Hi Matt: More advise:
you wrote:
>>>>Toofuzzy, thanks for your advice about ETFs. I am seeing the wisdom of AIMing a fund instead of stocks, especially starting out. There's no way I want to lose my entire account by picking the wrong stock. <<<<<
Well lets's say you start with three AIM acounts. Each one is a seperate individual stock. If one stock goes bankrupt you will lose the value you started with IN THAT ACCOUNT.
You Wrote:
>>>>However, what is a good method for picking/screening funds? With stocks it's fairly easy. I have gone to Yahoo Finance and used their screener to find stocks with certain criteria (I mentioned a few above). How might you do the same with mutual funds though?<<<<
You need to start with what your investment philosophy (plan) will be.
Individual stocks, mutual funds, ETF's, none of those, all of those.
Next: If you use funds, do want to use either mutual funds (cheaper to add a little money at a time and trade) or Exchange Traded Funds (ETF"S)(lower fees,no active management)
Next: Do you want to invest by style or by industry. I have mixed feelings as to which way is better. Both Tom and I have posted which ETF's we have bought. Tom invested in five he thought had the best prospects and to not have too little in each one to be worth AIMing. I invested in ten to have greater diversification and feel comfortable with more industries even if some do not have as much volitility (which AIM likes) or growth prospects which are not quite as good. I posted on switching from mutual funds to ETF's near the beginning of this month: post #7573. It did not go as quickly as I wanted but that is another story.
Toofuzzy
Take the road less traveled. It will make all the difference.
