Today we will be talking about the number one mistake beginning investors make in the stock market. This stock market investment mistake is following the market, or buying high and selling low. We have a tendency to do this as many stock market beginners make emotional investing decisions.
WHY WE BUY HIGH:
1. We see others making money.
2. We like to celebrate with others.
3. We tend to follow the leader.
4. Wall Street pushes the market leaders.
5. Recent events carry more weight in our minds.
6. Overconfidence in ourselves or an analyst.
WHY WE SELL LOW:
1. Avoiding what appears to be more risk.
2. A loss is twice as painful as a win is joyful.
3. Wall Street pushes the market losers.
4. Recent events carry more weight in our minds.
5. Lack of confidence in our investments.
6. Other people are doing it.
7. We are impatient and want something new.
Buying high and selling low, or following the market, is a losing strategy for any stock market investor. This is the biggest mistake beginner investors in the stock market make and it is also the most common one. In the words of Warren Buffett, we should be greedy when others are fearful and fearful when others are greedy.
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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
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