Road to successful investor
Article written by Sherin Dev; Follow me in Twitter or Facebook . To get latest news and articles Subscribe for free!
Those who are interested to invest and build a personal financial plan for life have a goal in mind. Be a successful investor. Especially, if you know about legend investors, your mind will tempt to follow the methods and the road they selected to there success. That is a good idea but, there are some factors and homework an investor must do himself to be a successful investor in life. This article pointing out some must required actions. Read the entire article below:
Read, read, read
Consider to read maximum. Reading great books, articles and newsletters will give you enough knowledge to select the right path at tight time. Not only that but, it will also give you enough knowledge on various aspects on investment instrument selections and valuations. A successful investor should spend enough time to find and read most useful books and articles to gain all required knowledge.
Acquire knowledge on available products to invest
Investment world is not small with one or two products. It is very vast and the success of an investor laying on the selection and combination of these products at the right time. To have a successful financial plan, an investor should aware about the advantages and disadvantages of all the investment products around him. He should be able to identify the right one and compare the same with all other similar products available in the market to identify the winner or the loser. A successful investor not only should have good knowledge about the products he deals with presently but, he should be able to understand and explain the features of various products available around him.
Watch business channels
Television especially business channels are necessary part to investors day to day life. This is a very good source to get updated information on latest trends and changes. I am not saying to believe and act as per what they are saying but, through business channels, an investor will get enough opportunity to identify best investment products to do own research to understand the investment suitability. Make this as a regular practice.
Usage of internet
Internet is the excellent source to get instant access to well written articles, valuable informations, real time data and other similar informations. Utilize the maximum and get enough knowledge about all the areas of investment practices.
Grouping and social networking sites
Social networking sites are a best source to share and take ideas. It is very helpful to identify whether your plan has any loopholes or chance of failure. You can also receive very good reviews on your ideas as well as winning ideas from experts who are also in the part of the group where you are in.
Don't believe everything blindly
A careful approach to the research reports and the words from self acting investment gurus required your own research and study to believe or avoid. Always have practical approach. Don’t believe anything without your own research. Research reports might have hidden traps to investors if blindly follow them. Through study and digging to the truth will help you to identify the fact and act as per that.
Chat with experts
Chat rooms are an excellent source to get real time informations from experience people. Care should be taken about the person in the other end and don’t blindly believe him without your own study on what they are suggesting or recommending.
Participate to events
Participating events related to the subject is a good idea to get helpful informations and knowledge. In my opinion, an investor should take the advantage from all the events happening around him. It can be an investor meets or an awareness section or a company general meeting. Whatever it is, participating to such events help an investor to meet people with similar thoughts as well as chance to contact experts. It is also helpful to clear any doubts and get prompt answer to your questions. It can also be used for building good friendships with other investors.
Passion on investing
This is the most important factor. Be passionate. Without passion, you can’t achieve anything. Learn from the real life of legend investors. They have enough passion to the profession and that lead them to great success. So be passionate or leave such profession immediately.
I am happy to know whether this article useful to you or not. If you feel that I have missed some important points, please comment and inform me. I will add the same as soon as possible because that will be a great help to those who are reading this post in the future.
Picture courtesy: atomicjeep
26 Creative Comments are Rare Specious. Try One::
A lot of this focuses on education, but one day you have to take the plunge yourself. Being educated helps, but don't make the mistake of waiting forever in fear that you don't know enough yet.
excellent comment. I agree with what you said.
Sherin - Iinternals
The advice sounds straighforward. I've recently begun my self-education on investing. Do you recommend any specific books or websites to read, in addition to your site?
Of course you have lots of good books available to read. Below are some awesome books...
1. Intelligent Investor (Benjamin Graham)
2. One up on wall street (peter Lynch)
These are 2 very good books each investor should read prior.
Sherin - Iinternals
Investing is risky. But hey there's always risk. When you want to learn how to bike there is still risk. All you need to do is practice and practice until the time you make it.
nice jobs, about investment.
I agree with what you said Mr. Rhy. Practice shape an investor properly like gold cleaning by fire. Thank you for your comment.
Also, thanks to Aliazix.
Sherin - Investinternals
Interesting comments,nice blog
thanks for you comment and visiting my blog.
Best wishes - Sherin from Iinternals
Interesting tips. Education takes time but I can just find and subcribe to some newsletter set up autotrading with my broker (with limits, money management, etc) and just watch everyday at my account... This is a way but I do not use it myself however.
A very helpful post. The tips really helps a lot especially "chat with the experts" a very good source of knowledge!
That is a fantastic comment from goldstock analyst as well as Chess addict. Thanks for visiting as well as giving such nice comments
Sherin - Investinternals
Superb post here, I take kindly to people who give out advice the way you so gracefully did here. I especially dug "chat with the experts". Very clean site. Keep it up.
Neat blog but one thing I would say is the following: investing is, of course, a serious business and I think there would be credibility in what you are saying if the grammar was tidied up.
Above 2 comments are the classic appreciation I have got. Thank you to all my visitors and wish you will visit the same again and again.
Sherin - Investinternals
Your advice sounds straightforward and very knowledgeable. I've recently begun focusing on my own investing. That is trying to find out as much as possible before jumping in. Do you recommend any specific books or websites? That would give me some extra knowledge along with your site?
Great advice for novice investors like me. Thanks.
Thanks you so much
Sherin
Good tips. Thanks for giving advice on what to look for.
Thanks Jeanine
Sherin
Thanks everybody,,,,
Actually I have an interest on investment but i don't have good knowledge about it..Is their anyway one who can give me a good advice about the knowledge required for successful investor,,. I wanna take a class but I'M in dillema which subjects to choose ,,I really don't know ... plz I wanna appriciate your great help...thank u
Bhupu, you should start from the beginning. First read more about what is stock and stock markets. Identify what is investing and different type of investing. Then read good books like "common stocks and uncommon profits" by Philip Phisher. If you reach the end of this book, you will certainly come to know what is investing and when, where to invest.
Digg more into this blog, especially select article posted under the label "Investment" there are lots of information for you.
Well thank you very much Sherin... so I should not need to do any MBA or DEGREE Programme to become a successful investor,,, or how about it if I continue or stop? What may be its advantages and disadvantages ? Will my MBA programmee have any relationship with investment? Is business and Investment are different? Please I appriciate your help Dear Mr. Sherin.
Bhupu, your question required a detailed clarification. To make your understanding better, I am in my workshop now for preparing an article on your comment as a honor to you. You can read the same as my next post in this blog. I have already prepared the same and some final touch up work going on to simplify the idea to the maximum. Such visitors like you are my real treasure. I am sure, my forthcoming post will have answers to your all doubts. I will even post the article link here upon posting the same to this blog. Appreciated!
As informed in previous comment, I have added an article based on your questions and doubts, which can be accessed here. http://www.investinternals.com/2009/10/roles-of-education-to-investment.html
That's brilliant. All the important advices being put together within a single content. Its been a great source of information for a beginner like me.
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