when you say control your emotions you should have worn vulcan ears ;) Live long and prosper FreedomForceUSA! :)
You need to do a video with your out takes......lol would be funny. Thanks for sharing
I love it,Straight to the point with excellent advice. I'm Investing what you said you wouldn't do,Which doesn't mean it won't work but it's to high of a risk for you.
Easier said than done. Im sure others have made videos on investing and had similar advice. I think investing is basically luck. It's better to have good luck than bad luck. I personally I'm not a risk taker where investing is concerned. I like to play it safe and maybe because of this I might have less money than jo blow who invests heavily. But let me tell you whatever I have is real, I am not living in absolute fear worrying about my investments going drastically up or down. Joe Blow may have 10 or 100 times as much money than me but he is taking a risk, living life on the edge, because if his investments crash he will be in the poor house. I'd rather see the glass half emplty than totally empty or full.
So my best advice for those watching this video is don't invest your hard earned money especially in the stock market, don't put it in the bank because it's going to pay you little interest and money is depreciating in value. Instead buy hard assets like houses, land etc. Yes those investments can go down but they are real things you own rather than some piece of paper someone prints saying that this stock is worth so and so. Its gobblygob to me.
What may seem obvious now probably isn't so obvious when you're 20. All five tips seem obvious to me now. There are no get rich quick investments. Every hot trend reverts to the mean. Investors are often their own worst enemy letting their emotions make bad investment decisions like jumping in and out of stocks, bonds, or even PM's.
Great video! It is a lot of fun to look back at people analyzing PM charts from a few years back...falling wedge this, right should that, blah, blah. You are so right, like people, markets are irrational, thus every analyst video you look at analyzing charts from a few years back was wrong, lol. But there are still people today that truly believe in them.
Invest in businesses and cash producing assets. Otherwise, you are wasting money.
i really like your last tip. so you said people do not invest much enough because of rainy days. so you are saying that we should not be so worried about future and have some kind of savings to anticipate bad things? Also, if i reinvest my dividends in gold, do you think this strategy is as good as if i reinvest it in that particular stock?
i really like the way this guy thinks
One of my recent equity purchases popped up 9 percent a day ago; overall 18% in 2-3 weeks. Man I wish that it was a larger investment. But you are spot on about not going all into one investment. People can slam Jim Cramer as much as they want but he said it best about investment diversity being a free lunch.
Thanks Ive just read intelligent Investor, id not read it cause its so old, great advise
Best to get an emergency fund set up before you invest even 1 penny. You don't want to be selling when the market is down because you need cash in a hurry.
or just buy gold....... wait.
Also, i would read your book if you were serious about that lol.
Great video. I took notes, but what did you mean by being consistent? For example adding money to your investments on a routine basis? Also who would be able to answer questions about taxes on investments?
First!!......Tips for getting rich???......mortgage your house, max out your wife's credit cards ( like the snipper did).....buy all physical silver!!!!!....
This investment advice brought to you by the Youtube Semi-Professional Investors Association...
" Don't wait until you are 40 or 50 "......Thanks Ed, where were you back when I was young?.....I lived for the moment back then. If I had invested even back in the early 90's I would be really wealthy right now.