If you’re new to investing, don’t trust the “gurus.”

by christmaws

My friends – as a beginner who has recently started making (a little bit more serious) efforts into learning how to invest and trading, let me share some findings with you.

  1. DO NOT LISTEN TO PEOPLE LIKE STEVEN DUX. Every person in the financial industry has an objective one way or another. Why do you think they keep playing up the fact that they’re rich but ask you to participate in their courses or “learn their secrets” for a couple thousands of your hard-earned cash? Because they want to take advantage of your inexperience and sell you something that seems grand but is usually something that you can Google or learn easily on your own. There are no “industry trade secrets” in investing; if there were, a lot more people like these ones offering you such “secrets” would be billionaires and wouldn’t bother trying to “teach” you something that you don’t know.

  1. Take information from a variety of resources. Don’t take anyone’s offer in selecting “stocks” for you that will make you rich overnight. These are tremendous red flags because investments are a deeply personal choice. You invest in companies that you believe in and that YOU think will do well. If all he/she does is offer you a plan that is obscure in where you’re putting your money or promises instant wealth with “unicorn” companies, they will run with your money. Do your research, learn basic financial concepts from places like Investopedia, and find companies that you truly think will stand the test of time and will grow. Think about it: would you want to throw all your funds at “tried and tested” companies like Exxon because some investment guru said it’s the best choice (but you personally disagree with or think is going to fail in the future), or invest in a company like Patagonia (ethically respectable, well-known, and trusted) or Google (world-renowned and used, not the best ethically but you know that no one’s going to give up their search engine in a long, long time) that you trust for the medium-long term?

TL;DR: Make your own decisions and learn things for yourself one step at a time instead of placing your trust and funds into the hands of another. It’ll pay off in the long run, I guarantee it.

 

 

Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence or consult your financial professional before making any investment decision.