Investing Simulators & Books

[SweetSecret]

Does anyone on here know of any free or inexpensive simulators/games online about investing? Preferably, something that allows for diversification, shorting stocks, and maybe helps people to understand the difference between stocks, ETFs, mutual funds, etc. I am looking for some simulators or games that young adults (18-22 year olds) could play without me buying a board game that the pieces will inevitably go missing from. I really wish Cashflow 202 were online because the Cashflow 101 game is easy to get people started on. I am open to hearing about any online or apps and also interested to know if it can be played both as single player and/or multi-player. So, if I wanted to be able to walk them through a game while they are traveling out of state, would that be possible?

Also, dare I ask, but does anyone have thoughts on the Wallstreet Trapper's first ebook? The young adults are all from very low income families living in a rough neighborhood without high school diplomas and need something more relatable. Wallstreet Trapper's stuff looks like it could be relatable for them, but I am curious if the book would even be worth it. I have tried getting them to read Rich Dad Poor Dad and I do not think any of them did. Surprisingly, I have gotten two of them to sign up for Modern States though, so there is that.

Excited to hear suggestions!

[rachel83az]

Rich Dad, Poor Dad has a bad reputation among a lot of people. I'm no expert, but apparently a lot of the advice given is ... shall we say, not that great. Like, if you follow it, you'll be making poor investment choices.

Unfortunately, I don't really have any ideas for games. You might try looking through the "mods" for Tabletop Simulator on Steam. I would not be surprised if there was something viable there.

[SweetSecret]

Rich Dad, Poor Dad has a bad reputation among a lot of people. I'm no expert, but apparently a lot of the advice given is ... shall we say, not that great. Like, if you follow it, you'll be making poor investment choices.

Kiyosaki's writing and game is easy to understand. A lot of the other writers I have read would be far too advanced for this group. Dave Ramsey's stuff may work, but there are some fundamental points with him that I do not agree with. Suze Orman is okay, but I think I was also off put by some things in her writing that seemed to appeal more to parents of families... granted maybe not all of her books are like that and she has has some great points. Everything else that I have read though would just be way too advanced i.e. Ben Graham, Ramit Sethi, Bogleheads, Tony Robbins, etc. That's also why I'm wondering about this Wall Street Trapper guy, as he may cover the basics more.

[jsd]

Kiyosaki's writing and game is easy to understand.

Bad advice that is easy to follow is not a substitute for good advice.

[Kire]

Tastyworks has a lot of training videos on youtube that are solid, this is how I learned to trade options. I like how they teach a mechanical way of choosing trades and when to sell, this takes emotion out of the equation.

[SweetSecret]

Kiyosaki's writing and game is easy to understand.

Bad advice that is easy to follow is not a substitute for good advice.

True, but Kiyosaki excels at helping people to understand what assets are, saving and paying debt, taking certain jobs to learn, and why the tax system is setup the way it is. Not to mention the importance of ROI.

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Tastyworks has a lot of training videos on youtube that are solid, this is how I learned to trade options. I like how they teach a mechanical way of choosing trades and when to sell, this takes emotion out of the equation.

I have heard of them but never looked into their stuff. I will check them out, thanks!

[dfrecore]

We absolutely loved the Cash Flow games (have them both) but they are insane in how many pieces they have - and they're not cheap. When you put them together, it weighs an absolute ton.

I'm not a huge fan of Kiyosaki - love Dave Ramsey. I know that there are non-religious versions of his stuff available for public schools.

When I was taking Macroeconomics, our teacher made us choose 10 stocks and follow them through the semester. We had a spreadsheet that she'd created and we just put in the data. I think we all started with $10,000 and went from there, and whoever had the most money at the end "won." I think you could probably make something like this, and get together for a weekly meeting and talk about stocks, bonds, mutual funds, etc., and have them start to put their data in once a week, and see how they did. It would probably be very simple but effective.

[cardiacclep]

I have heard from serious investors that a read of Benjamin Graham's book, The Intelligent Investor, is considered essential reading. My understanding is the nuts and bolts are still relevant from the book despite being over 50 years old. Chapter 8 and 20 are the key chapters are important. Graham was Warren Buffet's mentor so good company. 

https://www.forbes.com/sites/schifrin/20...c45ccb69d3

[SweetSecret]

I have heard from serious investors that a read of Benjamin Graham's book, The Intelligent Investor, is considered essential reading. My understanding is the nuts and bolts are still relevant from the book despite being over 50 years old. Chapter 8 and 20 are the key chapters are important. Graham was Warren Buffet's mentor so good company. 

https://www.forbes.com/sites/schifrin/20...c45ccb69d3

I have read that. It's definitely more advanced than what this group could handle right now, but I would recommend it to them after maybe a year or two of studying the basics.

[jack125dc]

Does anyone on here know of any free or inexpensive simulators/games online about investing? Preferably, something that allows for diversification, shorting stocks, and maybe helps people to understand the difference between stocks, ETFs, mutual funds, etc. I am looking for some simulators or games that young adults (18-22 year olds) could play without me buying a board game that the pieces will inevitably go missing from. I really wish Cashflow 202 were online because the Cashflow 101 game is easy to get people started on. We have tried a game-based learning option here, but it seems that an online game is more suitable for us. I am open to hearing about any online or apps and also interested to know if it can be played both as single player and/or multi-player. So, if I wanted to be able to walk them through a game while they are traveling out of state, would that be possible?

Also, dare I ask, but does anyone have thoughts on the Wallstreet Trapper's first ebook? The young adults are all from very low income families living in a rough neighborhood without high school diplomas and need something more relatable. Wallstreet Trapper's stuff looks like it could be relatable for them, but I am curious if the book would even be worth it. I have tried getting them to read Rich Dad Poor Dad and I do not think any of them did. Surprisingly, I have gotten two of them to sign up for Modern States though, so there is that.

Excited to hear suggestions!

Found information about some popular games:
Wall Street Survivor is a free, single-player game that offers a virtual stock trading experience and educational content on various investment topics. Investopedia Simulator is a paid game ($15 per month) that allows for diversification, short selling, and options trading. MarketWatch Virtual Stock Exchange is another free, single-player game that lets you track stocks, ETFs, and mutual funds and compare your portfolio with others. StocksCafe is a free platform that provides a virtual trading experience with real-time market data and allows you to track your portfolio and practice investment strategies. Most of these platforms can be played as single-player or multi-player and some have mobile app versions.