“Investment is most intelligent when it is most businesslike”
~ Benjamin Graham
The idea of investing should be and is very different depending on your perspective and on your goals outlined in a proper Comprehensive Financial Plan and Investment Policy Statement (IPS). There are many techniques and methods for developing an investment plan.
Some investors fashion themselves as “value” investors, others “growth” investors. Still others would call themselves “traders” – trend traders, momentum traders or day traders being a few varieties of that.
Various investors follow different kinds of portfolio management strategies. For supplemental reading, consider the the following pages which explain a few money management strategies to consider – perhaps one or more match your personality type:
If you are interested in building what many experts would consider a value portfolio, then you could reference Value Line for example (one of Warren Buffet’s favorite resources), Growth investors could follow William O’Neill’s strategy made famous in his book How to Make Money in Stocks or in his daily investing newspaper Investors Business Daily. Traders could study books by Michael Covel for example.
In regards to work ethic and managing your own money, I don’t buy the BS of people doing 2 hours a week of research. If you want to make big money, you’ll be doing a lot more research than that. And even if you have a stable portfolio, the timing of purchases & sales and following over 50 -100 companies or markets (to get the 8-10 you should be in now) is also A LOT of work. Bottom line, using a professional in investing, albeit a good one, will likely make a big difference in the amount of free time you enjoy!
For further research on types of investments, here are some other pages on our site to explore some asset types:
Final Note: As mentioned on the Retirement Income page, for those who are not mega-millionaires and who are near or at retirement, it is very important to construct an income floor (see “Floor plus Upside Page” HERE), a secure retirement income stream before risking your capital, in my opinion. Do not risk your security trying to ‘hit it big.”
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