I really like Vanguard because they have very easy to understand funds but I feel that Fidelity and ETrade are both solid as well. I believe both of the latter allow you to attach a checking/saving account as well. I know Charles Schwab does. I also like a newer one called Motif but they’re much less established if that’s a concern.

What is the view on Vanguard funds vs say an index fund? It is my understanding that Vanguard can create its own deals similar to Warren Buffett and that is what allows it to outperform the market, (i.e. like Buffett getting a huge amount of BoA when it was down in a backroom deal, and everyone scrambling to follow as the stock shot up). I am curious what you others think on the benefit/cost ratio of having big players funds.

Vanguard is a brokerage.   It's not "doing deals" like Warren Buffett.  Vanguard has a very popular index fund, I think it's one of the original index funds.  I would highly recommend Vanguard's index fund.  

The idea is to invest and let time do the work.  The average investor has no business picking stocks, or picking sectors, or timing the market.  The approach I would take is:

1) Make sure you set aside enough money so no matter what happens, you will not have to sell your investments. 
2) Invest for the super-long term, by which I mean, never sell. 
3) As soon as it is possible, diversify.  Stocks, bonds, real estate.  

The very best long term investment is a diversified set of profitable businesses.   <That's the stock market.  Remember, when you buy a stock, you are buying a share of a business.  The stock market goes up and down, but over the long run it outperforms everything else, and for good reason.   An S&P500 index fund is a set of 500 of the very best American businesses.   And that's why that index fund will outperform everything else over the long haul, through booms and busts, Democrats and Republicans, war and peace.  Buy and hold, never sell.   Because those 500 businesses are led by the smartest, most ingenious people in the world, whose goal in life is to make money, and you should invest in those people and forget about picking stocks.  Invest in the S&P500, and sit back and let all those brilliant business people make you money.

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I have a retirement plan through work that is employee matched at a fairly high percentage.  

I'm in my mid 20s and consider myself a fiscally responsible person.  I bought my first house about 5 years ago, did some work to it, flipped it for some gain and bought a 2nd home that will be more longterm for me.  Now that I have that settled in I have focused into investing again.

I recently started doing some day trading (more for fun and trying to learn my way around) and I have had an interest in the market since I was in middle school.  Now my focus is turning to mutual funds that I can do as Marty has done.  

I enjoy day trading but it really is a high risk situation unless you buy the true and proven few.  If a stock doesn't pay me a consistent dividend I'm not interested.

Don't buy a managed mutual fund.   Those carry management fees.  You'd be amazed how 1% a year adds up over a lifetime.   Buy unmanaged index funds.

If a portfolio drops 20% in a given year, how much will it take to recover that value?

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Don't buy a managed mutual fund.   Those carry management fees.  You'd be amazed how 1% a year adds up over a lifetime.   Buy unmanaged index funds.

If a portfolio drops 20% in a given year, how much will it take to recover that value?

It depends on how the market does after that. 

Maybe I don't understand what you are asking there.

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If the market experiences a 20% drop then it takes a 25% return on the portfolio the next year to break even. The purpose of managed accounts isn't necessarily beating the total average of any given indecies, rather avoiding the large drops associated with a beta roughly equal to 1.

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My investment strategy?

*power on*
*boot Windows*
*open MSIAfterburner.exe*
*open zcash4win.exe*
*run miner.bat*
*collect money*

Oh and I have a 401k or something stupid like that too

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My investment strategy?

*power on*
*boot Windows*
*open MSIAfterburner.exe*
*open zcash4win.exe*
*run miner.bat*
*collect money*

Oh and I have a 401k or something stupid like that too

Back in the day I'd buy a quarter pound for $375, sell 3 1 oz bags for $125 each, end up with an ounce bag for myself.

Did that every Friday. That was my investment strategy. I didn't get rich, but I was happy.

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If something can corrupt you, you're corrupted already.
- Bob Marley


 

My investment strategy?

*power on*
*boot Windows*
*open MSIAfterburner.exe*
*open zcash4win.exe*
*run miner.bat*
*collect money*

Oh and I have a 401k or something stupid like that too

Back in the day I'd buy a quarter pound for $375, sell 3 1 oz bags for $125 each, end up with an ounce bag for myself.

Did that every Friday. That was my investment strategy. I didn't get rich, but I was happy.

I was told there would be no math.

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“An empty vessel makes the loudest sound, so they that have the least wit are the greatest babblers.”. - Plato

I wouldn't consider myself an investor yet but I do the basics. I contribute 4% to my company's Roth IRA I pay taxes upfront since I expect they're always going to go up. I have a modest amount of life insurance just in case and we spend the rest on paying down debt. a big chunk is my student loans but soon we plan on opening a second savings account once my truck is paid off in the next two years

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I have a buddy that's an analyst on Wall Street who gives me free advice.
It's usually really good advice except when I screw up "getting out" at the right time.

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