By the time a person reaches adulthood, it is a pretty good bet that he or she will have at least a passing familiarity with the stock market. But if you’re interested in putting your money into stocks, it’s probably a better idea to have more than a “passing familiarity”, don’t you think? This post is an overview of the purpose and structure of the stock market in Canada.
The first $100,000
In her book Damn Right!: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger, Janet Lowe credits Charlie Munger with uttering the sentence, “The first $100,000 is a bitch” at an annual shareholders meeting.
It may be tempting to roll your eyes and see this as some kind of platitude that has no real relevance to where you are today, but that would be a mistake. There’s both wisdom and math behind that deceptively simple sentence.