Hey guys, because there isn't a sticky, I thought I'd ask you guys myself.
Could you recommend books/websites to someone who knows jack shit about economics? I want to learn, and maybe get involved in buying stocks. I think it'd be neat to make a little extra money.
generally, economics =/= stocks except for the most simple concepts. For example, in economics you'll learn a lot about monetary and fiscal policy, aggregate demand and supply, inflation, unemployment, etc. These concepts are tied to the economy as a whole and not so much to valuing individual firms and what firms are good/bad investments.
If you have money, throw it into an index fund and forget about it. Picking individual stocks is almost always worse than just being exposed to the entire market.
When I say index fund I mean one of the Vanguard ones or similar for whatever firm you choose to go with. That will set you up for the long term if you have some disposable income to save every month. (Index funds broadly exposed to the S&P fairly consistently beat stock-picking).
Basically, you put in money and the fund is broadly exposed to a certain market. There are index funds that are exposed to emerging markets, green energy, etc. But you want one that's exposed to bigger companies that are safer bets long term so you can save for retirement/down payment/whatever
Basically, it's just in a pool of funds that are "passively managed" by whoever runs the index fund. There are some restrictions on timing for when you can withdraw iirc.
More info: http://www.investopedia.com/university/indexes/index8.asp
You can do some more googling too.
C&P is a great book, love it when people know my name.
Not really, you should do some more research, there's a lot of information about index funds. Just read up, obviously you shouldn't take investing advice solely from some random guy on a chinese cartoon website. But this is a starting place (index funds were created for people who don't know what they're doing). You need to do your own research.
well, at a very superficial level, yes. But there's obviously a lot of things that connect to finance (economic policy, forex trading, futures, options, etc.). At least you'll have a background on this information but to really delve in will take some work.
It's probably not worth it--"trading stocks" is very difficult and you're way more likely to be successful spending a low amount of time on investing and just forget about it until you need it. (spend that time on your career or with friends/family/hobbies).
Investing isn't a good way to make "extra cash" each month. It's more for a long term plan (I want to have enough money to make a down payment on a house or for retirement, etc.)
I have no idea about good ways to make "extra cash" other than just making good career decisions.
Its almost like there should be a picture for this info
Are you from /fit/ by any chance? If so, its the Starting Strenth of business. Index funds should be your core if your a beginner. They are strong, reliable, and grow slowly but steady over time. Depending on how much you have and you age, you should put most of your money toward a diversified index fund, and you can bet some money on individual stocks. Also, I would invest in some REITs(Real estate trusts) but you will have to do your research. Also DO NOT daytrade or try to. And anyone who says to do so, ask them if they know anyone who actually got rich from it.
He is a beginner you nigger, would you tell him to spend 100% of his hard earned money into risky stocks when he doesn't know a thing about researching them? OP needs a strong core, thats not an edgy idea, its the truth.