MMM-042: Big Tent Revival!
I ENCOURAGE YOU TO Download this show thru iTunes!
but, if you just can’t possibly deal with that then go ahead and
Play show 42, right now
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Call me on the Mad Money Machine voicemail line at 206-734-4763.
Audio…
Stereo…
Video…
Radio…
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NETIO!!!
Steve from The SG Show
David G. Lopez Behind the Wedding Mic. David, I won the microphone! Can you believe it?
My take on Step 8 of the 12 Step Program for Active Investors: Rollercoaster Ride
The Hold ’em poker tournament.
Ron Moore talked about podcasting. Not much about Battlestar Galactica.
I met with Mark Hebner. Their new offices are adequate and humble. Nice touch.
I believe he sponsors this show to help educate investors, even though they may not yet have the minimun needed to invest with him.
I’m invoking the Fair Use Act to play some clips from Mad Money on 27 September and NY Giants kicker Jay Feely. Click that link to watch the whole thing. Cramer tries to kick a field goal. Feely talks Riskese. He says they’re even having trouble getting NFL players to contribute to their 401Ks.
Dave from Raleigh calls the voicemail line and suggests that I review blogs for the Tools in the Crib. His website is dovInvestmentTips.tripod.com.
So, the Tool this time helps collect lots of blogs.
Jay, 14-years old, wants to know a good place to get started with stocks. He’s got a little over a hundred bucks. Call in and give Jay some ideas. 206-734-4763.
Our Guru shows up in Step 8 and gives us the difference between systematic and non-systematic risk.
mojojojo103 won the book! Gimme your address and the book will be on its way to you.
A proposed bill by House members Mike Pence and Eric Cantor to index capital gains taxes for inflation. Go dudes!
Better yet: Eliminate Capital Gains Taxes!
Visit our sponsor: Index Funds Advisors
Download the show directly MMM-042.mp3
Music from the Podsafe Music Network:
ALTA PLAZA – X-Ray Dogs
You Won’t See Me Crying – Whitney Steele
There She Goes – Brother Love
Heaven – Jimmy Golding
Music from Garageband.com:
Rollercoaster Ride – Carol Camille
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I enjoyed your podcast.
One comment in defense of Cramer. Cramer makes it clear that what he is talking about on the show is strictly about a small percentage of discretionary (and speculative) money. This is gambing money that one could afford to lose. Definitely not the core money you have to count on in retirement. He does not promote any investment products like mutual funds or insurance. (Well, other than his books and website).
That is why he calls it “Mad Money”. If nothing else, it gets people who would otherwise be so bored, disinterested and afraid and they may choose not to participate in savings plans like 401Ks and IRAs. Or simply leave money in money markets or CDs. At least it encourages people to take an interest in controlling their financial future.
I don’t watch the the show often but it does have a certain entertainment value.
For the 14 year-old who’s looking for a broker, I use TradeKing. They’re a fairly young broker, but the founders are not new to running a discount broker. The fees are very low and there’s no bottom-line. Sharebuilder is also nice if you plan on holding. They lump purchases together on Tuesdays to save costs and let you buy partial stocks, but they cost a lot to sell and even small fees add up eventually. Both have IRAs.
Another great show! I used to think I could just watch Cramer’s show Mad Money and get rich buy doing exactly what he suggessted. After listening to your podcast for several months, I haven’t listend to Cramer for anything! Thanks Paul, for showing me the light. At least Cramer got me jumpstarted and interesting in investment tools.
If you have to actively invest I think Scottrade (for live trading) or Sharebuilder (for long term trading) is the way to go. I’ve got three individual securities between the two and plan on keeping them for the next 10-15 years. Sadly my IRAs are in actively managed Mutual Funds with T. Rowe Price (Thanks Suzie Orman). Hopefully they’ll beat inflation!
Hii, Paul,
Another good show! Glad you found the trip to California worthwhile. Sounds sort of like an old-fashioned “hamfest” of amateur radio operators, though in a far more kicked up venue! One other brokerage I’ll mention for people with minimum investing to start is FolioFN. Started by Steve Wallman, a former SEC commissioner they offer no minimum accounts with two basic options – similar to sharebuilder you can trade on a per-transaction basis, or if you’re a little more affluent a flat membership fee allows you so many free trades per month through two daily trading windows of around 3,000 window-tradable stocks and funds. Their “Bronze” membership level is $19.95/month or $199 annually and allows up to 200 window trades per month. You can have one “folio” that can contain up to 50 stocks or funds in it. You can either customize the holdings in this directly or choose from predefined folios based on market risk levels or other criteria. They offer a good mix of stocks, closed end and ETF’s, and subject to mutual fund minimums, a goodly selection of mutual funds too. I’ve been using this since May of 2001 and have been very pleased with their service. Another plus is the ability to invest either by dollar amount or in shares – they handle fractional shares no problem. As far as Jay goes – an important part to consider is how much he can add to an account and how often.If his contribution rate is going to be sporadic for now, then a per diem rather than membership basis may be more cost effective for now, he can always convert as he gets older and a more steady income. But kudos for him starting out so early – this is one thing they should be teaching in schools that they don’t – this would be of benefit to the whole country if people were investing in it from an early age! Not just US stocks, either, there’s a whole world out there! Enough for now!
Best,
AIMster