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Dunn James. Getting Started in Shares For Dummies Australia
Introduction
Part I. Putting the Share in Sharemarket
Chapter 1. So, You Want to Invest in Shares
Investing Is All about Timing
Finding Out What a Share Is
Buying Shares to Get a Return
Making the Most of Share Investing
Guarding Against Risk
Chapter 2. Watching the Market Operate
Floating: The Primary Market
Planning the Prospectus
Trading: The Secondary Market
Using the Index
Stepping into the Futures Market
Part II. Investing Strategies for Success
Chapter 3. Developing an Investment Strategy
Getting Rich Slowly
Starting with Strategy
Buying and Holding
Chapter 4. Assessing Your Risk
Gambling or Investing?
Assessing Your Risk
Avoiding the Turkeys
Chapter 5. Eggs and Baskets
Spreading the Risk
Building a Portfolio
Knowing How Many Stocks to Buy
Diversifying through Managed Funds
Investing outside Australia
Part III. Buying, Buying, Sold
Chapter 6. Buying and Selling Shares
Finding the Market
Making a Trade
Working the Trading Day
Playing CHESS Isn’t a Game
Chapter 7. Knowing When to Buy and Sell Shares
Getting Ready for the Action
Going into Analysis
Investing or Trading
Relying on Your Broker
Looking and Listening
Taxing Considerations
Chapter 8. Buying What You Know
Acquiring Ordinary Shares
Finding Specialised Stocks
Deciding What to Buy
Chapter 9. Working with Brokers
What a Broker Does
Stockbroking for Everyone
Choosing the Best Broker for You
Interviewing for a Broker
Chapter 10. Taxing Matters
Benefiting from Dividend Imputation
Watching Your Capital Gains
Taxing Tactics
Part IV. The Part of Tens
Chapter 11. Ten Great Investors and Their Strategies
Warren Buffett and Charles Munger
John Neff
Benjamin Graham
Philip Fisher
Jim Slater
Charles Viertel
Peter Lynch
John Bogle
John Templeton
Chapter 12. Ten Things Not To Do, Ever
Don’t Think You Can Get Rich Quick
Don’t Underestimate Volatility
Don’t Be Panicked Out of Your Shares
Don’t Ignore Dividends (Especially Franked Ones)
Don’t Buy a Share You Know Nothing About
Don’t Expect Things to Stay the Same
Don’t Delay a Sale to Save Capital Gains Tax
Don’t Let Tax Drive Your Investment Decisions
Don’t Fret Over Lost Profit
Don’t Let Yourself Be Churned
About the Author
Dedication
Author’s Acknowledgements
Take Dummies with you everywhere you go!
Отрывок из книги
T hanks for choosing the third edition of this compact edition, Getting Started in Shares For Dummies. This smaller-sized edition is what’s called a portable edition, full of information but small enough to carry on the tram, train or bus or to take with you on holidays for easy reading. This edition brings you up to date with the many exciting developments in the Australian stock market. If you’re a first-time investor, this book has advice on where to start, the pitfalls to avoid and tips on how to have fun (and not take too many risks) while your money goes to work for you.
The global financial crisis (GFC) and the market slump that ensued – which has become one of the longest-lived the sharemarket has seen – has dented many investors’ faith in shares as an investment, but despite the scary headlines and the ever-present possibility of a market fall, profitable companies continue to generate capital growth for their shareholders over the long term. The great paradox of the sharemarket is that while it’s the most volatile of the asset classes, it’s also the one most capable of reliably building wealth over the long term for the individual investor; I show you how in this book.
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As you will discover, of the 2,200 or so stocks listed on the Australian Securities Exchange (ASX), most investment professionals confine their activity to about one-sixth of them. Even in the 500 stocks that comprise the All Ordinaries Index (one of the Australian sharemarket’s main indicators), the last 200 or so don’t hold much interest to Australian fund managers. This is where a self-reliant investor like you can find some undiscovered gems caught in that bind of being too small to attract the fund managers’ and brokers’ attention, and then remaining small because they can’t get this attention. Some of the sharemarket’s acorns really do become great oaks. As a self-reliant investor, with the knowledge and the time to thoroughly research potential stock purchases, you can really steal a march on the pros.
It gets harder and potentially more rewarding the deeper you delve into the sharemarket. In the bottom 1,900 or so stocks, you may find some real dogs that should not be listed (and probably won’t be for very much longer), but you can also discover wonderful companies that are just about to flourish. This kind of investing is called bottom-fishing. You need to be wary and know how to back up your discoveries with solid research. At these depths of the market, you can make some very wrong moves.
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