Wednesday, April 12, 2006

Investor: Educate Thyself!

I was listening to the April 6 Jim Cramer's Radio podcast last night and he was bemoaning the lack of investor education in America. Cramer referenced a study unveiled at the Federal Reserve by the Merrill Lynch Foundation which showed that the nation's high school seniors don't know much about personal finance.

Of the students surveyed, only 14 percent said stocks were likely to have higher returns, just 23 percent realized that interest on savings accounts may be taxable and only 40 percent understood that they could lose their health insurance if their parents became jobless. And I thought I had a lot to learn about personal finance.

Well, for those who want investor education the Internet provides all kinds of places to get it. One of the latest ways I've come across is OpenCourseWare from the Massachusetts Institute of Technology. Any person can take a course for free (without credit) including courses from the Sloan School of Management, MIT's business school.

Trip, at MusingMoney is taking Investments 15.433 and I think I'm going to join him (many thanks for pointing this out). Maybe we should get a usergroup going so we can set up our own classes on this thing. Anyone else in? Let me know in the comments below.