I recently had a chat with friends on investing in the stock market. It was so interesting as I preached the markets gospel, something many people dread thanks to the reputation created by stock brokers.
Here are my top 5 to do activities before you dive in:
– Educate yourself. Read a book, I recommend the intelligent investor, but there are a couple of good books on investment. Because you must be knowledgeable about the business you’re in, educate yourself on how the markets work, what makes a company a good investment or otherwise.
– Develop investment goals. After acquiring basic knowledge of the markets, it is vital to write down what you hope to gain financially by investing in the stock market. Be as rational as possible when doing this.
– At this point, it is important to visit a professional investment advisor. This will help get out of the cloud and develop a more realistic investment strategy.
– Get a good brokerage firm to do your biding. Usually, your advisor will help point you in the right direction on this aspect.
– Get into the markets with your strategy, keep adjusting it incase certain fundamentals change. The most important rule is to know why you are investing in a particular company.
Happy investing!
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