Editorial Reviews. About the Author. Jeremy J. Siegel is a professor of finance at the Wharton Download it once and read it on your Kindle device, PC, phones or tablets. Use features like bookmarks, note taking and highlighting while reading. Many of the same organizations who provided me with data for the first edition of Stocks for the. Long Run willingly updated their data for this second edition. Aug 13, Stocks for the Long Run: The Definitive Guide to Financial Market Returns & Long-Term Investment | EPUB + MOBI | /MB.
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Download Worldwide Equity and Bond Returns: Global Stocks for the Long Run Stocks for the Long Run 5/E: The Definitive Guide to Financial Market . Jun 3, Ten claims made in the book Stocks for the Long Run that do not hold up under informed scrutiny. Stocks for the Long Run 5/E: The Definitive Guide to Financial Market Returns & Long-Term Investment Strategies EPUB ebook. By Author: Jeremy J. Siegel.
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There is no need to pay commissions for Australians at least, I assume other countries are the same. Every little while, the Commonwealth bank gives you free trading for 1 trade.
Just know what you want and do it in a single trade. And keep in mind that the fee is doubled - once for buying the shares, once for selling them. On the other hand, many companies let you buy their own mutual funds commission-free.
Vanguard, for example. And I believe Schwab and Fidelity have some free-to-trade funds as well. Many brokers in the US will let you trade free for a while, like 50 trades or for a month.
And buying and holding one or two stocks is entirely different than day trading, which you did not define correctly to the OP. The potential gains from a fund are a joke. And don't write it off - care about it, follow it, and learn more. You have some good advice, but it's far too conservative for a teen investor who should be embracing at least a moderate amount of risk at his age.
I'm upvoting this - this is true, a law passed by the SEC to prevent people from losing their shirts due to overextended positions in trading. I learned this a while back when I first opened my account with Schwab.
I was day trading and the broker told me about this law when I called to ask what was up. It's a lot of money, but with that money you can diversify and effectively reduce your risk. Great advice man. Just want to point out, at such a young age, it's better to learn from your mistakes than to follow such stringent advice. When I was that age, I started messing around with penny stocks, and lost a lot.
Nor did I diversify.
The lessons I learned from that hit me harder and will stick with me forever. On the other hand, I have friends that aren't so financially savvy but they've always followed these rules for the most part , but they're tempted every once in a while and it never ends well. Point being, the money that you lose at that age is well worth the lessons you learn.
That being said, your advice is still really well put. Single stocks can be OK, but you certainly need to own more than one of them at a time.
Even a half dozen blue chip, industry diverse stocks are pretty secure. You won't see big gains, but you probably won't be kissing that money goodbye either. You are way to harsh on stocks by not mentioning they are excellent medium-long term investments years. To all teenagers: Our economy is cyclical. Bubbles will come and go like the tides and any idiot can see it by following the news.
This will probably present you a few dozen points over a working lifetime and as you get more wise with the ways of the world the opportunities will be obvious. I was on my first job read: I was emailed family and friends begging them to invest. One friend bought Citi. He tripled up in a matter of weeks. I he bought BAC he could have quintupled by holding on to it for a bit longer.
Furthermore, as one of the biggest banks int he world BAC was and is clearly undervalued.
It's assets were worth more than its value. You are totally right, and I don't mean to bash stocks as an investment - honestly, they are some of the very best things to hold for medium to long term. You are spot on. The issue in my eyes is that many people buy on hype, rather than on valuation. That is not smart investing. You are talking about value investing, which is a well-known and accepted strategy that's how Warren Buffett makes his decisions. And over the medium to long-term, it outshines any bank's interest rate.
My reply was intended more as a cautionary word against jumping in and thinking that day trading will lead to multiple thousands of dollars each day in profit. But thank you for emphasizing the use of stocks as an investment vehicle as well! I mean I didn't lose it all but I learned so much about the stock market and how it works and I'm still holding onto those stocks because they might go somewhere in the future, I'm not in need of that right now.
But as an investment strategy? Just tossing money at the stock market is not recommended long-term. Mutual funds, value investing, buy-and-hold, all of these are fairly basic strategies that I wouldn't have learned if I didn't educate myself on them.
I still buy single stocks every now and then, but I also consider those to be "hobby" purchases, more for me to track and watch than for the goal of making tons of money. I guess I'm incredibly lucky. All hail tesla. It's easy to make money when the market is bullish. Last year's overall returns were very good, this won't always be the case.
And remember: Come here to say that I will make you rich by Ramit Sethi is essential reading for a guy who wants to make the money work for you. It's a fantastic book. I was 21 and had just read a shit ton of books on investing as well as taken some very good classes on the subject. Sometimes its good to chase the dream a little and get the much needed reality check.
More than ever. But it's going to keep me from making stupid investing decisions in the future. Some years ago, my dad handed me his copy of the richest man in Babylon.
Looking back, I'm glad he did. I started an individual account for buying stocks back when I was a teenager. May i ask how old you are? If you started as teenager, you still might be a teenager. Nethertheless you only have 5 years of experience.
While all of this is great advice, I don't agree with the penny stock or day trading fear-mongering completely.
Why Stocks for the Long Run Is Wrong
It's a suckers game if you go in blindly based on somebody else's hyping pumps and dumps or just taking a wild pick, but there's a rhyme and reason in the charts if you take your time to learn them. In my time in the market, I've only ever had 1 red account whilst I had multiple green accounts. I would suggest instead that he set's up a virtual account and learn Technical Chart Analysis and read a few TA and Pennystocking books.
It really is just a skill you need to master. I learned none of this in high school. It wasn't until I went out and forced myself to read everything I could find on the topic that I learned most of this. I honestly wish that high schools would teach things like this - I think it would have a huge impact on our middle class a few years down the road.
The downside? The money won't be available for, like, 45 years. Start by putting your money into a traditional IRA. Do this every year for five years. On the fifth year you can withdraw your converted money regardless of how old you are and with minimum tax liability and no early withdraw penalties. As an experienced trader, I have to say that pretty much everything you've said makes a lot of sense and should be considered by anyone going into trading. I would like to add a couple things:. I do typically avoid penny stocks, but the exception were some pot stocks that have done very well and I expect will continue to do so i.
Penny stocks have much higher risk, however, so you must mitigate that risk by having a well-diversified portfolio have at least a couple stocks in every sector. I started to build my own portfolio with a plan, long term only, and I've been doing really well.
I wanted to add that you CAN buy individual stocks, you just have to research them, and diversify yourself. All of my stock selection have a few things to meet my long term investment strategy:. This is worth SO much more. Replying to save, but while I'm at it You won't be able to employ any strategies This is kind of an odd question, but what if you specifically wanted to trade stocks? What would make it "worth it"? I would like to think of it as a hobby where I can make money with some risk.
Because although I have a degree in economics, I have absolutely no clue about investing. I feel like I have the tools and time to invest, but don't really know anything about investing. Vanguard is most likely the best choice for a company with which to start an IRA. This is a great post. A couple things I wanted to add to the stuff that's already been said here:. Firstly, regarding penny stocks: You can find plenty of articles that go in depth on this, but the basic gist is this: Scammers put that company into a penny stock exchange.
Scammers write articles praising these stocks, and post them to an extensive network that they've built of penny stock news websites that they control. These websites are SEO optimized, so that when you do a google search for that penny stock, you find a wealth of seemingly separate websites all praising it. These scammers also contact writers on real stock websites, offering them money to write an article praising the stock, or even just giving them an article that the writer posts under their own name.
This gives the illusion that the stock is solid, when in reality it's just a shell company that even a brief glance over the company's financial paperwork Freely available on sites like Yahoo Finance would reveal its fraudulent nature. This happens all the time. In regards to where to put your money that's actually a safe investment: If you have a small amount of money to start with too low for a mutual fund, or an account with minimum investment, like Vanguard and you aren't regularly purchasing more shares, ETFs are your best goddamn friend for getting a diversified portfolio.
An ETF is basically a mutual fund whose shares are sold on the stock market. Although this means you have to deal with trade fees, it also means that there is no minimum investment, and the expense ratios are commonly significantly cheaper, Especially with Vanguard ETFs usually 0.
Use it to invest in a solid ETF with a low expense ratio. VTI is a portfolio of US stocks with a 0. Also, enable dividend reinvestment; the exponential nature of reinvestment is extremely profitable the longer that you hold your stock for.
Also, two book recommendations: Irrational Exuberance and The Intelligent Investor. They're both great books for learning principle that will keep yourself from being sucked into the traps of speculation and hype.
I learned more from this paragraph than from my entire Econ and Personal Finance class in high school. Haha, my high school Econ class was also terrible. The only thing I learned from that was that if I argued with the teacher, I got points back on exams. I am glad to have helped you out! If this is interesting to you, be sure to go out and pick up some of those books - they make a lot of the stock market murkiness much clearer.
I love it when people take the time to explain things in understandable terms! I appreciate your effort. Learn fundamentals. Develop discipline. Practice hypothetical portfolios and track them in Excel. This is great advice, and I'm sorry I didn't include some Lynch on my reading list. And yes, the way to learn is through hands-on practice. Another comment mentioned stock simulators, which are also useful - as long as it's understood that sometimes you get lucky on a fluke.
Uhm, they're not supposed to hurt after typing that amount. I hope this was just a way of saying "gosh that was a long post" because otherwise you might want to find out what's causing it. Nobody has a method for making tons of money from penny stocks, and if they do, they sure as shit aren't sharing it with you in a newsletter.
Listen to this wo man! This should be the default answer to anyone wanting to invest in the stock market for the first time. Great advice. Open an account at Vanguard and buy their index funds. Low expense ratio, great long term returns. Over a 10 year period you are almost certain to do very well compared to more conservative investments.
You don't need to diversify if you're young. Back during the. I did that stock market simulation game in my Economics class and I used penny stocks to gain a tenfold profit.
Granted, I used fake money, but if you played it right, you could have the possibility of making some serious money. I am a bot. Send them to my inbox! That's just a touchy-feely way of saying there's no algorithm to making money, much like success at a casino is "highly instinctual".
If there's no algorithm, no method, no technique which is demonstrably and consistently successful at least on average and which can be explained and taught, then it's all hocus pocus, all hot air. This is great! I forgot to mention that simulators are an excellent way to get your toes wet without actually putting money at risk.
Good point. Not even close. Stocks are a casino. Forex is the most liquid market in the world, decentralized and low volatility. Technical analysis is easier because the currencies behave as expected whereas a stock may shoot into oversold territory for a month.
I've seen 10 standard-dev events multiple times when I day-traded. You'll never see that with currencies. As far as I know this rule was put in place specifically to prevent people from losing their asses day trading like this.
That doesn't sound like a good idea. Getting into stocks does not automatically equate with making money. If you want to invest long term, just buy and hold something diversified like SPY.
Then on the side make a fake paper trading account somewhere and go nuts. To all the many people who clutter up threads with non-posts or posts like "Saving this for later" Reddit already provides a way to save it. Notice the top of the thread:. I agree with this. When I was his age I put some money into stocks that I thought I knew something about, and mostly lost money. But overall it was a valuable learning experience. I am talking about investing here, not trading.
They are very different. Warren Buffet is an investor, Jordan Belfort was a trader. Avoid buying all your stocks in the same market sector to diversify a little. Not mutual funds. When you read Lynch's book it will be clear why. These are stocks that have paid dividends for 25 consecutive years. Also look at stocks that will soon be aristocrats, over 15 years consecutive dividends. What you want to note is the dividend yield, it is a percentage.
Also look at company debt to make sure they are not borrowing to pay dividends. For two stocks that are very close to each other, compare Return on Assets and Return on Equity to find the one with better management and buy that one. Waiting a few months to a year will see the stock recover and start rising again. If this is a negative number then do not buy at that yield price.
This math is not perfect as it doesn't account for you holding the stock for multiple years but it still works!
One more test: For you this will be EE or I bonds purchased direct yay no load! EE bonds are at 0. Using sharebuilder you will not be able to control exactly when the buy will happen, unless you pay for a dealer assisted trade and this is too much for the small buys you will be making. Since the goal is to buy and hold, small changes in price are not critical. Timing the market is very difficult, don't try to do it. This means you earn a small slice of stock that will then earn you more future dividends.
This creates a compounding effect! Be sure to set this up in your account. Before you start investing you should have an emergency fund and be liquid. Being liquid means you earn enough money to cover all your expenses. You must not get in a situation where you have to sell your investments at a loss because you need cash.
Having an emergency fund is to prevent this losing situation. If you want an advanced topic look into "Elliot Wave theory".
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Become a Redditor and subscribe to one of thousands of communities. Want to add to the discussion? Post a comment! Create an account. First, here's what you don't do: Penny stocks.
This is the game of suckers, and is a great place to lose every single cent. Might as well play roulette. So, here's what you should do: They sound the same, they're miles apart. Read the links on the sidebar and in the wiki. Given as you're a teenager, you probably don't need to worry about things like paying rent, right?
Or car payments? Your parents are helping out? If so, you can probably gloss over the emergency fund. If you do have some sort of payments you make, you will first want to put aside a couple months' expenses. What if you get fired? The Work of Writing: Insights and Strategies for Academics and Professionals. The Change Champion's Fieldguide: The Change Champion's Fieldguide, endorsed as a book that will, "become one of the most quoted, referenced, and used business books in the first decade of the 's," by Vijay Govindarajan, Earl C.
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