3 Keys to Successful Investing
If you are following this blog for the past 3 years, you can still remember how I turned my 300k stock portfolios into 1M pesos thru trading, this time I'm concentrating on long term or value investing. My goal is to turn 250k into 1M thru value investing.
I'm hitting the 300k marks this month. Nothing special on this strategy but I want to share 3 keys to successful investing.
Here are the 3 keys;
First, Pick your favourite industry. " Don't invest on something that you don't understand " - Warren Buffet. If you have an expertise on a specific field, for ex: banking, then analyze the outlook of that specific industry and pick the right stock.
Second, Know the true value of the company. You don't buy a stock without knowing a target price or fair value, it should be always undervalued before you buy it. Making a mistakes on entry point will hold you in prison.
Third, Patience. When I said long term, at least 3 years not a day, a week or a year. If you have a heart problems better not to open your stock portfolios everyday. Stock market will test your patience.
I'm looking forward to your investing success.
Jonathan Ruiz CPA,MIB
P.S. If you want to know more about my strategy please sign up for free on this link; http://eepurl.com/Wyazv .