facebookBeginner investor here! With so many differing opinions and advice, how do i know which to listen to? - Seedly

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Anonymous

26 Feb 2020

Stocks

Beginner investor here! With so many differing opinions and advice, how do i know which to listen to?

How do you know if people are genuinely trying to help? Since there are so many schools of thought, how do you pick which one to follow?

Discussion (8)

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Jason Sing

26 Feb 2020

School Of Hard Knocks And Life at School Of Hard Knocks And Life

Generally I would listen to advices from people who are very experienced in investment. That is people who have been there and done that. It would even be better if these are the same group of people who genuinely care for us. That is people who are my family members and close friends. Unfortunately, this is often not the case. Hence we need to listen to people with experience and use trial and error, making mistakes in the process and thereby learning from our own mistakes.

It's difficult to know which investment strategy is most suitable for yourself without trying it out. Start off with a small amount with one or two strategies you are most interested in and build up your experience. Once you get started, you will naturally get a better idea of what will or will not work for yourself. Choose the investment strategy that you are most comfortable sticking with for the long term!

Alex Chua

26 Feb 2020

Seedly student Ambassador 2020/21 at Seedly

  1. Understanding yourself and your risk profile. This will help u to decide your investment style.
    This will decide your comfort level and hugely scope down your research profile.
    E.g controlling your stocks will make u lose sleep. Then I will recommend robo advisory and bonds. Nevertheless, confidence is something that you build over years. I have better time to spend on my daily life, less control, dividend or value investing. You have high risk appetite, growth stock and/ or trading

  2. After knowing yourself, you then create a plan to work towards. You then understand your needs and goals to work towards. This affect your portfolio.

  3. Prepare to lose money. This will be your tuition fee. But like Warren buffet say, rule 1 is don't lose money.
    Rule 2 :Remember rule 1
    Try out everything to better understand your style.

  4. Read more and engage more. Come seedly.sg and ask questions to speed up your learning avoid mundane investment mistakes.

Cheers

U can't learn by only listening to the opinion from online strangers. U can go to library pick up some books to read and understand yr investment style. Start small and improve along the way when you gain more experience

Yes, that's true, you could receive wrong advice certainly.

This can never be resolved.

A lot of u...

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