Well I'm only 14, but I'm researching investments and stocks. I've asked several different sources, and I've been recommended to try an "ETF" for my age, and amount of money.
My question is this: What exactly, in simple terms, is an Exchange Traded Fund? What I'm thinking right now from what I've read is a fund I provide a broker for a certain market, who in turns diversifies my money into that market, giving me a much more stable return.
Is that right, or am I just way wrong here?
Thanks for the help!