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Smart Thinking On Investing – June 25

Smart Thinking On Investing – June 25    

This week in Smart Thinking I found an article on a great role model; Hetty Green, the first woman to invest on Wall Street—learn more about her from Amanda Leek at Telegraph Money. The Motley Fool’s Sean Williams advises us how to lose our money on the stock market. And Christina Lavingia, a writer for Forbes Investing, looks at the influence podcasts has on millennials and investing.

Morgan Housel, also from The Motley Fool, shares his peer’s financial advice for new graduates—I chose the ones that stood out to me. And Susie Poppick of CNBC uncovers three advantages millennial investors have over the rest of us…


“There is no Great Secret in Fortune-Making… 

 

  • …all you do is buy cheap and sell dear,” Hetty’s words to live by
  • Hailed as the Warren Buffett of her time, her strategies for investing were long-term thinking, unemotional decision making, and thorough research into the stocks she was considering
  • Thanks to her shrewd financial thinking, she eventually died as the richest woman in the world and more successful than male bankers of her time

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Lose Money in the Stock Market

 

  • Try to time the market—always a winner when it comes to losing money—it’s virtually impossible to achieve so watch those returns disappear
  • Short-sell a stock (by betting against it) or buy penny stocks—it’s difficult to make money on the first if you don’t understand the risks and the second are cheap for a reason
  • Concentrate your funds on just a single stock or industry and refuse to sell out pride or stubbornness; these are also surefire ways of risking losses

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The Positive and Negative of Millennial Attention Spans

 

  • Attention spans are shortening, and people lack focus on tasks in front of them
  • Information is coming in so many new forms from all around us, so though attention is shorter, multitasking abilities are increasing
  • Podcasts condense information into perfectly sized chunks: an excellent format for financial education to come in
  • Improving the investing know-how of the up-and-coming generation more than the last

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“Simple Almost Always Beats Complex”

 

  • Craig Shapiro, Collaborative Fund:It’s not a race. It’s a marathon.” Think long-term and pace yourself
  • James Osborne, Bason Asset Management: “Live on less. Have more.” Not easy words to live by but the best ones for your financial future
  • Michael Kitces, Kitces.com:Your Best Investment Is Yourself.” Succinctly true. You have it in yourself to be a success or a failure, and only you control the outcome

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Ending on a Positive Note

 

  • Millennials are investing in a time when the average fees are lowering and free stock trading is expanding internationally
  • Boring to hear repeatedly, but a Millennial’s greatest asset is time—if used wisely and they invest now
  • Millennials are receiving more of a financial education than previous generations; either as they’ve grown up or they’re seeking it out for themselves

Do you listen to a good financial podcast? Share your favourites in the comments section below

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Do you want to start investing on your own, but don’t know how?

Check this out!

 

Anything you would like to discuss about Smart Thinking On Investing? Do you have any articles you would like me to cover? Feel free to add it below. Let’s start a discussion in the comments section!

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DISCLAIMER: This content is for information purposes only. It is not intended to be investment advice. Readers should not consider statements made by the author(s) as formal recommendations and should consult their financial advisor before making any investment decisions. While the information provided is believed to be accurate, it may include errors or inaccuracies. The author(s) cannot be held liable for any actions taken as a result of reading this article. Andrew Stotz doesn’t necessarily endorse any stocks or shares mentioned in the articles or the author of such articles linked to and summarized in Smart Thinking On Investing and cannot guarantee the accuracy of its information.

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