I need to send out a warning for everyone to be careful.
I have been observing that more and more people are already asking questions and acting on tips from total strangers. Sadly, those people may have the best of intentions but they DO NOT KNOW YOU, your objectives, your resources, and your risk appetite.
Just the other day, I saw a post on a Facebook group telling that he followed the advice of selling his stocks at a LOSS because the stock market has entered the bear market. If you are a long-term investor, why do that? Shouldn’t you be happy and buy more shares at a bargain price?
Please remember that this is YOUR money that we are talking about. You worked hard for it. The people giving tips have nothing to lose even if they give you wrong recommendations.
I highly advise that you do not blindly follow tips from people you do not know.
You don’t just ask for medical advice from anyone on the internet right?
YOU make the decisions about your investments.
Do not be impressed with photos of portfolios showing impressive results or technical charts showing that it’s the end of the world of stocks.
Go back to basics. Do your research. Ask questions. Learn. Make sure the research and recommendations that you get come from experienced and licensed professionals and organizations.
Always, always be a smart investor!