Investing isn't a straightforward endeavor. Every person needs to find a comfort level with it - and be willing to change in times like these. Become stylish at these sites.
On the contrary. Conservative, aggressive, contrarian - these are labels for some of the general categories of investors. It's good to find out early on which type of investor you tend to be. Contrarians, for example, "buy investments that are out of favor with other investors or with the market in general, and conversely avoid investments that are currently popular," we learn. The site is run by an educational foundation affiliated with the Securities Industry and Financial Markets Association.
http://go.philly.com/investstyle1
Education in style. Here's another road map to investing styles and strategies. "Investing is an intensely personal endeavor; no one strategy or style fits everyone," the page at About.com begins. A 10-part "Investing for beginners" section also is a good refresher course. This resource also has links to explainers on such practices as shorting stocks, and trading on margin - practices not for the faint of heart, and definitely not for anyone who can't afford to risk a big loss.
http://go.philly.com/investstyle2
Style is everything. This Wall Street Journal piece available through Yahoo's finance site breaks down investors into three basic categories: analytic, emotional, and "big-picture." The writer manages to find things good and bad about each type.
http://go.philly.com/investstyle3
Take the quiz. The above site suggests readers who want to learn their investing style try an online quiz that could help determine what strategies will suit them best. It names this one offered by JPMorgan Chase. The questions are meant to determine whether you are a hands-on money manager, or in need of hand-holding. We scored as "financially savvy," which is a suspect finding. Also, there was no surprise that the site goes on to offer Chase services.
http://chasefinancialstyle.com
Contact staff writer Reid Kanaley at 215-854-5114 or rkanaley@phillynews.com.
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Haven't filed your income tax forms yet? Time is running out. Forms are due by the end of April 15. Click here for what you'll need to know, where you can turn for advice or to ask questions of local CPAs Mark Zinman and Jim Newhard.
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