Top tips to invest like a pro

Top tips to invest like a pro
News from Herald Sun:

There are several steps to becoming a successful investor Source: National Features

WE READ about and talk to lots of great investors. These are the professionals who live and breathe the markets.

Their life is based around researching and chasing the best deals to make money.

These professionals come in all shapes and sizes and don’t necessarily walk around the CBD in a pinstripe suit. We have a few ordinary looking young blokes living down the street from us who have made day trading the share market their full-time job.

Of all the professional investors we’ve followed, these are the best tips we’ve gleaned.

* Make sure you’re investing at the best price as this makes the investment safer in the long run. It sounds pretty obvious, but we’re always surprised how many people invest without first researching the price track record of the asset they’re buying or the price of similar comparable alternatives.

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Golden rules of investing in stock market
News from Daily Mirror:

The stock market can be an excellent place to invest over the long term to create wealth. But in order to reap the benefits of investing in the stock market, investors should learn as much as possible about the market, before investing. Whether you are a new investor or have been investing in the stock market for a while, the following should help you to succeed in the market.

A retail investor is typically the last one to know of tips. Hence, he is most likely to invest when the stock has already run up and hence, at a risk to lose money. Try and get research reports from reputed brokers. Learn to read balance sheets and understand the industry the company operates in. Ignore hype and most importantly, do not depend on ‘market tips’ your friends always give.

  • Don’t invest in a company you don’t understand

Famed investor Warren Buffett often discusses the concept of a ‘circle of competence’. This circle of competence consists of all the businesses with which the investor is familiar with and thoroughly understands.
An investor who has spent the last ten years as a checker at a supermarket would have an advantage when analyzing the financial statements of a grocery store chain. He or she would be able to pinpoint the strengths and weaknesses of the business, evaluate the competitive climate of the industry and compare the performance…………… continues on Daily Mirror

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Tips and Traps When Selling a Home

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