12. Recommended Reading and Websites
Libraries have a ton of information but with constant change in the world of stocks, it can be outdated. I remember seeing “The best stock picks of 2004” at our local library this weekend- not so useful in 2014! So I suggest turning to the Internet for endless amounts of current investing information. Here are some good sites to start with:
Motley Fool (www.fool.com) Not only do they have a ton of great information, they are all about having fun investing. Entertaining and informative articles. They also have subscriptions to their stock analyst reports that are apparently very good.
Google Finance (http://www.google.ca/finance) One-stop site for all your stock-watching needs. Start a portfolio, then start adding either stocks you want to watch or stocks you own. It also displays all relevant articles to your list of stocks so you can see what’s happening to your companies.
Investopedia (www.investopedia.com) The ultimate investing website! This site features a stock simulator, where you’re given $100,000 of play money to buy and sell stocks, bonds, options etc. and then watch them go. It’s a great way to learn about buying and selling stocks without risking a penny. Also features investing definitions and hundreds of great articles on anything investing related.
Get Smarter About Money (www.getsmarteraboutmoney.ca) Great investing basics for Canadians.
Canada Banks Forum (http://www.canadabanks.net/) provides a ton of definitions, comparisons and forums to ask questions
- Stock Picking and Stock Ratings websites
So you want to start buying stocks, but which ones do you buy? There are only bajillions of companies out there: big ones, small ones, good ones, evil ones. Well here’s some good research websites to start with:
StockChase (http://www.stockchase.com/Opinion.php) They have a Top 100 picks list, a Top 10 which is always great, as well as a huge database of comments and recommendations for many companies.
Standard & Poor’s (www.standardandpoors.com) Offers report-card style ratings on stocks, bonds and mutual funds from ‘AAA’ to ‘D,’ plus other relevant articles. You just have to register for free on the website to gain access.
Morningstar (www.morningstar.ca) is a Mutual Fund, Stock and ETF research database with many free and for-a-cost investment tools.
Motley Fool (www.fool.com) I’m writing this one again because it’s such a useful site. They have a CAPS rating system that rates a ton of stocks, as well as commentary and relevant articles for each.
Despite what I said before, the local library is an extremely useful resource; it is guaranteed to have a whole section dedicated to the world of investing. If you’re overwhelmed or unsure where to get started I recommend:
Rich Dad Poor Dad - by: Robert Kiyosaki
This isn't so much a guide on how to invest, but more promotes financial intelligence and argues that the old way of life- work hard, go to university, get a job, retire- is not the only true road for success
The Wealthy Barber - by: David Chilton
A great beginners book that takes a 'dry' subject (investing and financial planning) and works it into an easy to read, amusing story about a young guy and his wise barber and their conversations about money.
76 Tips for Investing in an Uncertain Canadian Economy for Dummies – very similar info to this website, discusses key saving and investing techniques for Canadians.