Korean Job Discussion Forums

matthews_world · Joined: 15 Feb 2003

Can you guys give an investment newbie an tips on how to go about investing in stocks?

I know there's some good money in IPO's and I regularly keep track of the news and money channels.

Is it better in the long run to have a qualified professional manage a portfolio or to invest on whims?

Also, what are the websites that let you get started trading in international markets?

reactionary · Joined: 22 Oct 2006 Location: korreia

yeah, i'd be interested too, though i only have $10,000 to burn

the_beaver · Joined: 15 Jan 2003

Buy "One Up on Wall Street" by Peter Lynch for a good primer on value investing. You don't need a professional and you really don't want to invest on a whim.

RedRob · Joined: 07 Jul 2003 Location: Narnia

I used that book! In NZ there is a company called the Warehouse, a kiwiland Wal-Mart if you like.

I got 2000 shares at $2.00 at the IPO, sold 'em two years later for $6.75, not a killing, but at that time, it was enuff to buy a nice (used) BMW motorbike. (R100GS P/D for the petrolheads). There is a big difference between a 4 grand motorbike and a 12 grand motorbike!

Try Lynch's book. A few mill. will be enough for you to have a play, and you might do OK.

itaewonguy · Joined: 25 Mar 2003

should have bought shensua stocks and you would be laughing right now.
have to keep your eyes open, use your best judgement
if you want to get started best to take your wife, or girlfriend down to the bank and talk to the Financial planner...they will tell you all the best investments..
be safe, and start slowly.. dont rush into it..

matthews_world · Joined: 15 Feb 2003

Thanks for the tips but my major question is who in Korea should I contact for portfolio management or is there a trading website that you guys recommend?

itaewonguy · Joined: 25 Mar 2003

4 months left · Joined: 07 Feb 2003

Lynch's book is ok but I think nowadays with instant information, many of his ideas don't work as well.

Start slowly, put a little money in. Practice trading on Yahoo/Google finance, you can set up a portfolio tracker.

Read as much as you can. The majority of the top traders have lost money in the beginning. Think of it as a tuition. There is TONS of free info and training on the net.

Stock trading goes a lot against human nature and as I have read many times..."Very intelligent often do poorly in the market mainly due to the fact that they are not used to being wrong and won't admit when they made a bad trade." If you have a big ego, the stock market is not a place for you.

matthews_world · Joined: 15 Feb 2003

deadman · Joined: 27 May 2006 Location: Suwon

4 months left · Joined: 07 Feb 2003

I'd caution on Rich Dad Poor Dad, i read it years ago but I hear and read more and more criticism on Kiyosaki

Criticism
Rich Dad, Poor Dad has been criticized for having almost no concrete advice and too many anecdotal lessons. There are readers who have reported finishing the book feeling motivated and ready to begin "escaping the rat race," only to realize soon after that they have been given no idea how to proceed. It has also been said that discerning fact from fiction or anecdote is difficult in the book.

Some advice given in the book is thought to be poor or even dangerous by other investors. For example, Kiyosaki advocates focusing on a few "good investments" rather than diversifying. He also downplays the importance of traditional education. John T. Reed, an outspoken critic of Robert Kiyosaki, says "Rich Dad, Poor Dad contains much wrong advice, much bad advice, some dangerous advice, and virtually no good advice."[1] He also states: ""Rich Dad, Poor Dad is one of the dumbest financial advice books I have ever read. It contains many factual errors and numerous extremely unlikely accounts of events that supposedly occurred,"[2] Kiyosaki has provided a rebuttal to many of Reed's statements.

Some of the claims Kiyosaki makes in Rich Dad, Poor Dad about his accomplishments appear to be exaggerations, fabrications or misdirection. People have speculated on the identity of his "rich dad" and whether this individual even existed, reasoning that such a man, whom Kiyosaki describes as "one of the richest men in the Islands", and his family who carry on his tradition, would have been very well known in as small a state as Hawaii. In the February 2003 issue of SmartMoney magazine, Kiyosaki backed off his claim that his "rich dad" was a real person, instead stating �Is Harry Potter real? Why don�t you let Rich Dad be a myth, like Harry Potter?�

http://en.wikipedia.org/wiki/Rich_Dad,_Poor_Dad#Criticism

If I Were a Rich Dad
Why millions buy Rich Dad, Poor Dad's nonsense
http://www.slate.com/?id=2067175

huffdaddy · Joined: 25 Nov 2005

itaewonguy · Joined: 25 Mar 2003

matthews_world · Joined: 15 Feb 2003

Are there bank-specific stock trading platforms (software) that the different banks provide that your individual bank representative will help you keep track of or can one use their own internet-based?

Huffdaddy PMed me this site: http://www.elitetrader.com/vb/

It's very comprehensive. Thanks.

questionsaboutkorea · Joined: 08 Sep 2007

I invested in coke years ago. They have operations in several countries and have done well. When I invested, Warren Buffet was a major player.