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Ebtisweetsam
03-02-2008, 12:31 PM
I am very curious about being involved in the stock market. I was just wondering if anyone has ever purchased shares, etc. and do you really make money this way?
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Cabdullahi
03-02-2008, 12:56 PM
Business women eh? mashallah,i dont know anything about shares or the socks market :)
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Ebtisweetsam
03-02-2008, 12:59 PM
Originally Posted by Ahmedjunior
Business women eh? mashallah,i dont know anything about shares or the socks market :)
Actually i was more interested in stock, rather than socks LOL.
Anyway, yeah y not?
Its very interesting because people say they make alot of money this way.
Im just wondering if its true or not....
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Whatsthepoint
03-02-2008, 12:59 PM
You can make money this way, Warren Buffet made billions.
You just have to be good at it.
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Ebtisweetsam
03-02-2008, 01:02 PM
Originally Posted by Whatsthepoint
You can make money this way, Warren Buffet made billions.
You just have to be good at it.
Yeah so did alot of other brainiacs and mathematicians.... but what about weak 'ol people like us folk?
Is it one of those 'too good to be true' things?
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Ebtisweetsam
03-02-2008, 01:04 PM
By the way if ur wondering, this lady got me thinking:
http://www.suzeorman.com/index.cfm
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Whatsthepoint
03-02-2008, 01:14 PM
Originally Posted by Ebtisweetsam
Yeah so did alot of other brainiacs and mathematicians.... but what about weak 'ol people like us folk?
Is it one of those 'too good to be true' things?
It's not. I mean, it's unlikely you'll make billions, but I'm sure you can make a living through it, if you are comitted.
What you have to do is pay attention to the stock market, see what goes up, what goes down, subscribe to financial magazines etc. I'd also recommend you to read books about stock exchange and all that, and don't get fulled by some Mrs Suzy's way to get rich in a week or so.
You have to invest in different companies and study them, so you will be able to predict when's the time to invest more - or withdraw.

What's the silamic ruling on stock exchange? There's a bit of gambling in it, you can deny that.
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crayon
03-02-2008, 01:18 PM
Participating in stock exchange is okay as long as you aren't buying shares in a haram company, such as one that sells alcohol or produces pork or something. I've heard (but don't quote me on this) that when you do buy stocks, it has to be an educated decision, else it will simply be gambling, like you said.

edit- "Question:
Many Muslims invest in stocks (stock market). The argument is that, since there are risks where one can lose or gain, that it constitutes doing business so long as one does not buy stocks on the margin or be involved in direct interest bearing investments. Please explain the limits of investing in the stock market or if it is forbidden and why?

Answer:

Praise be to Allaah.

There is nothing wrong with selling or buying shares if they are shares in permissible companies. If it is an agricultural company, for example, which produces permissible agricultural products, then it is permissible to buy and sell shares in it; the same applies to companies which deal in real estate, manufacturing, etc.

It is permissible to buy the shares of other people and pay them the price immediately, so that one will not be selling a loan for a loan.

Excluded from this are companies which deal in haraam things, such as selling alcohol, tobacco and music tapes. It is not permitted to have shares in these companies, or to buy these shares. If the company openly deals in ribaa (usury, interest), then it is not permissible to deal with it. but if a manufacturing, agricultural or business company is compelled to deposit its money with the bank in order to protect it from being lost or stolen, then it is permissible because of that necessity for the owners of the company to get rid of the interest which the bank gives them on their deposits. Companies should also avoid using riba-based loans in order to set up production lines and factories; that should be achieved by using cash and the money of the shareholders.

And Allaah is the source of strength."

source
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crayon
03-02-2008, 01:20 PM
Oooh, also, ebtisweetsam, there are dozens of fantasy stock exchange games on the internet. They could be good for practice before going for the real thing, if you like? Just to get the hang of the idea...:P
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Malaikah
03-02-2008, 01:21 PM
It's permissible as long as what you are investing in is permissible. (Not sure if other condition apply!)

It isn't gambling because you are actually buying something with that money, whereas with gambling you buy nothing at all. At least that's my (simplistic) understanding.
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qassy!
03-02-2008, 08:54 PM
Stock market is wicked, i really like it, I have invested some money in to the stock market and have quite abit of profit :)
You have to be good in the stock market read up on Wikipedia on how you can make alot of profit!
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