Investors are like fine wine, they get better with time. A successful investor not only invests his money but also his time and efforts to know the ins & outs of any dynamic market. The trial & error are a part and parcel of this journey. The most successful investors have also failed at some point in time; learn from your mistakes and the failures will only make you stronger.
Investors Who Made It Big:
John ‘Jack’ Bogle
The founder of The Vanguard Group; with his idea about index mutual funds, he made his company the second largest mutual fund company. Bogle’s investing style was simple and he believed in using past performance only to determine consistency & risk.
Regarded as the most successful investor in the world, Buffet started with a small amount of $174,000, which he now has turned into around $50 billion. Buffet’s investment style is to invest in only what he knows best. He has often been criticised for avoiding tech companies but he wants to stick to what he understands.
Fisher is the father of investing in growth stocks. During his 70-year career, he focused on long-term investments and achieved excellent returns for himself as well as his clients.
A teacher and mentor to Warren Buffet, Graham used financial analysis to successfully invest in stocks, due to which he made a lot of money for himself as well as his clients. He also stressed on having a margin of safety in one’s investments.
The ‘King of Bonds’, Bill Gross is the founder of PIMCO, and he and his team have over $600 billion asset under management in fixed-income investments. He believes that a long-term successful investment stands on two pillars – the ability to analyse & articulate a long-term outlook and having the correct composition within one’s portfolio over time to leverage this outlook.
The creator of modern mutual funds, he also realised the value of diversification way before most of the top investors did. With his personal experiences he learnt that while some investments will fail, the others will gain.
There is a lot that can be learnt from these veterans of investing. For any young or a new investor, it is highly important to know themselves first. They should identify personality traits that can assist them or prevent them from investing successfully, and manage them accordingly. The most successful investors always planned their journey in advance. It is recommended for you to define your goals, objectives, and plan accordingly. Educating yourself is also crucial if you wish to be a successful investor. Know what works in the market and how it operates. And ultimately, combine all your knowledge and resources and identify a route that suits your investment style & objectives.
The key to becoming a successful investor is to start early. The youngsters are in a prime position to enter the investing world. Young investors have the advantage of time, and the opportunities to make riskier moves. When youngsters start investing their money, their spending habits improve as they focus on their budget and cut unnecessary expenses. They also benefit from the power of compounding Compound interest is the interest earned on reinvesting.
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