In addition, Pat thinks then beginner investors should cultivate two important qualities: a healthy sense of skepticism and patience.
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Investors should approach all investments with a healthy sense of skepticism. This can help keep you out of fraudulent stocks that masquerade as high-quality stocks. It will also keep you out of legally operated, but poorly managed, companies that promise more than they can possibly deliver.
If you are a new investor, you should also realize that losing patience can cause you to sell your best choices right before a big rise. All too often, investors buy a promising stock just as it enters a period of price stagnation. Even the best-performing stocks run into these unpredictable phases from time to time. They move mainly sideways in a wide range for months or years before their next big rise begins. (Stock brokers often refer to these stocks as “dead money.”)
If you lack patience, you run a big risk of selling your best choices in the midst of one of these phases, prior to the next big move upward. If you lose patience and sell, you are particularly likely to do so in the low end of the trading range, when stock prices have weakened and confidence in the stock has waned.
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The company gives investors a way to tap into the fast-growing field of online transaction processing....
- These stocks tend to be highly volatile, but not consistently so. They may go racing up and down, but also go through long periods of relative price stability.
- If you wait to buy on a dip, you may sit through a long rise and miss out on a huge gain.
- A bigger risk of waiting to buy on a dip is that the downturn that spurs you to buy may look like a dip at first, but turn out to be the start of a major decline.
Waiting for a dip sounds like conservative, risk-reduced investing....
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