How can I learn about the Stock Market?

SomethingClever: How can I learn about the Stock Market?
I’m 25 years old, and hate to admit I no nothing at all about the stock market. As I get older, and more successful it’s something I definitely want to get into. I don’t want to be one of those people that just hand their money over to someone though. I actually want to know what their talking about when I’m watching the news. What resources can I use to learn the very basics, and work my way up?

I can’t speak for all black people, and never would. However, where I’m from you never even hear the words “stock market”. I think it’s something African-Americans should learn more about, and get into. It’s almost like a different world. Like it doesn’t even exist in the community I’m from. Once, again I’m only speaking for myself personally.

Answers and Views:

Answer by G
Fool.com is an excellent site that has a great section explaining the basics. I can relate. I’ve only recently started learning about investing and I’m older than you. =) Better late then never, right?

Answer by IAskUAnswer
There’s some great beginner’s books on Amazon that I was looking into myself. It’s probably best to start there, as I’m guessing it tells more about all the terms and stuff.

Answer by bud68
There’s a great book called “Investing For Dummies.” Seriously, it’s a good introductory book that covers all the basics and you don’t need a finance degree to understand it.

Answer by Lily D
I suggest you to read the book rule # 1 for investing by Phil Town. This is an excellent book for me to start.

Good luck and get rich!

Answer by mntndo
” actually want to know what their talking about when I’m watching the news.”

I’d recommend skipping watching the news or gathering any market information from the tv or magazines. They are horrible sources that will mislead you. Many headlines are complete nonsense. Learn the basics from Warren Buffett or Motely Fool.

Answer by RAWBERRY-SHOCKLATE
I would start reading books, “Investing for Dummies,” “Jim Cramer’s Real Money,” and books about Warren Buffet will give you a good basis of how the market works. They are all good books.

Open an online account (RothIRA or a regular account) with E-Trade or Charles Schwab and put in about $ 2500 in your account. If you don’t have that much to start with then try to get $ 500.

Buy one company first…make it a company that interest you. Starbucks (SBUX) is a good starter stock. As you continue to learn about the stock market by reading and watching CNBC or FOX, at least you can have one company you can refer to as you learn…see why it goes up and down, reading the news about the company can give you insight as well. As you get more comfortable with the market, you can get more shares or another company.

If you do it right, do it slow, you can make money. If you go too fast and become overconfident, you will lose money.

Good luck to you!

Answer by Shadab Ali A
The UMD system is for the professional and part-time trader who is looking to gain an edge in the market.