Mature Life Features

Cecil Scaglione, Editor

Better to Look Stupid . . .

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. . . than be stupid when investing.

Betting on the Super Bowl is easier than gambling on the stock market because you don’t have to do a lot of checking. To begin with, there are only two teams and one of them is sure to be a winner.

Rather than toss the dice against the vagaries of the various markets that contain thousands of stocks, you should do some shopping before buying. And make sure your information is from a reliable source, not some chat room.

Don’t even think about securities offered on the telephone or by e-mail and deal only with a securities firm that you know or one recommended by a person who is familiar with the investment industry. You might ask your tax preparer, attorney, or accountant for a referral.

Beware of promises of quick riches. If it sounds too good to be true, it probably is.

Be sure you understand the extent of the possibility of risk of loss as well as the prospect of gain.

Get all the facts and support them with more research. Don’t buy on tips or rumors.

When dealing with a securities salesperson, ask to see their Securities Commission licenses as well as information about themselves and their company.

If there’s anything you don’t understand, ask them to clarify it. Ask them to write it down so you can consult with someone who does.

Don’t be afraid of asking a stupid question. You’re only being stupid if you don’t ask a question about something you don’t understand.

Written by Cecil Scaglione

March 5, 2022 at 3:00 am

Posted in Finance

Tagged with , ,

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