Carter Boyle: Five Investing Mistakes First-Time Investors Need to Be Wary Of


If you are a first-time investor, investing will probably involve a lot of trial and error. Financial analysts like Carter Boyle, not only manage their finances, but they also help their clients avoid the following common investing mistakes:

1.       Getting too attached to a company. Some investors “fall in love” with a company they have invested in, especially when they see it doing well. This kind of attachment will ultimately affect your investing decisions moving forward. It’s best to keep in mind why you bought the stock of a particular company in the first place – should the fundamental reasons change, it may be time to consider selling the stock.
2.       Investing without a plan. Investing blindly is most akin to gambling and may end up with you gaining lower returns – or worse, losing money. The best thing to do is to put a lot of thought into your investing strategy and make sure it’s based on positive expectancy and not on rumors and simple hot tips.
3.       Impatience. Unless your chosen strategy dictates otherwise, investing is usually a long-term endeavor. You aren’t getting the big returns you want overnight. Learn to manage your expectations and keep them realistic, especially regarding the length of time needed for your investment to grow.
4.       Not investing in financial education. In investing, you can never go wrong with having more knowledge. Financial education will help you parse through the information you receive so you can make the most informed and beneficial decisions possible.
5.       Letting your emotions take over. As financial analysts like Carter Boyle will tell you, investing is based on facts and provable data. Allowing your emotions, whether it’s fear or greed, to get the better of you will be nothing short of disastrous. Keep in mind that although the market may take wild turns, it doesn’t necessarily mean your decisions should be as erratic as well.

If it’s your first time investing, you can expect to commit a few mistakes here and there. But that’s normal. However, this doesn’t mean you shouldn’t take steps to avoid them. Plan your strategy carefully and be sure to stick with it.

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