Whenever making a decision in life, I cannot stress how important it is to do your own homework. This goes for anything in life which has a high risk of failure. You do not want to be the victim, simply by not doing your own homework before making a decision; especially when it comes to money. Without doing your own homework, there is only one person really to blame; yourself. This especially holds true if you are thinking about ever investing money in the stock or housing market?
Take this for example: You see an acquaintance from high school at the shopping mall. You have not seen him for over 10 years and he comes up to you and you start talking. He continues to talk about how he is a stock broker and would love to make you money. He introduces to you the latest project he is working on; a gold company based in
What should you look for in this example with the stock broker?
- Where do you know him/her
- How long has he been a stock broker
- What firm does he/she work for
- Research the stock he is promoting and make the calls
- Ask advice from friends or people who know the stock market
- Are you going to lose sleep over this if you lose money
- Do you have extra money to play around with
- Make sure you understand how the stock market works
- Lastly, make sure you believe in the company or product the stock broker is promoting
I can recall a few times in my life where people I did not know well at all, told me about projects he/she was working on or investments which will make me rich. A few times I did my homework and there were a few times where I got literally screwed because I was lazy and did not bother to do my homework and took their advice.
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