Feb. 3, 2022

Let’s Talk Stocks

Let’s Talk Stocks

Investing in stocks and being invested in the stock market is a big part of making your money work for you and building wealth. So let’s talk stocks! In this episode, I answer just what exactly a stock is? And break down some of the most common industry jargon used when talking about stocks. Also covered are the criteria used to differentiate between stocks and some of the key metrics cited when looking at a stock quote. When it comes to investing a basic level of understanding is vital to feeling empowered and staying engaged because remember it is YOUR money and your money matters! 

About the Host:

I am a financial professional, who specializes in helping people to achieve their financial goals.  My absolute passion is creating new possibilities in people’s lives by showing them the ropes when it comes to money. I’m here to spark healthy and positive conversations around wealth and investment and create a world where nobody is limited by their financial situation. I believe this begins with education and shifting our relationships with money. I love getting to witness people achieving their most ambitious goals and creating new possibilities for themselves and their families! 

 

I love your questions! Reach out to me anytime at:  

Email: kalee.boisvert@raymondjames.ca

Instagram: https://www.instagram.com/kaleeboisvert/

Twitter: https://twitter.com/wealthandwelln2

https://www.facebook.com/kaleeboisvertwealthandwellness/

 

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Transcript
Kalee Boisvert:

Welcome to the wealth and wellness podcast with

Kalee Boisvert:

me Kaylie Bob air, I specialize in helping people to achieve

Kalee Boisvert:

their financial goals. I have a love for all things numbers, and

Kalee Boisvert:

I'm passionate about financial literacy. My goal is to spark

Kalee Boisvert:

healthy and positive conversations around wealth and

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investment, and create a world where nobody is limited by their

Kalee Boisvert:

financial situation. But wealth is just one piece of the

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equation of living our best lives. So join me as we explore

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both wealth and wellness topics. From your net worth to your self

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worth, get ready to take confident action.

Kalee Boisvert:

Hello, this is Kaylee. And thank you for listening in to this

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episode of the wealth and wellness podcast. On today's

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episode, I wanted to take the opportunity to talk stocks, I

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think there can be a lot of intimidation when it comes to

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investing and investing specifically in stocks and

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talking about the stock markets. And that is completely okay. I

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would say and I've said this before on this podcast, that

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it's not something that a lot of us are exposed to during our

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school years. And then even you know, after we graduate high

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school, even when we're talking about post secondary education,

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there might not be a lot of that. Specifically, unless

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you're taking like business courses or finance courses, you

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might not have been exposed to stocks and investing at all, if

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you hadn't really done anything to specialize in those kind of

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specific focuses. So as a result, you know, there's no

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doubt that this could be intimidating, because you might

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be learning this by yourself for the first time. And there's so

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many information sources. So even the information coming at

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you can be somewhat mixed, because it really would depend

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on the source and where you're getting your information from.

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So to start, it's important to have grace with yourself. And

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really also remember that you do not have to be a stock market

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wizard or expert to invest your money or to succeed in the

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market. So I really want to stress that that it's not about

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you becoming this expert on all things stocks before you're able

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to start investing, start where you are, you can learn more as

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you go. But don't let the idea that you have to be an expert

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stop you from taking any action because as I like to stress on

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this podcast is all about taking action when it comes to your

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money. Compounding growth is vital for building wealth. And

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one of the most important factors to compound growth is

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going to be time. So pushing it off, procrastinating is not

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going to serve you when it comes to investing. It's all about

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taking action and starting now. So let's talk stocks to get you

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a bit more comfortable with the topic of investing and growing

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your wealth through investing through stocks. As for

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investment, tools, or products, stocks represent a very

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important part of making your money work for you based on the

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historical return numbers that they have offered. So keep in

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mind that in this episode, I'm talking about stocks on an

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individual basis. But this information is still relevant

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when it comes to investment funds and products such as

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mutual funds, and ETFs exchange traded funds. Because an equity

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fund like so a mutual fund, that's an equity based fund or

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an ETF, something like the s&p 500. Those are simply made up of

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a variety of stocks. So the your s&p 500 is going to be made up

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of your 500 largest stocks in the US market, for instance. So

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those are just, you know, products or funds that are kind

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of a combination of individual stocks. So this conversation

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about individual stocks is still relevant to those types of

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investments. So to start, let's get some industry jargon out of

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the way because there's lots of that, of course when we're

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talking about stocks, so when we say the word stock or when I say

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the word stock, other words that can be used by the industry,

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that interchangeably would also be equities, shares, some people

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might call them common shares. So those are all sort of used

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interchangeably to talk about stocks. When we invest in

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stocks, we can do stuff so buy through the stock market, which

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is an auction market where buyers and sellers are going to

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meet to trade stocks. So generally when we're trading

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stocks, it's done through the stock market and it is an

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auction market. So prices really established by supply and

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demand, you have to have buyers you have to have sellers and

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their prices have to meet to essentially have trades take

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place market hours, so the stock market hours locally for my

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time, so own my timezone, because I'm in, I guess mountain

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time, I think I shouldn't. So my timezone here in Alberta is

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7:30am to 2pm. But it's based on eastern time hours. So New York

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hours, Toronto hours being 9:30am, the stock markets open

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at, and 4pm is when they close. So that's when markets are open

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and available for you to buy and sell stocks. And that's Monday

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to Friday, and some obviously some holidays, stat holidays

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would it would not be open. But there's a list of any specific

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holidays that it will not be open, that you can find online.

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And that will probably change, you know, a little bit year by

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year depending on what days those holidays fall on and

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whatnot. So here in Canada, the largest stock exchange we have

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is called the Toronto Stock Exchange. And then the largest

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the oldest and largest stock exchange in North America would

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be the New York Stock Exchange. Okay, a little bit more kind of

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industry jargon or things you're going to hear thrown around when

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it comes to stock markets and investing. You might hear things

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like bowl or bull market. If someone's bullish, or a bowl on

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the markets, it's someone who expects the overall markets or a

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specific stock position that it will rise. So bullish investors

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generally are going to be buying stocks because they see it as

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that they're going to be continuing to go up. When we've

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talked about a bear market. That means the expectation is that

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the markets in general or specific holding is going to

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decline. So it's when we think you know, markets are not doing

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well. And then bearish investors or when you're bearish on the

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market, you're likely in the position of selling in fear or

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anticipation of a price decline. So thinking that the markets are

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going to decline, it's a bearish market, you have a bearish

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outlook. And that's why you would maybe sell or be sitting

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on the sidelines in cash. So again, those are terminology

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that I was talking about when we talk about investing. As well,

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with investing, there's a variety of stock indices, which

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we can follow our track. And what these do or represent is

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they measure changes in an overall group of stocks. So

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they're represented the representative of the overall

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markets. So it helps the stock market indices are going to help

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you gauge directional moves and overall performance of the stock

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markets. So some examples of this, like stock market indexes

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that you can look at. For the Canadian markets, we have one

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such as the s&p TSX composite, which is made up of about 250 of

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the largest Canadian companies. There's the s&p TSX 60, which is

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going to be the largest, the 60 largest companies. There's the

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TSX Venture, which is about I believe, 500 companies, and

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they're ones that don't meet the criteria to be listed on the

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stock exchange, the Toronto Stock Exchange. So the venture

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is going to be made up of smaller type companies, for the

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US markets, index indexes. So when you're hearing that the

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markets are down this many points are up this many points.

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Generally, what it's going to be based on or what you're going to

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hear is the Dow so the Dow Jones Industrial Average, and that

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consists of 30 companies, US companies, there's the s&p 500,

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which is made up of the 500 US stocks by market capitalization,

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and then there's the NASDAQ 100, as well. So there's all these

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different indexes. And or should I be saying indices I'm probably

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need a lesson in grammar or language for this. But okay, so

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what I'm trying to get across is there's a lot of these, you

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know, different indexes that we can look at, to track and again,

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they're going to be represented representative of certain groups

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of stocks. So obviously, the s&p 500 is going to represent the

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largest US companies. So if your portfolio is very much targeted

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at that type of allocation or a portion is, then that would be a

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great comparison tool for you to see, in general, what your your

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account should have done for the day based on the performance and

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the directional move of the index. So again, there used to

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help gauge overall moves, it's how we sort of have a pulse on

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the markets as a whole. And it might not be a direct reflection

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though, of your investment portfolio. So keep that in mind

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because it really would really depend on your specific

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allocation. So you can think of these as indicators of the

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movement of the markets, and where your portfolio might have

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gone as far as performance wise for the day. But, um, so for

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instance, if the indices show that the markets are down for

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the day, you know, the markets, if you hear they're down 2%, or

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they're down 500 points, like all these different kinds of

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things you might be hearing in the news and whatnot, then what

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you can assume likely, if you're invested, and you have exposure

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to the markets, will your performance or your portfolio is

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likely down as well. So, again, it's helping you gauge overall

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performance. So then, you know, okay, if the markets are down

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10% year to date, I can expect that there's a good chance that

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my portfolio is down, again, might not be that 10% reflective

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of that specific index, but it's likely down if the markets as a

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whole are down if I'm invested in equities in stocks. So you

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can kind of assume that yours is going to move somewhat with

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these indexes. And that's why they exist to help us gauge

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movement overall. Again, though, it's going to depend on your

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specific exposure and how your allocated so it's not a direct

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relationship, or correlation to your investment portfolio, it is

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very dependent on how you're allocated. If you have some bond

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exposure, then of course, you'd want to look at, well, where

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have the bonds markets moved? Or what does that gauge look like?

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And you wouldn't be specifically looking at the equity indexes

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for something like that. So also, when you're looking at the

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movement of an index, it's better to compare the moves with

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the percent on a percentage basis, or Yeah, and looking at

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it as a percentage rather than the point movement. Because if

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you're comparing something like the US markets, and you say, Oh,

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the NASDAQ is up by 475 points, but the s&p was only up by 83

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points. percentage wise, though, the number was a lot closer, and

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I'm just going off of like a day that I was looking at this that

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it has so happened to be those rates, where the NASDAQ up for

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75 points was up just over 3%, s&p being up only 883 points was

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up about 2%. So So percentage wise, close, but point wise,

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quite different again, because of their their different amounts

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and, and values. So percentage wise is going to help you at

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least compare them a little bit better than saying, you know,

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500 points, and this one's down 200 points. And so because

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they're all at different levels, you're going to likely want to

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compare them on a percentage basis. That way, you get apples

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to apples kind of comparison. But again, they're measuring

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sort of different targets as well, though, so keep that in

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mind. So then let's just talk about we're talking stocks, what

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is a stock, let's talk about a stock in its most, I guess,

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simplest terms, kind of breaking it down to how it exists or how

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it comes to be. So if a company needs capital, the company can

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raise capital by issuing stock. So let's say a company's looking

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to grow their business or expand or, you know, expand

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internationally or whatnot. So they're looking to raise some

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money to do so they can raise capital by issuing stocks into

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the market through an investment dealer, and then investors can

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then buy the securities, thereby transferring their money to the

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company, and in return getting a piece of ownership of the

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company a share in the company. And that represents a claim on

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the company's real assets. So when you buy securities that are

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equities, you become a part owner in the business, it's why

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you're called a shareholder. If the business does well and earns

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a profit, the company may distribute money back to the

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holders of the stocks, through dividends, or they might choose

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to reinvest in the business or do a combination of both

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positive results for the company may translate into the stock

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price rising, which is the ideal scenario, when you buy a stock,

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you want it to go up in value, because you're an owner of it,

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you want to see it appreciate in value. And again, that could

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create an increase in value if the company does well. And that

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could lead to capital gains for you if you then sell the stock

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at a higher price. So again, in its ideal scenario, that's what

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you want to happen. So when you buy a stock, the goal would be

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for growth, or an appreciation of value. For instance, you buy

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a stock at $20 a share and you want it to increase in value.

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And you want that to go up so it's okay if you see it at $30 a

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share. Yeah, I made $10 A share if you at that moment sell the

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stock at that price. If you have not sold it obviously you've not

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locked in any amount and your market value so The stock is

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currently trading at is going to continue to fluctuate and

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change. So when it comes to investing in stocks, the

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potential for gain we say, is essentially infinity. I mean,

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that sounds like a lot. And we don't know any stocks trading at

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infinity yet. But really, there's no upper limit, the

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stock can go up to any value. And then so that's the gain

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side, what's potential, the potential for loss would be up

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to your entire investment, because the company essentially

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could go out of business, they can go bankrupt, and the stock

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could go to zero. That's the downside risk. So let's say you

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bought that share at $20, that stock, well, if it went to zero,

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you lost your full $20 investment. So that's the

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potential downside versus upside, it could go for any

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number of essentially, again, we don't know of any stocks, I'm

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not aware of any trading at infinity. But again, there's no

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upper limit, right, there's no hard limit, like we would see on

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the downside, which is it could go to zero, it's important to

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consider the potential for risk when investing in stocks.

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Because as far as investment products, something like a stock

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would have a higher risk than something with a lower return

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offering. So something like a GIC is a guaranteed investment

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certificate, that's essentially that would be a no risk type

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investment. But again, return expectations are going to be a

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lot lower, or you can look at something like a bond or a fixed

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income investment, which is going to have some potential for

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risk based on different events like interest rates, and the

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company being, you know, staying in business being able to pay

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back the bond holder at the end of the term. So there are some

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elements of risk there, but usually on as a whole bonds are

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considered a lower risk investment than a stock. So

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keeping all that in mind that an obviously each investor does

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have a different risk profile. So you do have to consider your

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risk tolerance when it comes to choosing stocks or investing in

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the stock market. Some considerations are things you

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should be asking yourself is, you know, what if your the value

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of your investment declines, can you handle you lose losing a

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large percentage of that investment or even the entire

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value of that investment? So could you handle losing

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10% 20% 30%. And if you go, Oh, no, like I need this money, next

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year, for a down payment on my house, I couldn't handle having

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it lose 20%, then of course, that's an indication that that

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money, you don't want to be investing in the stock market.

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So you don't want to be putting it at that risk. Versus if you

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have a longer timeframe, maybe you're young and you're saving

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up money for your retirement goal, then you you don't have as

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much concern over the short term time periods of okay, if my

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investment declines, I can wait it out, I can give it some time

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and wait for it to recover. So again, risk tolerance is an

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important consideration for investing in stocks, as well.

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stocks within themselves. So stocks is a whole you know,

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category. But within that there's all different types of

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risk profiles. And it's going to be based on other

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characteristics, such as size of the company, the sector that the

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company is involved in. And so the all these are going to

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impact and and the risk potential, because different

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types of markets or events could have a different reaction. So

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how they're broken down if we're talking about the size of the

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company. So if we're looking at a stock and saying how risky is

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it? Well, we can look at a company as its size and say is

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it a small cap stock we talked about or MI medium or mid cap?

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Or is it a large cap or a blue chip stock? Those are some of

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the words we're using. So market cap meaning market

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capitalization, which is essentially a quick measure of

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what the company is valued at by the market. So market cap is

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calculated as the number of shares outstanding times the

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stock price. So when you hear like Apple is worth this many

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trillions of dollars or whatnot, that's the market cap on the

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stock. Okay, so a small cap stock would be a smaller

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company. And generally it's going to be a higher risk than a

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larger, more established companies. small cap companies

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are classified as those between that have a market cap between

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about 250 million to 1 billion mid cap are going to be 1

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billion to about nine to 10 I believe billion and then large

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cap is your over $10 billion market cap by market

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capitalization companies. And that sort of blue chip is going

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to be in that category as well. So it's going to be blue chip.

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When you hear people say blue chip stocks invest in those

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those types of investments. They're going to be companies

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that have strong investors qualities and characteristics

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are a record of continuous dividend payments or growth.

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Some of them might be examples like Amazon, or your Apple or

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your Costco of the world. So those are sort of your blue chip

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type companies. So again, the risk is higher in the smaller

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companies than the larger based on just a variety of factors.

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Just think about it a large company versus a small like mom

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and pop shop, you know, you know, the large company has the

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resources, to stick it out if there is big events in the

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economy and things like that, versus a smaller company, which

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doesn't have as many, maybe clients or as many resources to

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tap into if an event happens that impacts the company. So

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just in a sense of looking at companies, smaller companies are

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going to be higher risk for the most part than larger companies.

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Stocks can also be broken down by how they perform in different

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business cycles. So again, there's all sorts of ways that

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we can look at individual stocks or when we look at the category

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of stocks, breaking it down into what kinds and what types and so

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there's also you can categorize them by business cycles. And

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there would be cyclical versus defensive. So cyclical stocks

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are going to be sensitive to economic swings, they probably

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rise quickly when the economy does well and fall when the

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economy does not. Examples of cyclical could be like an

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automaker, because when times are good people are buying new

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vehicles. But in periods of recession, obviously, people are

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going to just repair their vehicles keep driving what they

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have, defensive stocks are going to demonstrate a relative

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stability, even in maybe poor economic conditions. So when

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when we're in more of like recessionary times, and are

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going to be less impacted, then by the business cycle, and

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again, this is sort of in theory, how they should behave.

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So for instance, like a utility stock might not change much in

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periods of expansion or recession, because maybe the

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rates don't, the usage rates don't change drastically. So

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maybe times are tough, but people are still going to be

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turning on their heat. And using electricity in their house, like

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it's going to take a lot for that behavior to really change.

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So that's maybe more of a defensive type stock. Stocks can

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be divided also in different sectors. So you can have ones

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that fall into the financial the energy, materials are

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industrial, consumer discretionary,

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telecommunication, healthcare, utilities, information

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technology. So again, based on the sector, there is maybe some

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con like based on the overall economy could impact that stock

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more so than others. So for instance, when COVID hit, if you

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were invested in companies that were really kind of in that

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travel related sector, you might have saw a bigger impact on

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those stocks, they might have fell fallen further than some of

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the other companies because that industry was very much more like

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very specifically impacted by the events that occurred. So

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that kind of gives you some ideas for how we can kind of

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break it down or look at stocks on the different qualities. Now,

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let's say you're looking for individual stocks to invest. So

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what do you do, then? The question might be, I'm looking

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so how do I know what to invest in? Well, there's lots of

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different publicly traded stocks to buy or invest in. So there's

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this whole big, you know, pool to choose from, of 1000s of

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different companies. So there's lots of options. So where do you

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start? Well, you might start by taking that more macro approach,

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which means looking at it from kind of the top down, and

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looking at bigger themes and sectors and then narrowing down

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your focus from there. So you might be thinking, I believe

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that if interest rates are going up, I think financial companies

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will do well. So then then your focus is narrowed in on okay,

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maybe you're looking at some banks or insurance companies as

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part of the type of stocks you're looking for. Or you can

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kind of turn things around and look at more of a bottom up

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approach. So you're looking at individual stocks, and deciding

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just based on the stock itself, is it a suitable investment for

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you? So you're not taking that top down approach. You're just

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saying, Okay, I heard about this stock or I read something about

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this specific company, I want to look into it more and decide if

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it is suitable for me. So again, I'm assuming that most of you

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listening to this are not looking to be day traders.

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Because this episode is not for a day trader. And this podcast

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is not really designed to get to that level of detail. So it's

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more so this episode is about if you're looking to just

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understand the basics of stock markets and investing and really

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just a good place to kind of start or some of the basics

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right so when you're looking into something like that well

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and what types of stocks to buy a great place to start when

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we're looking at stocks and stock market. It is a stock

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quote. So having an app on your phone, or just doing an internet

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search of a specific company, and looking up a stock quote. So

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there's a variety, again, there's a variety of apps too,

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that you can use where you're, or just search the internet. But

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a stock code is going to offer you a variety of details in

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itself. So it's a great tool, to if you're looking for an

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investment, give you kind of the basic stats, almost an overall

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picture of the company, it's probably not the only thing

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you're going to use to make a decision on to whether to buy or

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not, but it's going to give you some you know, again, quick

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stats, a good sort of

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overview as as far as what your you know, some of the criteria

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or the, what the company is looking like price wise and

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things like that. So, you're going to use like, a stock

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quote. And if you don't know the symbol, you can actually just

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internet search, you know, this is the company, what is the

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stock symbol, and you will get that the quotes going to tell

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you things like the 52 week high and low, which is going to just

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be it's basically the highest is traded at over the year, and the

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lowest is traded at so you get a nice range of where it's been

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throughout the past 52 weeks, you're gonna also get a daily

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high and low when you're looking at a stock quote. So it's just

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what price was the highest it's gone to today, what is the

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lowest, the last price traded? So again, that's going to show

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you basically any shares that exchanged hands most recently,

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what price did they trade it? So again, it's an auction market

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buyers and sellers, the last trade that occurred, what price

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did it happen at, if the stock pays a dividend, you're going to

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see the dividend yield, and daily share volume too. So how

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many shares have traded for the day that's going to show up as

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well, on the quote, you're also going to get a few more kind of

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detailed measures. So one of the important ones and, and when

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you're looking at when people are talking about stocks and and

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reporting earnings, and things like that you're going to see

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and hear about is EPS so earnings per share. And that is

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your net income, the company's net income, not yours, the

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company's net income divided by the number of shares

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outstanding, which essentially telling you how much it makes

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per share of stock, how much the company earns per share with

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stock, you're also going to get a measure something like PD, so

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p dash E, meaning price to earnings. And that's also

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something that's widely reported. And that's just giving

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you the share price divided by that earnings per share number.

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So again, you don't have to do the math on these, it's gonna

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provide it for you, when you're looking at a stock quote, a PDE,

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something like a high P E could mean so high price to earnings

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could mean that a stock is overvalued or that growth is

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expected. So it's kind of like it's a pricier or maybe a growth

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year stock. So the PE as a measure, it's used best when

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you're using it as a comparison tool against competitors in the

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industry in the specific type of sector industry, or comparing it

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against itself to where it historically was valued. So you

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could say, okay, the stock history is trading at a price a

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P E price to earnings of 13 times, but it usually trades

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around 20 times. So if you're thinking what's trading

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currently at 13 times, it's usually at 20. It's trading

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lower than usual. So that could mean that it's priced a bit

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lower, maybe on sale, maybe a good opportunity to buy. Again,

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this is just one thing to look at, or it's one thing to

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consider or comparing it to itself. But again, you have to

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compare apples to apples. So I grabbed this off of quote, but

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Amazon it said was trading at 58 times. And then Royal Bank was

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trading at 13 times. So if I compare the two, I'm like, well,

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Royal Bank, so a 13 times that's much sort of cheaper or cost

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effective. But of course, you can't compare the two, they're

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in very different industries. So you might want to compare Royal

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Bank with another Canadian bank, or maybe you're going to compare

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some US banks and maybe one bank is trading at 20 times, and one

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bank is trading at 15 times. And that might help your decision to

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say okay, I'm going to buy the one that's essentially not as

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high of a multiple, because if it's a higher multiple, it's

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looking a little bit more expensive. But again, there's

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Amazon and it's trading at 58 times it's historically traded

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at even higher multiples than that. So the it's hard to say

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what is a high number, what is a low number, and you can't really

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use it as comparison against each other in like against very

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different companies. So it's again comparing it to similar

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companies. It might have value or comparing it to where the

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company has historically traded again, it's just this is one

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measure, it's not going to be your ultimate decision maker.

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But when you're listening and hearing about companies coming

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out with earnings and things like that, these are some of the

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things you're going to hear in those reports or in those

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articles. So it's giving you just more information.

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Ultimately, the investment decision of what you invest in

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is going to be based on a variety of factors. So

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as well, so when we're looking at investing in stocks, stocks

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are publicly traded companies. So a benefit to investing in

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stocks being that they're publicly traded, it means that

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information about them is publicly available as a publicly

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traded company, they're required to report financials and major

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company events, so their report financials on a quarterly basis,

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and then they give you their annual numbers. And then any

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major company events that could be material, they have to report

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as well. So maybe it's that the CEO quit or was fired, and

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someone's replacing the person or whatnot, that's going to be

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publicly disclosed as well. So you can get all this information

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directly from the company website. Usually, it's under

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something like investor relations, you can take time and

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read through the company financials, if you so choose.

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And and that's really a like a warren buffett approach, like if

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you've ever, you know, read anything about Warren Buffett or

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I watched like a biography on him once and it was about like,

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basically how his day is structured, and he spends the

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majority of it just reading through Company Financials. I'm

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assuming most of you listening to this, are not so inclined to

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read the company financials, the accountants and whatnot in

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numbers, people, it will be thrilling information. But I

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think for others, they probably opt to watch Netflix or

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something over reading accompany financials. But again, this

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information is publicly available, it's not, you know,

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secretive, it's not only certain people are going to know it is

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available to anyone. So it is something to just be aware of.

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And you can access research reports from the financial

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institution you invest with, you can also get different reports

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from financial professionals. So these research reports are

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sometimes very specific talking and giving a detailed kind of

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overview of a specific company, and their perspective about

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where they think the stock is going. And again, it's an

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opinion based based on the different factors and

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measurements they use. So just be aware of that. And then as

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well, if you're using online sources that are making

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recommendations, do be very aware of where the information

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is coming from who is behind it. Because obviously, there could

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be biased information out there. So you might be reading a report

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about a company or stock, and they're really, you know,

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supporting it and almost promoting it and saying buy the

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stock for all these reasons. Well, you know, are they

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personally invested in the company because obviously, like

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we talked about, it's, it's a auction market, if you get more

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buyers wanting it than sellers, that's going to drive the price

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up. So people that are personally invested in stock are

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going to want lots of people to be buying the stock. So just

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again, keep in mind, you know, what is the source? Is this

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independent report and, or information or research I'm

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reading? Or is there someone's opinions embedded in this. So be

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very mindful as with anything, we need to be mindful of where

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we're getting your information from? Who's behind the

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information. So we're talking about stocks, well, what about

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actually trading stocks buying and selling them. So for that,

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you can do this completely on your own in a direct investing

Kalee Boisvert:

account. So using a direct investing platform, which means

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it's very much do it yourself, you pick and choose you buy and

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sell. Or if you think that that's just not a good fit for

Kalee Boisvert:

you, you can also work with a financial professional, who's

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going to be working with you to give recommendations and make

Kalee Boisvert:

investment, you know, changes and whatnot, and trades for you.

Kalee Boisvert:

Or you can use even more of a hybrid approach through

Kalee Boisvert:

something even like a robo advisor where it's more do it

Kalee Boisvert:

yourself, but you enter some information about yourself. And

Kalee Boisvert:

output is giving you some recommendations or ideas. So

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again, there's all types of platforms out there to be aware

Kalee Boisvert:

of, and it's about finding the best fit for you. So if you are

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going to take a do it yourself approach. And if you're doing it

Kalee Boisvert:

on your own entering a trade, you're concerned about making an

Kalee Boisvert:

error and nervous to actually do it. Most platforms will offer a

Kalee Boisvert:

help desk number. So do call into that if you need any

Kalee Boisvert:

assistance to help have someone walk you through it. Be mindful,

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of course that you're trading during market hours. And again,

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there's financial professionals out there so I'm not necessarily

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making this podcast so you all have to go now and be Do It

Kalee Boisvert:

Yourself investors and go start buying and selling all sorts of

Kalee Boisvert:

stocks, there is options and depending on you and what you're

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looking for, maybe it maybe a best fit is doing it yourself.

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Maybe the best fit is working with a professional. So I get

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again, though I still encourage whatever option you choose or

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kind of route you take. I still highly encourage anyone to have

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this basic knowledge and Understanding of investing, and

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what we talked about on this episode, because even if you're

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working with a professional, it's always good to stay engaged

Kalee Boisvert:

and have a level of understanding. So you're in the

Kalee Boisvert:

know, you know what's going on with your investments. You don't

Kalee Boisvert:

ever want to be fully giving up control to someone else. You

Kalee Boisvert:

want to always be engaged, be involved, be part of the

Kalee Boisvert:

conversation, because as the at the end of the day, it's still

Kalee Boisvert:

your money. And the end decision has to be yours and you need to

Kalee Boisvert:

be on board with it too, and be aligned with who you're working

Kalee Boisvert:

with. If it is a financial professional, you need to make

Kalee Boisvert:

sure you're on the same page. So again, it's important to have

Kalee Boisvert:

this level of understanding yourself as well. That's all I

Kalee Boisvert:

have for you today. So hopefully you're feeling ready to continue

Kalee Boisvert:

the conversations and talk stocks. So go talk stocks with

Kalee Boisvert:

someone else you know,

Kalee Boisvert:

it's fun, I love talking stocks. So hopefully this episode has

Kalee Boisvert:

made you feel ready and comfortable to go do some

Kalee Boisvert:

talking stocks as well. Thank you so much, and I will catch

Kalee Boisvert:

you on the next episode.

Kalee Boisvert:

I hope you found value in this episode. And because I'm such a

Kalee Boisvert:

proponent of taking confident action, I want to pose a

Kalee Boisvert:

question to you the listener. What is one action that you feel

Kalee Boisvert:

inspired to take after listening to today's episode? If you enjoy

Kalee Boisvert:

listening, please subscribe and share with your friends and

Kalee Boisvert:

family. Thank you so much and I will catch you next time