BishMarden974
I am a fan of Warren Buffett- although not always. Sometimes it appears like his investment tips are out of touch and just when I wish to consider him being an old bag who isn't investing using the times - he pulls out a 1 two punch and shows everyone the right way to build wealth.
Besides, he's a yearly shareholder report that makes me laugh every time, company, I'm a shareholder. But it doesn't matter for those who have invested in Berkshire Hathaway or not, here are some of the best investing tips that are a part of my do-it-yourself financial plan program:
1. Understand what you have. Some people take that as well literally. Mr. Buffett didn't have an idea about technology until he met Mr. Gates and now he is a large tech fan. Word to the wise- whenever you don't know, partner with someone who does.
2. Don't buy when other people are buying. So difficult to do but very rewarding when done.
3. Buy when everyone else is selling. This crash was the latest big chance to buy more. Have you?
4. Buy value. He doesn't ever buy on the hunch that a clients are going to grow. He buys stock in firms that curently have lots of value but aren't priced high to mirror that value.
5. Stay liquid. For those who have all of your chips in, you can't make anymore bets, and also you can't take advantage of opportunities as they show up. Keep cash open to invest.
6. Don't get swayed by the next "potential" Apple. Growth and fame does not necessarily mean profit.
7. Be considered a long term player. While you may experience lower returns compared to overall market, if you believe in your positions and stick it out you will find consistent positive returns on the longer time.
