My first Post (i am new)
 

Hello i am new here and this is my first post. i am trying to get into stocks with my poker winnings but i dont have much knowledge. if anyone can post anything that might help me please do so. i am specifically lookinf for some up to date books that i can read.or some programs that might help me understand stocks 101.

i dont want this to be a useless thread so this is my input. i started a thread in another site on this and i got alot of informaation there. but i didnt get much info on books and programs. here is the thread. i think it will be helpful to alot of people here.

http://forum.bodybuilding.com/showth...ghlight=stocks

Re: My first Post (i am new)
 

There have been several recent posts on books, you can start here:

suggested reading list

Re: My first Post (i am new)
 

Let me save you a lot of effort and likely poor results. I am assuking you are relatively young. Take all the money you plan on investing for the long term and buy:

40% IVV
20% EFA
20% IWM
10% TIP
10% AGG

You average individual investor does about 60% as well as market indexes (sadly this includes people with financial advisors). Each one of those poeple think they can do better. They can't, it is overwhelmingly likley that you cannot either. Buy these indexes and forget about it. You will not regret it.

Re: My first Post (i am new)
 

[ QUOTE ]
40% IVV
20% EFA
20% IWM
10% TIP
10% AGG


[/ QUOTE ]

Mark to Market, YTD this port allocation would have returned roughly:
1.0% in Cap gains
0.7% in Dividends

1.7% total return YTD is nothing to get excited about!

Re: My first Post (i am new)
 

this is all gibrish to me.. please explain. and i am going to invest with my poker winnings. i will only invest about 1k after tons of research and when i learn how everything works. so more info the better.i will only start with this amount and will hopefully improve. is this a good amount to start with? what is a good amount? and keeps the books comming. a book that shows me the BASICS of how to get started with stock market. i will get the advanced ones next. keep the info comming folks. and i willl beat the stock market!!! i am 20 btw.

Re: My first Post (i am new)
 

I am in a similar boat as you. I'm 18, made about 4k in poker winnings currently 6 table 2/4. I was looking to invest in stocks as well. But from what I've heard you really need some decent capital. From my understanding you need a pretty diversified portfolio to do well in the stock market and with little capital thats pretty hard. Also commisions suck when you aren't buying much at a time. I have some books on order, will be here soon and going to read about all different types of investments, money markets, mutual funds etc. From what I've heard the mutual funds might be the best option if you dont have much capital. This is all just from what I've heard so dont put this in stone. With not much money I'm just looking for something that would give me a higer return rate than some savings accounts which will give up to 3.5% intrest, while still being able to get some "experience" in the market. Since I'm a kid I dont have any bills to pay so when I move up in poker and get more money, then I can proboly affort diversify and get a little more agressive. So I would say dont put it in stone that you want to invest in stocks, read some books and maybe invest in other things.

Re: My first Post (i am new)
 

If I were 18, I'd think there were three legit investments with $4000.

1. Your college education. Face it, you aren't going to be a pro poker player. Poker can supplement your income, but don't depend on it. And even if going pro were a legit goal, get the education. Nothing has a higher return. (Not to mention the fish in college dorms and frat houses.)

2. If you have the skill, bankroll it into higher limits. Caution is warranted, but again, a pretty high return if you have the skill.

3. Declare the income and put it in an a deductable IRA. (I assume you can do this. Tax experts may wish to chime in.) Then simply buy a S&P 500 Index fund or Spiders with dividend reinvestment. Let sit for 50 years. Dull. Boring. The route to lifetime financial security. (Assuming a 10% return, that would make it worth about half a million.)

Re: My first Post (i am new)
 

1. I am leaving for college in like 2 weeks, University of Florida, go gators. I also have no intentions of being a poker pro, I used to ponder the idea that maybe one day. However it's not the kind of life I want.

2. Since poker is my only income, I tend to make sure I'm fully bankrolled and I move up after a certain amount of hands if I'm winning.

3. Possibly, but I dont think I will really start doing this till I graduate, I dont want to invest in an IRA now because from my understanding you can't touch it till your 60.

Re: My first Post (i am new)
 

to tell you the truth, all these advices are preety safe advicse . the ones about putting it away for an x number of years and getting a good return. but honestly i am into investing for the thrill of gambling and MAKING money. thats why i will make sure i learn to beat it. i have the patience and understanding to be a good invester as i am in making money through poker so hopefully i will do alright. and truthfully, i wont be starting stocks until i have a good bankroll. and i will start with about 5k in stocks i guess since 1k seems to low. but i wont start until i have every understanding of what my returns might look like when i invest on certain stocks and if the value goes up. i have NO understanding of how it works and thats what i am hear to learn. i am not looking for the safe road where my retirement plan will be secured. i am looking to make some big money and obviously i wont be making big money with starting with 5k.. but like poker i am hoping i can build it up. and also this is just my stepping stone to my big master plan lol.. poker is lvl 1. stocks lvl 2. realestate lvl 3. big money stocks or daytrader lvl 4. or maybe just more realestate. ofcourse i have my electrical engineering degree which i will get in 2 years or so to fall back on if my plan doesnt work but to be rich you gotta take risks. or thats the way i see it. i might be wrong.. but i am still learning. keep the info comming.

Re: My first Post (i am new)
 

In addition to the other stock market related books I suggested earlier, you might want to start on an even more basic level with some personal finance books...

The Automatic Millionaire by David Bach, is a good starting point.