although this doesnt really fit in any of the boards here, i cant see a better place to put this topic so... the topic title isnt how i wanted to word it exactly, but i thought i would get more feedback - anyways, im completely new to the world of investing/money in general, and for the last few months ive just started to look up bits of information, visit investment firms, take some business classes in school for fun, and have begun to read the business section of the paper every couple days, and to say the least it is all very... extremely overwhelming. ive attempted to get started in stocks by first trying out stock simulations. im not doing so well in that right now. ive tried to get started on forex simulations, but felt overwhelmed from the beginning at how i was supposed to go about not going negative. ive looked around forums for information on the idea of building websites to gain profit from affiliates and ads. ive also tried to dip into website trading, and am currently trying to figure out how to buy domestic products and sell them overseas for more profit (alright, the last bits are not really investing, but still). overall, im just trying to say i feel like my head is going to explode from all the information out there, and i just thought maybe in the future instead of trying to dive into all of this myeslf, if i could just have someone else take of my money for me - by way of investment firms, forex funds, hiring someone else to build these sites for me, etc. im guessing this is what most people end up doing...? i was wondering how you guys mainly go about investing - do you just put all the money away for others to take care of like i have described, and not concern yourself too much about it? and whether you think it would actually be more profitable to do all of this yourselves, as it would cut costs from performance allocations, commissions, etc
investing in stocks and shares is gambling pure and simple. theres a book called "Where Are the Customers' Yachts?" quote - The title refers to an ancient story about a visitor to New York who admired the yachts that the bankers and brokers had in the harbor. Naively, he then asked where the customers' yachts were. Naturally, there were no customers' yachts. I recommend you read "rich dad, poor dad" to blow your mind and then set about using the advice therein! good luck!
I've actually given up on trading stocks and shares myself since you have to monitor each company you are investing in, the economy and market trends. Of course if you are in for the long term and looking at earning dividends then blue chips companies would be the in thing. If you however have a lot of money to invest, you could approach your bank and get a personal banker who may be able to manage your funds for you which includes investments. Alternatively, you can buy a variety of Unit Trusts which are professionally managed and quite affordable. You can buy and sell any time you want. Different unit trusts have different risk factors as they invest in different segments of the market or countries. Some are even capital protected investments so you do not quite lose anything if you invest in them but the lower the risk, the lower the returns.
Go with a personal banker. Don't rush it, the market will be there when you're ready. I get calls from brokers all the time begging me for money and to trust them on the next trade. I always remember that they get paid whether or not they generate returns or not. I never enter into a business partnership unless we BOTH have skin in the game. -- Just my own philosophy Also, I'm all about Rich Dad Poor Dad & Millionaire Next Door
If you want to learn forex, there are some good resources online (see for instance my site :-P :-P). But it takes time and a lot of practice.