Whats a stock broker?
A stockbroker is a regulated professional who buys and sells shares and other securities through market makers or Agency Only Firms on behalf of investors. Becoming one= Step1 Begin to prepare for your career in high school by taking courses in math, economics and business. And with even a small starting sum, you can manage your own stock portfolio (in a parent's name if you are under 18) to learn about different investments and their return. Step2 Join an investment club, which compares different investment opportunities, analyzes results and jointly invests its funds. Step3 Go to college. Most brokers are college graduates with a degree in finance, economics or business. Step4 Pass the General Securities Registered Representative Examination (Series 7 exam), administered by the National Association of Securities Dealers. Most states also require the Uniform Securities Agents State Law Examination (Series 63 exam) and the Uniform Investment Advisor Law Exam (Series 65 exam). Step5 Take advantage of on-the-job training, offered by most brokerage firms, to prepare for the above exams, a process that takes four to six months. Upon passing the required exams, a broker becomes a registered representative of his or her sponsoring firm. Step6 Expect a competitive work environment after being hired. Firms often hire a plethora of recent college graduates with the expectation that a large percentage will 'wash out' during the grueling early months of training and building a clientèle. Step7 Emphasize your studies and work experience (if any) in finance, economics and/or business when writing your resumé. A professional, aggressive image is crucial at the interview, where prospective employers will be evaluating your tenacity along with your business savvy.
I got a 1099 from my broker, but..?
If the total of Interest, Dividends, and stock sales (not profit on the sales, the total sales!) is less than $950, then you don't need to file. If you had a loss on the sales shown on the 1099-B, but the total of the sales, dividends, and interest exceeded $950, you have to file a return to let the IRS know that you lost money. Otherwise, the IRS assumes your cost was $0, and will send you a letter (CP-2000 notice) with a big tax bill. You should get help. Ask your parents for advice on who to use to prepare your tax returns. I hope this helps. Gary
How does a 20 year old start a stock brokerage firm or hedge fund?
Thanks for a2a, maybe i'm not the right person to give answer, but i worked for stock broker when i was young, so let me share a little.Brokerages make profit from transaction fees, they usually don't care if the transaction give you profit or loss. you buy stocks they get fee, you sell stocks they get fee. this is the most simple type of brokers (there also Brokers who help companies with IPO, selling Bonds etc).to start a brokerage you will need a alot of money (Million of Dollars) if this is something you don't have to concern then..you will need license, you will need a team, you and your team usually must take a set of exams to qualified running brokerage firm.you will also need to buy some links to estalished connection to stock exchange, this will be used to monitor stock prices and make orders.nowadays there is no more floor trader, so all orders are made via software/application. phone line is a must incase the application got some outage.for the trading application you need some software company build it for you. then you will need a bunch of IT people to maintain it. don't forget all servers,networking, database application behind that trading software.if those technical and legal requirements are done, then the hardest part is to get clients.so to own a broker firm, you will need a lot of money, and will lost monthly/yearly overhead just to maintain your firm. you will lost(invest) money before you make money.this is a very simplified & uncomprehensive illustrationif you really really want this, you better join a broker so you will know how they work, how they run the daily operation, how they manage risks, how they sell products/services and manage clients.cmiiw: i believe most of the brokers at my era were built not for merely providing services for clients, but they were built to support the existing expanding business of the moguls.i have no idea about hedge fund, but i'm sure they are not making profit from transaction fees, they collect funds from investor, trade those funds and got commision, so they eat what they make.but if what are you try to achieve is just to trade investor funds then you don't need both. you just need to established a good trading records then publish it with Myfxbook, Covestor, Etoro etc, then i'm sure people will join you.
Capital Gain Tax on Short Term Stock Trading....?
Taxes will be taxed at ordinary income. Brokerage fees can range from $4.95 to $9.95 depending on the broker used. That is, each time you buy or sell a stock you will pay between $4.95 to $9.95 for the transaction. So say you buy 10 stocks and sell the same 10 stocks in one week. This means you'll already have spent this much: 10 x $9.95 = $99.50 to buy the stocks 10 x $9.95 = $99.50 to sell the stocks You'll have spent $199.00 just in brokerage fees. So assuming there is a miracle and you do reach 5% ($250) - 5% weekly is very unlikely- then after you minus all your brokerage fees you'll be left with $51. I don't recommend trading that often when you only have $5,000. Just invest it in 1 or 2 stocks you like and hold on to them so you don't have to pay an outrageous amount on brokerage fees. Thinking you will get 5% weekly is unrealistic. But YOU DO have a much better chance to reach 5% if you just buy two stocks and hold on too them.
Statistics: A stock brokerage firm plans to reduce the size of it's work force by dismissing two of it's nine brokers.?
A stock brokerage firm plans to reduce the size of it's work force by dismissing two of it's nine brokers. If five are men and the rest are women, in how many ways can the manager dismiss: (a) any two of the male brokers; (b) any two of the female brokers; (c) one male and one female broker; (d) any two broker?
Movies: The Hunt For Red October or K-19: The Widowmaker?
i actually fell asleep in the theater when i saw The Hunt For Red October. it wasn't until around 97 that i decided to give that film a second chance. turns out i was just a stupid kid, THFRO is possibly the best cold war submarine epic ever. it has this plodding procedural pace that reminds me of DAY OF THE JACKAL, not very exciting at first but it all comes together as the movie reaches it's final turn and multiple scenarios collide in a giant satisfying endgame. EPIC cast with Alec Baldwin Sean Connery , Sean Neil, James Earl Jones, Scott Glenn, Tim Curry, Courtney B. Vance, Stellan Skarsgard, Jeffrey Jones. it's also directed by the greatest American action director ever in john mctiernan. Shot by the amazing cinematographer Jon De Bont and based on a best seller this is the cold war thriller you want to see. At #2 I'd stick in Crimson Tide directed by Tony Scott in 95. K-19 is a fine movie. I've always liked that director since she made POINT BREAK. So i'd argue for her sharing number two spot. but if you asked me which is BEST. Got to go with THE HUNT.
I want to start investing money in the stock market. What should I do?
I'm 19 years old, and I want to start investing in the stock market. How much money can I make over the next years if I'm good with buying and selling stocks..? I am ready to invest $100 as soon as I can and then build off the next weeks when I get paid up to $1000. What should I do first, and where do I go first??? I am confused on how to start investing.
I'm 19, a high school dropout in the USA, I'm lost. What do I do?
Some thoughtsI don't know why you did not apply for financial aid. Giving your financial situation you would've been likely able to have free college tuition even if you didn't graduate from high school. Secondly I don't understand why your community college did not counsel you in using financial aid to pay for school and completing your GED while at community college. I don't think your problem is that you don't have anyone to go to, I think your problem is that you don't go to anyone before you make a decision.Going back to college Make a appointment with your community college financial aid office. Discuss your debt and what you'd like to do next. Ask them to help you negotiate, request forgiveness for, or pay off your debt. Ask for their help in completing the Federal financial aid forms https://www.fafsa-application.co.... Ask for their help and exploring money for homeless students since you still qualify as such if the apartment is not in your name. Ask about agencies in your community that pay for GED tests for people in poverty.Make an appointment with an academic counselor and discuss class load and your work schedule. Talk about courses you have completed and your goals. Map out a plan to transfer your credits to a 4 year college if you want.Join a student group at school in an area of interest. You will feel more connected to school and less likely to drop out. Ask the group members to hold you accountable to your dreams by encouraging you to completion.Where do I go to get away from my familyMake a budget so that you can start living differently from your family by paying off your debt, saving a little money and enjoying life. Save a little out of each check.Ask around the community about free counseling for depression.If you're moving consider if your current living situation is something you should leave or not. Is it stable and reliable and conducive to meeting your goals? If you're safe and can afford how you're living I suggest you stay till at least you've saved some money to move in a responsible way.Look for a location close to your school and job if possible or that offers public transportation. Lack of transportation is often an excuse to drop out of school. Don't give yourself this excuse.Thanks for asking. I'll pray for you stranger that your dreams come true. Please return here to let me know how it's going. I've got a lot more where this comes from.