Now, my father said pick only a few companies that you research well, and keep up on the news of those companies every day, which will let you know if you should hold or sell. My friend was his own worst enemy as a stock trader. I decided to stop listening to him, and put all my money on one energy stock only, and he told me I was making a big mistake.
I told him that this company showed it had a large surplus of money, and always beat their earnings. Their revenue was high, and so was their profits. The only reason why the stock was so low was because the market went down at the
beginning of the Covid epidemic, and many people sold all their stocks, and everything on the market was at a major bargain.
Anyway, the company I invested in was at 40 dollars a share, and now after the big sell off they went down to only 8 dollars a share, and I bought a lot of shares when it hit 10 dollars. My friend continued with bad stocks he did not research, and he was losing lots of money while at the same time warning me to not buy energy stocks. I ignored him in bought anyway.
Now, when I bought, President Trump in his first term stated we were energy independent. That news alone convinced me to go with this energy company and bought as much as I could. I was right about this company, and made very good money because I did my research. This company went up to 70 dollars a share from when I bought it at 10 dollars. The bottom line is do not take advice from a person who is not making money.
Now, when I bought, President Trump in his first term stated we were energy independent. That news alone convinced me to go with this energy company and bought as much as I could. I was right about this company, and made very good money because I did my research. This company went up to 70 dollars a share from when I bought it at 10 dollars. The bottom line is do not take advice from a person who is not making money.
My friend told me to get into pharmaceutical stocks, and since he was making money, I took his advice, but not before I told him I wanted to invest in energy. He told me you will lose money doing that, so I invested in pharmaceutical stocks based on his advice, and lost money. I soon found out quickly that everytime he said he made money, he was recovering lost money. He would pick a company based on name recognition, and never once researched any of the companies he bought. He would invest in 20 or more companies at the same time, hoping one would hit big time, which is a gamblers mentality.
DID YOU KNOW