Selection of stocks...contd
- Look for companies that take calculated risks. For example, Apple first introduced its iPhone then after 2 years introduced the iPad, and after 2 years introduced the Apple Watch. This shows that Apple didn't introduce all products at once and gambled on a low-risk strategy.
- Always make sure to calculate a company's fair value. Don't buy at a high price. Wait for a correction in the price before investing. Set an alert: every time the stock falls by 5%, you will invest X amount.
- Find a company that has a strong competitive advantage (it can be a patent, certain technology, networks, etc).
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Before you invest in the stock market, it's important to have a solid plan and be disciplined in your approach. By being disciplined, you'll be more likely to stick to your plan and make smart investment choices. Here are a few tips to help you get started:
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