The stock market can be incredibly daunting for people of all ages. How do we do it? Where to put our money?
Now with Twitter's plans to go public, FOX 29 thought it was important to help our viewers, so we brought in a stock whiz kid.
17-year-old Max Levin recently started his own company, StockPick101. Within a couple of months, he was picked up by Jim Cramer to lend his expertise and write for yahoo.com and other sites.
According to Max, TWTR released and filed for a billion dollar IPO (Initial public offering). Hopefully they won't wind up like their parent company Facebook that released their stock and went way down after it was released.
"If they find a way to leverage their assets to generate profit, I really think that they will be a company to be reckoned with," said Levin. "The big question is … will people forget about the company after it is released or will they keep going up."
"Am I talking to a 17 year old?" Jerrick proceeds to ask.
"I'm 16," he said.
Sheinelle also likes his sense of style.
So what if you wanted to invest? Levin gives some advice to the novice investor. Levin says that you can create an account either through a stockbroker or firm, or through the web. Some sites include Ameritrade, e-trade, Scottrade
He also recommends some research. Do not go in cold. Do some research through papers, media. There is a ton of information out there. Levin himself writes tips for www.thestreet.com with Jim Cramer.
Levin just talked about some good companies to invest in. Technology and natural resources are two places that Levin recommends because it's always moving forward. For kids and younger people, Levin recommends companies that are stable and well-branded, i.e. the GEs and the Alcoas and things on the Dow Jones or NASDAQ. When one gets into the S&P 500, then more volatile companies with very small market caps exists.
Sue Serio asked Levin if kids should invest in the companies that they are really passionate about. Levin said definitely. If there's a company that you love and seems to be doing well, and you could never imagine living without it in 20 years, then invest.
A common theme that emerged from the interview is to research. Don't put your money into anything without doing some research.
Watch the four segments to hear it from Max!