Investing?

[Edifice]

Has anybody invested with AIM Trimark before and what bonds or stocks they've invested in that gives good returns and are secure over a long term period of let's say 10 - 15yrs.

I am in my mid 20's and received a package from AIM Trimark which contained an overwhelming amount of different bonds and stocks I could invest in.

I figure now is a better time than any to start thinking about long term investing seeing as how I am still young.

I have heard about a book called 'The Wealthy Barber' and someone told me I should read that first before investing.

Can someone kindly give me some pointers or any other books, useful information they know of which could be really useful for me.

 

[Clear History]

I think that they probably sent you information on their mutual funds rather than individual stocks or bonds. The Wealthy Barber is good and in addition I highly recommend you read "The Naked Investor" by John Lawrence Reynolds (also a Canadian book). It shows you how the financial/investment industry works. You need to know this stuff before investing. Particular attention is paid to financial planners, how they are compensated and potential conflicts of interest. Also how investors are charged by mutual fund companies. An easy but important read.

 

[great bear]

If your in your early 20's think about buying Canadian bank stocks. They generally double every seven years, pay a good dividend, and with most of them you can have your broker put your bank stocks into a DRIP( automatically re-investing the dividends into purchasing more stocks. They are safe, and a excellent long term formula for accumlating wealth.

 

[alan9080]

I would recommend you take a CSI course. Here is the link

https://www.csi.ca/student/en_ca/courses/introductory/csc.xhtml

 

[21pro]

the CSI course is a waste of money...

the Wealthy Barber is a favourite for many reasons.

also, you'll have many people tell you what to do with your money(even people here on terb)... but, no one cares about your money more than yourself... take the matter into your own hands.

 

[drlove]

Can someone kindly give me some pointers or any other books, useful information they know of which could be really useful for me.

Read "The Automatic Millionaire" by David Bach. It will put everything in perspective for you. Get yourself a good financial advisor (someone you can trust) then start investing. The most important thing is making sure that you are well diversified. Contribute as much as you can to your RRSP with the goal of maxing out every year. Make sure you re-invest your tax refund. You can also hold non-registered funds as well, and there is no yearly limit on how much you can put into them. Above all, remember that now is the always the best time to invest. No matter what anyone else says, do it NOW!

 

[catsingool]

Given your age, take full advantage and read anything on or about Warren Buffett. Wealthy barber is a good start, but its more about planning and not at all about investing.

Recommend
The Warrent Buffett Way
Wall Street on Sale
The Intelligent Investor (somewhat technical but very good)

That will get you started, other names will come from those books.

As for bank stocks, I agree they are a good long term investment, but buying them now at this point in the credit cycle may make them a little expensive. If the credit environment continues to weaken, you may be able to pick up the banks relatively cheaply a year or so from now.

Again, this advice is worth exactly what you are paying for it.

But the books recommended are a good start (at least I think so).

CSI course is good if you know nothing about investing and are looking to learn, but, having taken it, its not as good as everyone says it is.

 

[Edifice]

Thanks for all the info gentlemen.

Keep 'em coming.

 

[Gyaos]

Can someone kindly give me some pointers or any other books, useful information they know of which could be really useful for me.

I'll tell you first that anyone who buys Jim Cramer's book is an idiot. It's worth a 5 minute skim at Barnes and Noble, that's it. Yeah, he made a lot of money, but even he'll tell you that 50% of it was luck and the money he makes now is on people's desire to pay for the hope he'll spew out a secret or two.

I recommend this book:
"Investment Analysis and Portfolio Management" by Cohen, Zinbarg and Zeikel. ISBN: 0-256-02501-0. Then relate that book's history with the market today and decide to go forward with a modern book on that same structure or diverge into a book on modern Real Estate Finance and Investment.

Good Luck, "Eager young mind".

Gyaos Baltar.

 

[Clear History]

I'll tell you first that anyone who buys Jim Cramer's book is an idiot. It's worth a 5 minute skim at Barnes and Noble, that's it. Yeah, he made a lot of money, but even he'll tell you that 50% of it was luck and the money he makes now is on people's desire to pay for the hope he'll spew out a secret or two.

Not sure I follow. The Wealthy Barber was written by David Chilton. Completely different approach than Cramer.

 

[Gyaos]

I clicked the wrong line in my responce. It is mutually exclusive from the book you mention. I fixed it.

Gyaos Baltar.