Hello, Newbie needs investment adivce

Hi, im Sandy from Canada and completely new to investing.  I've never invested in the stock markets that new, lol. Anyways im looking to invest some money in a few companies listed on the TSX(toronto stock exchange).

Whats the best way to start? Im planning to buy these companies stock and hold for the long term. Do i have to open an online trading account, or i can simply go to my bank and say i want to buy so much stock in these companies?

The reason i dont want to open an online trading account is because im not going to be an active trader. Im mostly interested in buy and hold long term and invest in big name companies or commodities like Silver.

The companies im interested in are

1) Bombardier Inc

2) Suncor Energy

3) Research In Motion(RIM)

4) Manulife Financial Corporation

5) Toronto-Dominion Bank

What do you guys think of these companies, also which big name US companies would you recommend. And is Silver a good buy now or will it continue it's slide?

Thanks

Hi Beaumont,

Thx for the advice, i am going to the bank tomorrow to get detail on opening a brokerage account, Im looking at either Scotiaitrade or TD Waterhouse.

Another question, someone told me when you open a new brokerage account it takes a few days to open the account, and you cant make trades in the meantime. Is this true?  I was under the impression that you could open a brokerage account, just like you would open a bank account, and right away you could trade?
 

Quote:

Originally Posted by Beaumont 

Hello Sandy

 

The best way to start buying stocks is to open a online discount brokerage. Scotiaitrade is very good imo but commissions can be pricey $19.99 per trade unless you have over $50000 with them then its only $9.99 per trade.

 

Not sure a bank can buy the stocks you like they will more than likely recommend you to open a discount brokerage account.

 

Those are some decent blue chip names. Although I'd stay away from Rim and Manulife. Rim is having a hard time with Apple stealing their lunch and Manulife with this low interest rate environment.

 

I think Silver is good long term but how hard it will continue to currently crash who knows.