There’s something crazy about investing in stocks.
I used to trade mining and other resource stocks many years ago. It’s a tough industry because those companies are like “burning matches.”
You have to buy startups with the potential to be bought out by major oil and gas producers and… lots of startups fail so… you end up losing a lot of money trying to find the right company.
WHich is what I did (lose money, I mean).
It (eventually) dawned on me that buying stocks like that wasn’t really investing. It was speculating.
Even when you buy stocks for the long-term… most stock buys are speculative because most businesses are speculative… especially today’s businesses.
The tech industry is probably more so than any other.
No one really knows which startup companies and products will win out over the long-term.
So… what can you do to make sure your investing strategy pans out?
Protect yourself first, before taking risks with money you can’t afford to lose.