Advice on starting investing

Dapos

Hey all.
I began saving the last few months (AIB regular savers account) and i've been having a look at investing. To be quite honest i'm a pure and utter novice. I'm just wondering is there any good websites for information, or can any of ye give me a few tips. Was looking at the Rabodirect site and i saw someone on this board mentioning quinne as well. Which would be the best to start off. I'm not loaded with money so it would be something like 50-100 euro a month i'm thinking. Any advice would be appreciated.

Angus MacGyver

Goodbody have a lot of advise for learners, to open an online account you have to have a minimum of a grand, its €32 per transaction compaired to aibs €100 fee,

jonnybax

I bought a book called the Naked Trader; it's about investing in shares and offers good advice for someone just starting and those who have already begun.

The guy's website is @ www.thenakedtrader.co.uk. He has a blog there that might be of interest too.

jonnybax

A Random Walk

Dapos wrote:

I'm not loaded with money so it would be something like 50-100 euro a month i'm thinking. Any advice would be appreciated.

For amounts like that you shouldn't be looking at direct share investment, but rather investing in funds. Personally I think the key thing there is to invest in funds which charge the lowest fees - that's why Quinn are recommended (I concur).

If you're investing in funds you're actually investing in shares, so they will be volatile. Only invest money in these that you can afford to leave for several years, and try not to get too concerned if prices go down in the short term.

There are some good "Personal Finance" type books around (you can get them in most bookshops). A quick peruse might be helpful to give you an idea of the basics.

BendiBus

A Random Walk wrote:

There are some good "Personal Finance" type books around (you can get them in most bookshops). A quick peruse might be helpful to give you an idea of the basics.

I found John Lowe's "The Money Doctor" a good place to start. Eddie Hobbs' "Loot" goes into a little more depth. And as both are written for Irish residents, imortant issues like tax etc are referred to in a way that applies to you.

Also important, they'll help you decide if you're in a good financial state to start investing, or if there are other more pressing financial matters to be dealt with first (such as debt, insurance, pension etc.)

dunkamania

Malkiel-Random Walk down Wall Street

failsafe

If you were thinking of getting into it semi-seriously I would recomment this...

http://www.bullsense.com/

It was recommended to me from a friend in work, and I'd have to say it was absolutely brilliant. I have a degree in commerce and know the theory of this stuff inside-out but I wouldn't have had the foggiest about how to buy a share in practical terms!
The guy who runs the course is a really decent chap, and the content starts out at a basic level and teaches you exactly what you need to know for trading on a very smart but practical level.

It's a bit pricey if you're only investing the odd euro here and there, but it was definitely worth it for me (I'm 22 and i plan to build up a nice portfolio over the coming years!)

A Random Walk

failsafe wrote:

It's a bit pricey if you're only investing the odd euro here and there, but it was definitely worth it for me (I'm 22 and i plan to build up a nice portfolio over the coming years!)

€400! I'd suggest you instead buy Malkiel's book as recommended above and with the €385 you'll save put it into an index fund.

BendiBus

Folks, let's remember the OP is looking to invest €50-100 per month.

I'll stand by my recommendations of Lowe & Hobbs.

slemons

A Random Walk wrote:

€400! I'd suggest you instead buy Malkiel's book as recommended above and with the €385 you'll save put it into an index fund.

do you sell this book or something? you seem to really believe in it seeing as you also have you alias here after the title?
why is it so good?
have you made money from it?

Time Magazine

slemons wrote:

do you sell this book or something? you seem to really believe in it seeing as you also have you alias here after the title?
why is it so good?
have you made money from it?

It's one of the seminal pieces on the topic. None of yer Eddie Hobbs stuff.

Reyman

slemons wrote:

do you sell this book or something? you seem to really believe in it seeing as you also have you alias here after the title?
why is it so good?
have you made money from it?

RW is a pretty sharp poster from what i've seen - I'd not knock him. As I recall he took on one of those smarmy sales type reps from Rabo (or Quinn) praising their products recently here and made a very good job of demolishing him and his hefty fund expenses

Time Magazine

Reyman wrote:

RW is a pretty sharp poster from what i've seen - I'd not knock him.

QFT.

As I recall he took on one of those smarmy sales type reps from Rabo (or Quinn) praising their products recently here and made a very good job of demolishing him and his hefty fund expenses

I've been keeping a careful eye on everyone who recommends a product or disses another, checking IPs and the like for matches (and that includes all you guys ) to try keep the information that's transferred as pure as possible. I've not come up with anything so far, but if you genuinely suspect someone is a sales rep (as distinct from a satisfied customer) please don't hesitate to click the Report a Post function () and give us a word up. If you're wrong no action will be taken.

slemons

whoa hold up! i was only joking when i said random walk was selling the book. I wasnt knocking him at all...
You cant knock anyone until you know something about the game like and im still clueless here.
I do see that the random walk book is the exact opposite of what i want to be - a technical analyst. Major bummer...
I still think technical analysis is the way forward though

PDelux

I still think technical analysis is the way forward though

What type of indicators and methods do you use?

RaboDirect

'

Ibid wrote:

QFT.

I've been keeping a careful eye on everyone who recommends a product or disses another, checking IPs and the like for matches (and that includes all you guys ) to try keep the information that's transferred as pure as possible. I've not come up with anything so far, but if you genuinely suspect someone is a sales rep (as distinct from a satisfied customer) please don't hesitate to click the Report a Post function () and give us a word up. If you're wrong no action will be taken.

Please note that RaboDirect only posts on Boards (or AskAboutMoney.com) using the user name 'RaboDirect'. We respect the integrity of discussion forums and try very hard to ensure that our posts are factual, not a blatant sales pitch, and are normally about clarifying questions about our products.'

Time Magazine

'

RaboDirect wrote:

Please note that RaboDirect only posts on Boards (or AskAboutMoney.com) using the user name 'RaboDirect'. We respect the integrity of discussion forums and try very hard to ensure that our posts are factual, not a blatant sales pitch, and are normally about clarifying questions about our products.

I can't believe I missed your two previous posts on this forum, but I have already reported your membership to site administrators.

Boards.ie does not allow advertising such as what you are engaging in on this forum and other forums. In fact it actively charges some firms for the benefit of having such commercial interaction. View the Biz > Commercial Interaction category for proof. I strongly suggest you send a private message or email to the administrators of this site, whose details can be found here.'

RaboDirect

'

Ibid wrote:

I can't believe I missed your two previous posts on this forum, but I have already reported your membership to site administrators.

Boards.ie does not allow advertising such as what you are engaging in on this forum and other forums. In fact it actively charges some firms for the benefit of having such commercial interaction. View the Biz > Commercial Interaction category for proof. I strongly suggest you send a private message or email to the administrators of this site, whose details can be found here.

RaboDirect does NOT advertise its products on Boards. When we post it is usually to do with queries from Boards members about our service. For example, how to transfer money, what documents are required to open accounts etc etc. We don't start threads or promote our products. By being open and honest about our membership we are acting ethically as opposed to others who post under pseudo names and blatantly plug products. We have been commended many times on AskAboutMoney.com for posting in an open and transparent manner.'

Vexorg

Thanks for bringing the thread to our attention Ibid.

Boards.ie has always been and will always be a neutral ground for both consumers and companies to address issues and answer questions posed. We do not allow any company to use the public with the sole intention of self promotion or trying to sell their products and or services and It would be unfair to allow problems to be aired here and not allow the opportunity to respond or to fix an issue raised and let everyone know that issue was resolved.

There is a fine line when it comes to assisting users with answers and promoting ones business, I think the "sell out your friends post" may have come close to it, however having read all Rabodirects posts my gut feeling is that it was not intentional and in general the posts are clearly trying to be helpful and are non commercial in nature.

As long as there is no product pushing or competitor bashing and everything is done openly on the forum for all to see and make up our own minds, I am happy to let it continue, if a line is crossed I think its is the users who will be the first to let us know about it.

If a company wants to come to boards.ie to interact and sell we are very happy to provide them with an interaction forum where there have a lot more flexibility to sell and promote in their own space and where boardsies have the choice to interact with the company or not to interact.

Hope that helps.

Regards


Vexorg

Sonnenblumen

Vexorg wrote:

Thanks for bringing the thread to our attention Ibid.

Boards.ie has always been and will always be a neutral ground for both consumers and companies to address issues and answer questions posed. We do not allow any company to use the public with the sole intention of self promotion or trying to sell their products and or services and It would be unfair to allow problems to be aired here and not allow the opportunity to respond or to fix an issue raised and let everyone know that issue was resolved.

There is a fine line when it comes to assisting users with answers and promoting ones business, I think the "sell out your friends post" may have come close to it, however having read all Rabodirects posts my gut feeling is that it was not intentional and in general the posts are clearly trying to be helpful and are non commercial in nature.

As long as there is no product pushing or competitor bashing and everything is done openly on the forum for all to see and make up our own minds, I am happy to let it continue, if a line is crossed I think its is the users who will be the first to let us know about it.

If a company wants to come to boards.ie to interact and sell we are very happy to provide them with an interaction forum where there have a lot more flexibility to sell and promote in their own space and where boardsies have the choice to interact with the company or not to interact.

Hope that helps.

Regards


Vexorg

With respect I think you are fudging the issue and I've no idea why. The fact of the matter is that it is rather obvious that most companies do not post in own name. Where it does happen it is in effect advertising, no matter what spin might be considered. Afterall the function of any company is to sell, and if not selling trying to sell. I don't think they need to press the red button for sales advice and the green button for advice. Thats nonsense IMO.

Competitot bashing is not an issue, I mean you cannot even bash a poster so why worry about potential competitor bashing. Fundamentally it is a slippery slope to allow advertorial advice on open forums. If someone wants to read commercial material fine, but I think it should be highlighted that the content is advertorial so as to avoid any confusion with self experience or self opinions.

To fluff the line between advertorial and private posts is simply avoiding the issue and runs the risk of misrepresenting the true facts. I mean if competitor B has a better product than competitor A you hardly expect A to promote awareness. No of course not and that is the crunch IMO. AS the expression goes 'economic with the truth'.

Finally, it is odd that the admins normally come down in favour of the cos.

hullaballoo

Sonnenblumen wrote:

With respect I think you are fudging the issue and I've no idea why. The fact of the matter is that it is rather obvious that most companies do not post in own name. Where it does happen it is in effect advertising, no matter what spin might be considered. Afterall the function of any company is to sell, and if not selling trying to sell. I don't think they need to press the red button for sales advice and the green button for advice. Thats nonsense IMO.

No. A company offering an after-sales service to its existing customers , or providing information on request about products cannot be considered to be advertising.

Do you walk into a car shop, ask the salesman about a Mercedes Benz, and then let rip at him for advertising when he tries to tell you about it?

If someone wants to read commercial material fine, but I think it should be highlighted that the content is advertorial so as to avoid any confusion with self experience or self opinions.

It's not advertising. It's helping. It's also highlighted when they tell you that they work for/represent the company in question.

To fluff the line between advertorial and private posts is simply avoiding the issue and runs the risk of misrepresenting the true facts. I mean if competitor B has a better product than competitor A you hardly expect A to promote awareness. No of course not and that is the crunch IMO. AS the expression goes 'economic with the truth'.

So where, in your view, does the expression 'caveat emptor' belong?

Finally, it is odd that the admins normally come down in favour of the cos.

Is that a joke?

A Random Walk

I think Rabo have approached posting here in a professional and a helpful way by answering queries on their products posed on this forum and by clearly indicating via their username that it is a Rabo official who is posting. I would hope this sort of thing could be encouraged.