RE: Wise strategy29 Nov 2020 16:37
Good advice CB - I think anyone new to 'investing' should decide what sort of investor they want to be and the amount of risk they are prepared to take. Some want a punt and a quick return others may be prepared to build their wealth by instalments. I was lucky when I retired I was landed with a lump sum and despite already dabbling in the SE I found that Investment Trusts were an excellent way to build some more capital. I chose a magazine MONEY OBSERVER which I read from cover to cover every time it landed on the mat. I chose my preferred Investment house and select what area I bought would gain over a period. I found FIDELITY were excellent and their range of areas to invest in interested me. I invested in several other 'houses' and sometimes built the investment by drip feeding say £50/100 per month into them.
Over a period of a few years I had made quite large gains and dividends were ploughed back to buy more units thereby building up my pot.
It is true to say that when one has a grasp of this game there are far higher gains to be made by opting for investing directly into a particular company but Investment Trust give you comfort as their pure size means you get a spread of companies. AIM is a minefield, luck plays a big part in my view , more like a lottery but if you are prepared to put in the spadework yourself AND accept the risks involved you could get very rich, or very poor in a relatively short time. Being in the right place at the right time could help. I must say that these LSE bulletin boards are excellent there are a few good people to listen to, there are some that you should ignore. BUT whatever you do playing the Stock Exchange the Buck stops with you yourself, you can't blame others for your losses, but you can take the kudos when you make a few quid.
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