Don McCobb is a retired international oil executive and CPA currently promoting Online Money Making Opportunities. His blog, http://marketingourvisions.com, is full of interesting ideas on making money online and other stuff. His website is http://www.workingforourfuture.com.
Most of the time when I write about making money online, I am writing about internet marketing. However, you can sit at home and invest in stocks online also. Here are some guidelines to follow if you are going to invest in stocks online. By the way these guide lines are based on the teachings of Warren Buffet so listen up.
These guidelines are very simple. Do not let so called experts tell you differently. Investing in stocks is not complicated, and you do not need great expertise. Instead learn how to assess the fundamentals and financial value of a business yourself, and invest based on your own convictions.
Secondly, you will need an online broker. I recommend Scottrade. I do not have a stake in them, but they are efficient and the least expensive online broker around.
Ignoring Convention:
• Do not put your eggs in many baskets.
• Do not place small amounts in any basket.
• Do not buy and sell frequently.
• Do not be afraid to hold cash.
• Do not rely on outside analysis or other's opinions.
• Do not follow the crowd.
• Do not watch the market intently.
• Have fixed investment principles.
Contrarian Principles
Accordingly to Buffett the conventional approach makes it difficult to do better than the market and very easy to do worse. Increase the odds of finding winning stocks by following Buffett's contrarian principles.
• Invest in no more that five to ten different stocks.
• Only invest when you expect to hold your investment forever.
• Only invest when you can find something worth buying.
• Do your own research - and do it thoroughly.
• Always have sound, well-argued, well-researched reasons for your investments.
• Ignore the market, the crowd and its fashions.
Follow these simple ideas and principles and you will increase your chances of buying winning stocks that will give you long term growth and solid income in this aspect of your money making online program.
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