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01_228029 ffirs.qxp 11/16/07 11:36 PM Page i Investing Online FOR DUMmIES‰ 6TH EDITION by Matt Krantz 01_228029 ffirs.qxp 11/16/07 11:36 PM Page i Investing Online FOR DUMmIES‰ 6TH EDITION by Matt Krantz 01_228029 ffirs.qxp 11/16/07 11:36 PM Page ii Investing Online For Dummies,® 6th Edition Published by Wiley Publishing, Inc. 111 River Street Hoboken, NJ 07030-5774 www.wiley.com Copyright © 2008 by Wiley Publishing, Inc., Indianapolis, Indiana Published by Wiley Publishing, Inc., Indianapolis, Indiana Published simultaneously in Canada No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permis- sion of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 646-8600. Requests to the Publisher for permission should be addressed to the Legal Department, Wiley Publishing, Inc., 10475 Crosspoint Blvd., Indianapolis, IN 46256, (317) 572-3447, fax (317) 572-4355, or online at http://www. wiley.com/go/permissions. Trademarks: Wiley, the Wiley Publishing logo, For Dummies, the Dummies Man logo, A Reference for the Rest of Us!, The Dummies Way, Dummies Daily, The Fun and Easy Way, Dummies.com, and related trade dress are trademarks or registered trademarks of John Wiley & Sons, Inc. and/or its affiliates in the United States and other countries, and may not be used without written permission. All other trademarks are the property of their respective owners. Wiley Publishing, Inc., is not associated with any product or vendor mentioned in this book. LIMIT OF LIABILITY/DISCLAIMER OF WARRANTY: THE PUBLISHER AND THE AUTHOR MAKE NO REP- RESENTATIONS OR WARRANTIES WITH RESPECT TO THE ACCURACY OR COMPLETENESS OF THE CONTENTS OF THIS WORK AND SPECIFICALLY DISCLAIM ALL WARRANTIES, INCLUDING WITHOUT LIMITATION WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE. NO WARRANTY MAY BE CRE- ATED OR EXTENDED BY SALES OR PROMOTIONAL MATERIALS. THE ADVICE AND STRATEGIES CON- TAINED HEREIN MAY NOT BE SUITABLE FOR EVERY SITUATION. THIS WORK IS SOLD WITH THE UNDERSTANDING THAT THE PUBLISHER IS NOT ENGAGED IN RENDERING LEGAL, ACCOUNTING, OR OTHER PROFESSIONAL SERVICES. IF PROFESSIONAL ASSISTANCE IS REQUIRED, THE SERVICES OF A COMPETENT PROFESSIONAL PERSON SHOULD BE SOUGHT. NEITHER THE PUBLISHER NOR THE AUTHOR SHALL BE LIABLE FOR DAMAGES ARISING HEREFROM. THE FACT THAT AN ORGANIZATION OR WEBSITE IS REFERRED TO IN THIS WORK AS A CITATION AND/OR A POTENTIAL SOURCE OF FUR- THER INFORMATION DOES NOT MEAN THAT THE AUTHOR OR THE PUBLISHER ENDORSES THE INFORMATION THE ORGANIZATION OR WEBSITE MAY PROVIDE OR RECOMMENDATIONS IT MAY MAKE. FURTHER, READERS SHOULD BE AWARE THAT INTERNET WEBSITES LISTED IN THIS WORK MAY HAVE CHANGED OR DISAPPEARED BETWEEN WHEN THIS WORK WAS WRITTEN AND WHEN IT IS READ. For general information on our other products and services, please contact our Customer Care Department within the U.S. at 800-762-2974, outside the U.S. at 317-572-3993, or fax 317-572-4002. For technical support, please visit www.wiley.com/techsupport. Wiley also publishes its books in a variety of electronic formats. Some content that appears in print may not be available in electronic books. Library of Congress Control Number: 2007941220 ISBN: 978-0-470-22802-9 Manufactured in the United States of America 10 9 8 7 6 5 4 3 2 1 01_228029 ffirs.qxp 11/16/07 11:36 PM Page iii About the Author Matt Krantz is a nationally known financial journalist who specializes on investing topics. He has been a writer for USA TODAY since 1999, where he covers financial markets and Wall Street, concentrating on developments affecting individual investors and their portfolios. His stories routinely signal trends that investors can profit from and sound warnings about potential scams and issues investors should be aware of. In addition to covering markets for the print edition of USA TODAY, Matt writes a daily online investing column called “Ask Matt,” which appears every trading day at USATODAY.com. He answers questions posed by the Web site’s audience in an easy-to-understand manner. Readers often tell Matt he’s the only one who has been able to finally solve investing questions they’ve sought answers to for years. Matt has been investing since the 1980s and has studied dozens of investment techniques while forming his own. And as a financial journalist, Matt has interviewed some of the most famous and infamous investment minds in modern history. Before joining USA TODAY, Matt worked as a business and technology reporter for Investor’s Business Daily and was a consultant with Ernst & Young prior to that. He earned a bachelor’s degree in business administration at Miami University in Oxford, Ohio. Unlike other business majors who just focused on accounting, finance, and investments, Matt took journalism classes on his own time. He was an editor of the campus newspaper and filed stories to several newspapers, including The Cincinnati Enquirer. In addition to appearing on the print and online pages of USA TODAY, Matt’s work has also been featured in Men’s Health magazine. He has spoken for investing groups, including at the national convention of BetterInvesting and on Nightly Business Report, which airs on PBS. Matt is based in USA TODAY’s Los Angeles bureau. When he’s not writing, he’s either spending time with his wife and young daughter, running, playing tennis, mountain biking, or surfing. 01_228029 ffirs.qxp 11/16/07 11:36 PM Page iv 01_228029 ffirs.qxp 11/16/07 11:36 PM Page v Dedication This book is dedicated to my wife Nancy, who has supported and carried me throughout the entire project from the very beginning. During the bleary- eyed writing sessions sitting in front of the computer at 1 a.m., Nancy was always there to suggest that perfect word I couldn’t think of, bring in fresh- cut strawberries, or read every single page. The book is also dedicated to my daughter, Leilani, who put up with a Dad who was almost as nervous about being a first-time book author as he was to be a first-time parent. Author’s Acknowledgments Staring at a flashing cursor on a blank Microsoft Word window, knowing I needed to fill hundreds of pages in a few months, was an intimidating task. That’s why all the support I received kept me going. My editors at USA TODAY supported the book from its genesis and encouraged me along the way. My assignment editor, David Craig, as well as other USA TODAY editors, including Rodney Brooks, Ray Goldbacher, Jim Henderson, John Hillkirk, Ken Paulson, Geri Coleman Tucker, and Kinsey Wilson, have supported this book or my development as a writer and reporter. Chris Woodyard, a fellow business reporter in USA TODAY’s Los Angeles bureau, has been a great source of ideas and daily encouragement. My wife, Nancy, continued her personal mission of stomping out every typo on the planet by reading every word in this book over my shoulder. Wiley has been tremendous to work with as well, including Senior Acquisitions Editor Bob Woerner, Senior Project Editor Paul Levesque, and Copy Editor Virginia Sanders. Julie Huynh, technical editor, made sure the book was free of “dead links” by checking every URL. Big thanks to Matt Wagner, my literary agent, for thinking of me for the project and presenting it to me. Fane Lozman provided a hand by sharing his options expertise. Thanks to my mom and dad for instilling, at a very young age, a curiosity in investing, writing, and computers (and for buying me my first computer well before having a PC was common). And thanks to my grandparents for teaching me the power of saving and investing. 01_228029 ffirs.qxp 11/16/07 11:36 PM Page vi Publisher’s Acknowledgments We’re proud of this book; please send us your comments through our online registration form located at www.dummies.com/register/. Some of the people who helped bring this book to market include the following: Acquisitions, Editorial, and Composition Services Media Development Project Coordinator: Katherine Key Senior Project Editor: Paul Levesque Layout and Graphics: Claudia Bell, Senior Acquisitions Editor: Bob Woerner Reuben W. Davis, Joyce Haughey, Copy Editor: Virginia Sanders Melissa K. Jester, Ronald Terry, Christine Williams Technical Editor: Julie Huynh Proofreaders: David Faust, Evelyn W. Still Editorial Manager: Leah Cameron Indexer: Slivoskey Indexing Services Media Development Project Manager: Laura Moss-Hollister Anniversary Logo Design: Richard Pacifico Media Development Assistant Producer: Angela Denny Editorial Assistant: Amanda Foxworth Sr. Editorial Assistant: Cherie Case Cartoons: Rich Tennant (www.the5thwave.com) Publishing and Editorial for Technology Dummies Richard Swadley, Vice President and Executive Group Publisher Andy Cummings, Vice President and Publisher Mary Bednarek, Executive Acquisitions Director Mary C. Corder, Editorial Director Publishing for Consumer Dummies Diane Graves Steele, Vice President and Publisher Joyce Pepple, Acquisitions Director Composition Services Gerry Fahey, Vice President of Production Services Debbie Stailey, Director of Composition Services 02_228029 ftoc.qxp 11/16/07 11:37 PM Page vii Contents at a Glance Introduction .................................................................1 Part I: Getting Started Investing Online .........................7
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