Tip #1: Build a Portfolio
Updated: Mar 3, 2022
"You can’t predict. You can prepare.” -- Howard Marks
Investing is about more than just buying stocks or “playing” the market.
It’s about building a portfolio of investments.
Think of investing as caring for your own garden. Like harvesting a garden, investing is not a game or a moment in time, but rather a delicate process over time in which you can study, select, grow and carefully prune your garden of investments. Your garden is a mixed batch of investments that will nourish you for many years, rather than a random selection of crops that you've planted simply because they were fashionable last year.
Your investment portfolio, like your own personal garden, is interconnected to you and says a million little things about who you are. Like any garden, it’s bound to experience periods of droughts and floods. But over time, and with lots of care and patience, it can endure and grow beyond your wildest expectations.
Predicting the timing (peak & trough) of any crisis, such as the current COVID-19 pandemic, is almost impossible. But successful investing is POSSIBLE. By building a diversified investment portfolio, you will give yourself a good chance to withstand any economic contraction and thrive during future periods of growth.
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