As we come to the year-end, many people are planning for many things that they will do next year. Maybe one of them is to become an investor. Note that investing is not just rushing and setting up a business and wishing to multiply money but it is a calculated move based on informed decision. Before you set up that new business or even invest in stock take note of the following:
- Make a preparation through education, building mental models and continual improvement
- Follow your instinct, do not follow the herd, the herd will only do average
- Calculate the value before looking at the price
- Consider opportunity cost
- Do not rush for any opportunity but wait for the right opportunities
- Be decisive in your actions
- Measure the risk, if possible avoid it. You can have a margin of safety and limit the downside
- Acknowledge what you don’t know. Be ready to learn from others.
You can also read: Common Investing Mistakes you should avoid.
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