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Episode 65: You Need To Ask Yourself These Four Questions Before You Make Your First Investment
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Hello everyone! I've been getting so many questions about which stocks to pick and the research you need to do and I promise it's more intuitive than you can imagine. Though the stock market indeed does consist of many charts, graphs, and intimidating terminology to help determine whether a stock is worth investing in or not, there are also a number of questions that you can absolutely answer yourself. In fact, I recommend these questions before you even delve into facts and figures. Much of my inspiration and what I use comes from Invested By Danielle Town and I HIGHLY recommend her book. Stay amazing, fabulous and I can't wait to hear about your investing success stories!
Questions That You MUST Say Yes To Before You Purchase a Stock:
1) What do you like to go shopping?
I recommend writing a list of five companies you actively make purchases in.
2) Do you see other people buying where you shop?
Is the store/product/entity popular? Do you see people buying it? Is it something you friends are into? If the answer is yes, it's definitely worth purchasing.
3) Do you see the company around in at least five years?
How does the company look? Are storefronts cute and forward thinking or are they busted and decrepit? Do you see a decline in where people shop? Is the company a necessity?
4) What's the buzz surrounding the company?/Is it positive or negative?
What have you heard about the company? Are they releasing a new product? Has there been any high-profile endorsements? Did someone in leadership say something shady? This is what research looks like for the company of interest.
Ya'll there are more factors in determining whether a stock is worth investing in or not, but these are the fundamentals. Know this and you're already there! Practice these and you'll be a whiz in investing. Stay fabulous and amazing and I can't wait to see you all soon.
Resources:
https://www.amazon.com/Invested-Warren-Buffett-Charlie-Emotions/dp/B0797GF85V/ref=sr_1_1?crid=2XPJXY1UZ9B3J&dchild=1&keywords=invested+by+danielle+town+and+phil+town&qid=1587615253&sprefix=danielle+town%2Caps%2C135&sr=8-1
https://podcasts.apple.com/us/podcast/episode-63-so-stock-market-talk-isnt-modern-day-hieroglyphics/id1390022492?i=1000470974954
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@stacksnthecity
Music:
bensound.com
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