Below is my advice to anyone looking to invest long term in stocks. I’ve added a link for a recent BBC article on Tesla’s stock performance that should provide some motivation.
1) Understand how stocks work, (dividends, stock splits, realised/unrealised gain or loss) 2) Find a platform that works well for you (simplicity, commission free). Some investment accounts are also tax free. 3) Invest in shares. Stay away from any form of derivative products (ie. options, CFDs). 4) Pick a stock by seeing what people are talking about and do research into the company, to a level where you would be comfortable delivering a presentation about it. 5) Ask yourself if you believe in the company’s vision (is it working towards future innovation, is it creating value that is being recognised?) - Maybe avoid buying Coca Cola or IBM stocks as these are not growth stocks. You want the capital to work to its best efficiency. 6) Be committed - you must have the temperament to withstand volatility along the way. It’s a rollercoaster ride. 7) Buy up any dips (price declines). Only invest the money you’re willing to tie up and not use in the next 5+ years. 8) “Diversification is a protection from ignorance” - Warren Buffett.
Position: 100% in Palantir.
Submitted January 01, 2021 at 07:04PM by DawudM https://ift.tt/3b1AWFc
