10 Investment Tips for Beginners: #8. Don’t fall for “hot stock tips”.
Posted on | April 16, 2009 |
Here are 2 reasons hot stock tips are always bogus:
1. If the person giving you the hot tip really knew anything, they’d be guilty of insider trading for telling you - it’s illegal!
2. If the hot tip wasn’t some secret information about a specific stock, but a “system” to get rich in stocks, then the system would stop working when more people started using it.
The way to true wealth in the stock market is hard work, either by researching, practicing and learning to become a serious investor (think Warren Buffet) or by starting your own company and eventually going public and selling shares in the stock market (think Bill Gates). Everything else is largely a scam.
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January 18th, 2010 @ 3:54 am
It is great. But I believe that for beginner in investment, it is important to make a study by themselves, instead of collecting the information, try to have a paper trade session before enrolling in the real trade.
February 24th, 2010 @ 1:49 pm
[...] The Media 5 Don’t Tune Out Too Much 6 Pay Attention To Risk 7 Don’t Avoid Reality 8 Don’t Fall For Hot Stock Tips 9 Don’t Try To Time The Market 10 Try Before You [...]