Expert: Dr. Joseph de Beauchamp - 9/9/2006

Question
Hi,
I have some mutual funds for retirement that seem to be doing very well.  But now I would like to get into some online trading of stocks for extra cash to put in the bank.  I am truly a novice at this and will only invest a small amount to start so as not to loose everything right out of the gate.  I have been hearing a lot about investment software.  I would really be interested in software that would give me a list of the current "hot" pics, allow me to invest in those stocks, and would automatically buy and sell per my specifications.  Does such a package exist that isn't an arm and a leg?  Also, i'm told a good place to start is with Penny Stocks.  Would you recommend doing that to start with?
Basically, with $200 in hand to invest, what would you recommend I do to get this ball rolling and take an active part in my finances?

Thanks,

Brett


Answer
Stick with the mutual funds. They work much better. You might want to look up Moringstar at the local public library. This is free information. I never recommend trading stocks. I only recommend stocks for people that can afford to hold 10 different companies or more.


Dr. Joseph deBeauchamp