April 30th, 2008 by The Eager Investor
Call me a true noviceâ¦ I am ashamed to admit that I have let retirement money sit unattended and unmonitored for far too long!Â WELL NO LONGER!Â I just read this great book by Phil Town (Rule #1) who makes investing in the stock market seem much more approachable and real for a novice like myself.Â
Honestly, I have fears of the stock market.Â Investing in real estate and businesses comes pretty easily to me now, but, when I look at those numbers that seem to go up and down so radically, I truly get scared to invest.Â
This book, Rule #1, has put my mind to rest.Â I am sitting in front of my computer with poster paper tacked up all around me with tips and elements to investing that are helping me move toward competence in the stock market.Â
So, Iâm starting this blog to keep me honestâ¦ keep me moving toward excellence in investing.Â Any thoughts and assistance from anyone out there whether new or experienced at investing will be greatly appreciated and shared with all of you. Â
Iâll leave you with one of the sets of ârulesâ given by Phil Town in his book that I find helpful in looking for companies to invest in on the stock market.
Rule #1 Investing is:
- Finding a wonderful businessâone that you are proud to own and you want to own for a long time and that you understand
- Knowing what that business is worthâusing math and specific numbers to scientifically understand its value
- Buying this business on saleâPhil Town tells us to look for companies that are 50% offâ¦
- Repeat this for all investments
I like this methodology because of the first itemâ¦ invest in what I believe in!Â Itâs important that every venue I make money in allows the community and myself to do wellâa win/win situation.
Have a wonderful & prosperous day!Â
To make sure Iâm constantly doing what I should be in business and investing I say this prayer (invocation, meditation whatever you may call it) daily:âO my God, I ask Thee by Thy most glorious Name to aid me in that which will cause the affairs of Thy servants to prosper, and Thy cities to flourish.Â Thou indeed, hast power over all things!â ~Bahaâuâllah (Epistle to the Son of the Wolf, pg. 61)
If you enjoyed this post, make sure you subscribe to my RSS feed!
This entry was posted on Wednesday, April 30th, 2008 at 9:14 am and is filed under 401(k), Investing, Stocks. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.