OT: Buying Stock

[ted leslie]

On Fri, 15 Feb 2008 20:08:55 -0500
Stephen <stephen-d-bJEeYj9oJeDQT0dZR+AlfA at public.gmane.org> 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.

The market is down? you got a stock market crystal ball? you wanna sell it?
There are some that say its about to tank.

I'd say, if you havn't bought a home,
use your first time home buyers RRSP contrib. allowance,
by a property after the home market crashes in 4-8 months,
by a condo in BLue mountain or somewhere and rent it out,
or just by a condo somewhere and live in it (assuming you don't own already).
Get your ass into at least a primary residence first, worry about stock later.
Your appreciating home is tax free, and you can't get better loan rates then a mortgage.

(house market crashing prediction isn't fact, just a "hunch",
I am selling my home right now, and RA's are seeing it soften large now,
I am hoping to bail into a apartment for 1 year and hopefully watch a
major collapse from the sidelines, then come in later, but who knows.)

If you can move to Windsor ... wow, they are in a depression there,
you can buy stuff for half of what it was selling for 2 years ago,
you can buy a house and lot for less then it cost to build the house
2 years ago, its nuts, because Detroit has collapsed, and took Windsor with it.
But then you gotta want to live in Windsor :(

-tl
> 
> 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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-- 
ted leslie <tleslie-RBVUpeUoHUc at public.gmane.org>
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