My son is showing an interest in investing in the stock market. He is 19 and does not particularly listen to me,but is bright and like most young people likes web based things.
I have set him up with a web based stocks and shares ISA and kick started him with some SOCO.
I have also suggested the stockopedia site as a resource which has a strategy,tool box and book section.
I have taught myself the hard way and through investing my own money(so consequently have a big carried forward capital loss to offset SOCO gains!) ,so tend to stick to sectors I know -like oil & gas.
I have suggested that he stick to a sector (Health care) he understands & enjoys so we at least have that sorted out and in conjunction with some oil and gas where I can advise/discuss.
I have explained the value of your own research (dont believe what you read all the time)
I have asked him to give me a short explanation of the fundamentals & prognosis on any stock he plans to buy.
I would be interested in how others have started up their offspring in investing and if is there any essential reading when "starting out". (I had an old FT Guide to the stock market I read when offshore India in the 1980's all pre internet when you went via a broker)
Filed Under: Healthcare,