What do new investors need to know about trading stocks?

 

“Every investment is an education. The only question is whether you will pay tuition or get a scholarship. ”

One of the biggest problems faced by a novice, is not recognizing the breadth and depth of knowledge required to truly be an expert. This was eloquently explained in a now famous study by Justin Dunning and David Kruger. Understanding the “Dunning-Kreuger effect” can help us be more self aware when investing.

Furthermore, like an experienced mountain guide can help you conquer peaks, a financial advisor can be a considerable resource. And if you decide to go venture solo, do things in moderation to start. Be prudent, calculated, and treat the experience like an education.

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