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Friday, February 7, 2014

7 Steps To A Successful Investment Journey

Yogi Berra was one of the greatest catchers in the history of baseball. He was also a successful coach and manager – mainly associated with the New York Yankees. He dropped out of school after the 8th grade, and was known for his garbled quotes. Here are a couple of examples:

  • "I didn't really say everything I said."
  • "You've got to be very careful if you don't know where you're going, because you might not get there."

The second quote is required reading for most small investors who enter the stock market without necessary preparation. The same people who spend time and energy in researching and analysing cell phones, TVs, washing machines before buying them think nothing about spending thousands on a stock based on a tip from a friend or a TV ‘expert’.

To quote Yogi Berra again: “You can observe a lot just by watching.” Find out how well-known successful investors have made money – what works and what doesn’t work in the stock market. Successful investing has to be a well though-out strategy based on clear goals, plans and time frames.

Here is an article from investopedia.com that will show you the way:

http://www.investopedia.com/articles/basics/06/sevensteps.asp?

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