OT: Buying Stock

[Jamon Camisso]

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.

Buying dividends makes more sense, as companies with good dividend 
histories don't care if the market is bullish or bearish. As one friend 
put it, "tampons, toothpaste, and safety pins." And if you look at 
companies that sell those products, their dividends are pretty 
consistent over time.

Getting lucky and timing things right is a myth, and I think a rather 
dangerous one at that. But then I'm just a student with no equity of my 
own. I can tell you that when I have money to invest it will be in 
dividends through.

Jamon

Jamon
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