Your Questions About How To Pick Stocks To Buy

Carol asks…

How do I report stock sales on taxes?

I just started picking stocks in 2009 and will need to report the sales on taxes. I never held any stock for more than a few months and overall I lost around $30,000 when I include my gains and losses. Do I just need to list the name of the stock and the amount I gained or lost or do I also need to show the dates I bought and sold stocks?

John answers:

On Sch D, and yes, you list each sale with the purchase date and price, if you had many this may involve several sheets, if you have a program that will produce the additional copies that is fine, otherwise a spread sheet format will do

Mark asks…

Quick stock buying lesson please?

With the market being so low it seems this might be near a good time to pick up a few stocks. I did a little research and have a few in mind, but how do i go about buying them?

how does etrade work? they charge a fee right? how does that work? is there another way i should go about it?

John answers:

E trade or any on line broker like scott or fidelity, etc. Basically work the same way. They all charge a commission (called a Load ) for making stock sales or purchases, unless you purchase a “No Load” Mutual Fund.

You open an account, then send them money to fund the account. Once your check clears the bank and is deposited in your account, (called core account) you go on line, and fill in the purchase form which says how much of which stock you wish to buy. This is called placing an order. Don’t forget to leave enough money in the core account to pay the commission for the purchase.

They will notify you as soon as your order is filled. ( The purchase is complete ). The stocks you bought will be shown on line in a chart called “Your Portfolio”.

You watch the stocks and when you want to sell the stock, you go back on line and fill out the sell form with how many shares of which stock you want to sell. When the stock is sold, the money will be deposited in your core account. You may then request a check be sent to you, or leave it in the core account and buy more stock.

Mutual Funds are Portfolio’s consisting of different stock purchased by the experts. They decide when to buy and sell the stock in the Mutual Fund. Buying a share of a mutual means you are part owner of all the stocks in the Portfolio. If the Mutual Fund makes a profit, the Mutual will pay dividends in the forms of more shares in the Mutual.

The advantage of Mutual Funds for a small investor is you have partial ownership in many stocks held by the fund so you aren’t as likely to loose all your money since some of the stocks will be winners, and the losers can be held by the fund for years until they become winners, (something you and I can’t do).

Whenever you want money from the Mutual, you sell your shares the same way you sell ordinary stock and request a check be sent from your core account.

George asks…

Companies who’s stocks are predicted to increase in the next 4 weeks?

Hey peeps. 🙂 I have a Business Studies project coming up and the idea is that I pick 5 or 6 companies listed in the London stock market to buy shares from. I have 2000 pounds. Then I have to decide how many stocks to buy from each of the 5/6 companies, so how much money to put into each. The aim is to increase your money as much as possible.

So could anyone suggest some companies that look like their share value will increase marginally in the next 4 weeks? 🙂

BTW – This is only part of the project, so it’s not technically cheating. I then have to do a 20+ page report on it. 🙁

Second btw, this isn’t a real thing in case anyone hasn’t picked that up. I don’t actually have 2000 pounds etc etc etc

John answers:

Buy these five: Barclay’s, HBOS, Royal Bank, Barratt Developments and Berkeley. The first 3 are banks and the last two are house builders.

Their share prices hav

Jenny asks…

How to buy items at Guitar Center?

Well, I’m looking on at a dj controller and the store near me has it in stock. I have never been to a GuitarCenter store before. Could I just go to the store pick up the controller and buy it and leave? Or do I need to have a membership card or something?

John answers:

It’s just a Wal*Mart with musical stuff basically, no membership required.

Charles asks…

how old do u have to be to stock at best buy?

how old do u have to be to be a stock boy, im 16 and also wats the best way to pick up an application?
how do i check their website to see if 16 year olds can work there

John answers:

I believe you have to be 18 because big companies like Best Buy don’t want to be liable for a minor.

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