Some lessons I’ve learned in 20 years of investing.

by ScotchBrandyBourbon

I’m not some type of uber investor. But here are some lessons I’ve learned.

  1. Don’t try to time the market. You will lose much more then you win.
  2. Stick with great companies. Don’t be afraid to ride winners.
  3. Many times the best thing to do is nothing.
  4. Don’t be afraid of being highly concentrated in certain stocks/sectors. Do your research and monitor more closely if you are highly concentrated.
  5. Don’t chase fads. Pets.com. Bitcoin. Weed. If you are in it for the long term you won’t have to make such risky bets.
  6. Be aware of taxes. Use Roth accounts, HSA, 401k, ect. Try to avoid short-term gains as much as possible.

 

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