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What are some good tips for a young investor.? |
What are some good tips for a young investor.? If you have a mentor such as a parent, relative, guardian, parent of a friend or teacher who trades or has investment properties, ask him/her to show you what he/she does and how he/she does it. Take it slow. Know what you're doing. Don't look for get rich quick schemes. READ ... read all you can... learn from others... read www.Minyanville.com , read www.SeekingAlpha.com . When others are fearful you should get greedy; when others are greedy you get fearful. When a stock sounds like a good buy it's probably too late to invest in it. Read, Read, Read , Read, soak up as much information as you can, this is a very complicated business and there is a lot to learn, the more comfortable you are with all there is too know the better decision you will make. You should check out www.thewallstreethunter.com they have some pretty good articles on there for beginners and also have a pretty good track record for picking stocks. Learn as much as you can about investing, always have an emergency fund, and not to go too conservative with your investments as to keep up with inflation. Max out a Roth IRA and contribute to your employer sponsored retirement plan enough to get the company match. Good luck. (Put time on your side, start investing tomorrow!) Learn! Focus on fundamental analysis (how to read financial statements), and understand that the objective is to find mis-priced stocks, not "good" stocks. D |
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