brokerage fees.
>> 
>> Does anyone know a good discount broker? Any gotchas? I've never used 
>> PayPal or any other online payment method. I've only ever bought anything 
>> "off the Internet" by calling a 1-800 number (from a website) then using my 
>> credit card over the phone.
>
> Do you have a bank account?
>
> Whoever you bank with is a good starting place since they have some record 
> that you exist.
>
> The market is down, and you are, I assume, young, so buying stocks makes 
> sense.
>
> How much is in your RRSP? Buying individual stocks when you have less that 
> $20,000 (bare minimum) is not wise.
>
> If less than 20,000 consider a stock market index mutual fund from your bank.
>
> Google is your friend.
>
> Stephen
>
>
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