In an interview in 1991 for the Financial Times that I read and studied, Warren Buffett mentioned the importance of being “ready for a handful of good investments each year”. Here are some ideas for you to be “ready” to invest successfully –
- Be sufficiently equipped and knowledgeable about stocks and stock investing, such that you know how to safely engage the market and the risks involved. (Consider taking the Stock Market Companion – Stock Investing Course).
- Develop a short, dependable, repeatable process for reviewing the markets and individual company stocks that fits your strengths, lifestyle, and schedule. (Available in the SMC – Stock Investing Course – Power Tools Notebook)
- Implement your process for reviewing the markets and individual company stocks, regularly. (Consider learning the SMC S.I.M.P.L.E Stock Investing Method)
- Do not be rushed emotionally or mentally to “have to” invest. Warren Buffett mentioned in the same interview that there were some years when he did not have any good ideas, and some years that he his ideas couldn’t be achieved (because the market or pricing wasn’t right).
- Establish investing goals that you can achieve . (Covered in the SMC – Stock Investing Course – Power Tools Notebook)
Onward to successful investing…