9 Mistakes Stock Market Beginners Make (Updated)
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In this video I give you guys an updated version of 9 mistakes that beginners make when investing in the stock market. The market has changed a lot in the past few months, so i figured I would give you guys an updated version of some of the big mistakes
Buying the hot tech stock is the #1 problem I see with beginners in the stock market right now. Just because a stock is being talked about a lot for its massive gains does not mean that those gains will continue, or that the stock is a good company to invest in.
Speculating too early on in your investing career. This is terrible because whether you are right or wrong, you are essentially ‘betting’ on a stock value to go up in the short term. That is not a strategy of a good investor.
Overconfidence over the past 6 months has probably developed some very bad investors. Did you bet on any tech stock in January of 2017? You probably had a great return. Hopefully you realize that a 30% growth in one sector is very unsustainable.
Not diversifying is the most common mistake by millennial investors. The top 10 stocks owned by millennials are are online or technology companies. Hopefully there isn’t a bubble forming.
Buying on margin is a trend that I have seen lately. This leads back to the overconfidence part of this list. Having too much confidence can lead you to over leveraging yourself and potentially lead to massive losses.
Buying into too many companies that have little to no profits may prove to be detrimental to your portfolio. Companies that dont turn profits within a few years tend to go out of business.
Wanting quick gains at the expense of long-term sound investing is one of the reasons why most people in this market will fail.
Thinking that a long time ‘loser’ stock like Blackberry will rebound is another rookie mistake. You may think you are getting the stock at a ‘discount’ and you have a ‘gut feel’ that it will rebound, but usually there is a good reason why the company hasn’t succeeded in the past 5 years so why wouldn’t that trend continue?
Checking your stocks everyday will just stress you out. Whether you have gains of 1% or losses of 1%, it doesn’t matter. Just buy and hold, then buy more. That is how you become a fantastic investor.
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