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In today’s video, I go over the top 10 mistakes every new investor makes according to Warren Buffett. Buffett is one of the greatest investors of all time and has made and seen many mistakes which we can learn from. Any one of these mistakes can cost you a ton of money so make sure to watch till the end!
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#1 mistake is not investing in yourself.
The highest ROI you'll get is from investing in yourself. You want to invest in books, in your communication skills, your analytical skills, and anything else that will stay with you for the rest of your life and give you continuous returns.
#2 Constantly buying and selling stocks
Warren Buffett says if you owned a business that was doing well and profitable you wouldn't think about buying and selling it every day. That same way when you own a stock you own a part of a business, a very small one, but you own a part. If you think that a company has a great business, then just hold on to it. It's as simple as that. There will be ups and downs but if it's a good business it will do well in the next 5-10 years.
#3 Don't invest in cheap stocks and companies
Warren Buffett learned to find cheap stocks and buy massive quantities of it. He learned this from Benjamin Graham, another great investor. He learned over time that this is a mistake.
#4 Not investing enough into great stocks
The reason that Warren Buffett has been so successful and he's said this is because he buys good stocks on a massive scale right like putting most of his money into those stocks because he knows that you don't get too many opportunities like that in your life, maybe 10-20 at most so when that opportunity comes to you, you don't want to invest just a little bit into it, that's just as big of a mistake as not taking any action.
#5 Buying high, and selling low
Warren Buffett has lived by the fundamental principle of investing, which is to buy low and sell high, but so many people do the exact opposite of that. You might be wondering why? It's because investors are human and emotional.
#6 Day trading
Warren Buffett is not a fan of day trading. I have never personally been a fan of day trading or even done it because I knew how risky it is, but I know there are people out there that make tons of money from it, but trust me there are very very few people that actually profit from it.
Watch the video for rest of the mistakes! I promise it will be worth it!
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#investing #stocks #personalfinance #finance