Your Questions About How To Pick Stocks To Buy

David asks…

What is everything you need to know about a horse before buying one?

I’m planning on buying a horse what should I learn or buy before buying it?

John answers:

I’ll assume you have at least some experience with horses, if not, then find a riding facility near you, and take lessons on riding. However, riding is only about 10% of horsekeeping…you must learn the basics. Leading, tying, trailering, handling, lounging, handling feet, grooming etc are also very important. Once you start handling a horse, you will learn to read horses…and this takes time. Knowing what your horse is thinking will help you to avoid accidents. Example…you go to pick up your horses’ hind foot, and his tail starts swishing…
If you already have a horse picked out…and you have no experience with horses, make sure absolutely, that this horse is well broke and easy to handle on the ground. Then I would suggest boarding the horse at a stable where you can have a trainer come work with you and your horse, plus, you’ll have the benefit of the other owners that board there. Every horse owner is happy to talk horses…so ask.
I myself would not be able to afford a trainer, if this is the case with you as well, then WAIT to buy a horse. You’ll need someone with a lot of experience to help you find the right horse.
Also, you’ll need to find out how much a horse would cost for upkeep in your area…research the avg cost of hay, feed, farriers, vaccinations, de-worming, and regular vet checks where you live. Make up a budget before you buy…if you are at all unsure if you could afford the cost…consider leasing, or just taking lessons until you can afford to keep your own horse.
Your tack (saddles bridles halters leads brushes buckets stock tanks lounge lines trailer ties leg wraps blankets fly masks saddle bagsetc) will probably cost you more than the horse. So start buying. I’d suggest leaving out the halter and bridle and saddle until you have a horse, to ensure proper fit. You’ll also have to consider that if the horse will be on pasture instead of a stall then you’ll need a hay ring, stock tank, and eventually a round pen, all of which will run you about 200 for tank, 400 for hay ring and up to 4000 for round pen.
Do not buy a horse without an experienced person to help you choose.
If you have little experience, you will probably get scammed. You need to make sure your first horse is dead broke, been there done that, will do anything you ask without additude. A horse with a vice of any kind is asking for trouble, and you;ll only have more trouble learning. (it may even cause you to re-think wheather you even want horses)
Owning a horse is a big responsibility, but a lot of fun (even the work doesnt seem like work when your around them) there is so much that goes into it that you can only learn by experience. Think of it like driving…you can take drivers ed, but you learn to watch the other drivers by doing it. And actually driving is only part of owning a car, you have oil changes, tire pressure, so on…you get me…
Good luck, I hope you find just the right lifetime friend!

Sandy asks…

How do i know how many books and what books to buy when opening a library?

I know i need about 10,000 books, 400 pieces of audio, and 20 magazine subscriptions. First of all, i know i need all genres, but where do i pick what books to use, and where to get all of them? I don’t even know where to begin with the audio. With the magazines, i figure i pick 5 fashion magazines, 5 girls magazines, 5 sports magazines, and then i don’t know what else. Please help!

John answers:

Start by talking to established librarians who have the same type of library you’re opening. (You don’t mention if it’s a school, town or what…) If you ask nicely they can be very helpful.
Maybe also have a chat to some of the publishers. There’s usually contact info in books, often just underneath the copyright. The big ones often offer discounts if you’re buying in bulk, or at least can give you wholesale prices rather than retail.
Most of the big publishers (Eg: Harper Collins) produce the audio versions of the same books they do in print.
Secondhand bookstores are also a good way to source larger amounts of stock for less money. 2nd hand doesn’t have to mean tatty / battered and the books are (Hopefully) going to be read again, anyway. 🙂
You’ll want both fiction and non-fiction / reference type books. – But unless you’re a school / university, don’t buy text-books, or anything too technical or obscure, that won’t get borrowed. Textbooks change too often and the really specialized stuff is expensive and for the amount of people who’ll use it, it’s not worth the cost.
If you are a school / Uni, talk to the teachers / lecturers. Find out what they want for their students to use, both as texts and as extra or background reading. The same if you’re near a school.
You’ll need to cater to all ages, too. From toddlers to grown-ups, and you may want to keep a stock of large-print editions for older readers.
If you’re in an area with a large ethnic population, you may want books in that language, too. (Ie: Italian, Spanish, etc.)
Do a poll / survey / campaign among your potential membership. Find out what they want to read / would like you to have. Best way to ensure people will borrow your books is have what they want! 🙂
DO have a few English dictionaries for in-library use. The best you can afford. You’ll be surprised how popular they are.
Good Luck!

Ken asks…

What are the best stocks under 5 dollars for a first time investor?

I want to invest and need to start with stocks that will go up-but wont cost so much to start with. What should I invest in–gold mines-medical-???
What market would be best too look at ? Mine stock ,fuels or medical ?

John answers:

Most stocks, but not all, under 5 bucks are not what one would call investments. They fall under the heading speculations, especially the gold mines. There is one medical stock that even though it is a speculation it has some merit. It is not under 5 though but not too far away. MEDX. They have several drugs in phase 3. And S&P rates them a buy. They are involved in the options scandle. I once owned the stock but sold it. I have been thinking of buying it back. There is a company TINY that invests in companies that do nanotechnology. It is really speculative and I expect it to probably go under but it is selling about as low as it has sold in a year. It might go up again in the near future. It is about $10.

Here is one to look at INPC. It is a communications company trading at 6.41, close to 5. Running a deficit but projected to make money this year and more next. Analysts tend to be overly optimistic though. It popped out at the top of the list of a S&P screen of stocks under $10. Another LIOX. Also running a deficit but expected to post a profit. $5.37. It is sort of an internet company, but after reading its profile I am still not sure exactly what it does. Now. You might very well buy stock in either of these companies and make some money, but there is a whole lot of risk. Either could double in value or could go broke.

If you sign of for an account with Fidelity you can run these screens yourself and pick your poison.

Linda asks…

What kind of drum set and where do i buy it?

I want to buy my nephew a drum set.
the problem is i don’t know what kind i should get or where would be a good place to purchase it?
Also, when should i get it for him? hes too young to play, hes only 2.
what age would be appropriate? help please.

John answers:

There isn’t really a “best time” to pick up drums. Although 2 is indeed pretty young, you can always start to check is interest by buying a small percussion instrument such as a djembe or a bongo. Remo and LP both got whole line of products especially targeted for children bellow 3 years old that are made super tough and are reasonably priced. Here:

http://www.remo.com/portal/products/5/505/remokids.html

http://www.lprhythmix.com/

Now as far as drums go, as soon as he’s stable enough to sit on a drum stool you can find some small drums made specifically for younger age kids such as this one:

http://www.abcdrums.com/childs-drum-set.htm

Now these are not the top quality type of stuff but will do just fine until he gets old and tall enough to get on a “real” size drumkit. And price wise they are more then good.

Any local drumshop should have all these products either in stock or easily available on special order. If you don’t find anything locally check the companies web sites for online resellers.

Hope this helps!
Math.

Sandra asks…

What do walmart employees use as the purchase date for their stocks?

My mom works at walmart and she says that each paycheck they deduct a small amount and put towards a stock. This last tax year he sold his stock, but when he received the information in the mail there is a sell date but no purchase date. When she is filing his taxes what does she use as the purchase date?

John answers:

Dear JN: You should report the sale as (FIFO). First stock she bought is the first stock she sells. First in First out. If all the stocks she sold are over one year in the account they are all long term. If all are under one year they are all short term (gain). Some computer programs have a selection of various and then you pick the category-long or short.

This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided. Click on my profile to read more. Errol Quinn Enrolled Agent Master Tax Advisor

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