New Haven, Conn. (WTNH) – Vincent Esposito from Sungarden Investment has tips for first time investors.
1. Do your research
2. Know the company you are buying into
3. Don’t always follow the crowd
4. Prepare for ups and downs
Successful investing often means doing what is unpopular. Warren Buffett said it best “be greedy when others are fearful and fearful when others are greedy.”
“What everyone else knows isn’t worth knowing.” People are always asking me if they should buy or sell a stock because of a single news item that everyone knows. Develop your own investment process and follow that. Ignore the headlines. By the time it’s in the newspaper or a magazine everyone already knows about it.
You have to do what’s right for you risk tolerance, goals and aspirations. Everyone’s different. If your really confused, seek out a trusted advisor to help you develop a strategy that’ right for you.