“Schtuff” I wish I’d been told years ago about money and markets

Good morning! 👋

People often ask me for pointers, especially when it comes to investing. I’m always happy to share what I know... for one simple reason.

There’s a huge list of “schtuff” I wish I’d been told years ago.

Here’s the thing.

Contrary to what people believe, investing isn’t rocket science.

You just need to get a few things right, and everything will fall into place. And no, I am not kidding.

Learning to invest the right way is how you build real, sustainable, life-altering wealth. Most of the time, it’s also completely counterintuitive.

How do I know?

Two reasons:

a) I put my shoes on just like everybody else—one at a time; and,

b) I’ve learned the hard way.

Everything I’m about to share with you is from the school of hard knocks.

1) Forget the “hot stocks.”

Start thinking about stocks that are going to be there when you need ‘em.

It’s a very short list.

2) Diversification is bullsh_t, even though it’s widely accepted as dogma.

It hasn’t worked for more than a decade and, in fact, is holding lots of people back.

Billionaire Warren Buffett has 93% of his wealth tied up in just 4 stocks. And I submit he knows a thing or two about making money.

My own research agrees. Upgrade to Paid

3) Mistakes are tuition.

They are inevitable, and they are a part of the process.

The key is learning something from your f-ups so as not to repeat ‘em.

4) Wannabes focus on being “right,” but the world’s most successful investors and traders focus on being profitable.

It’s absolutely possible to be profitable even though you’re “wrong.”

5) HOW you buy is every bit as important as WHAT you buy.

Most investors never make the connection, so they’ve consistently got too much risk on the table.

Learning to control risk before you buy helps maximize profits over time.

Bottom Line

It’s OKAY to ask for help.

Lots of folks think doing so is a sign of weakness, but that’s not true. Learning to ask for help and guidance is a sign of strength and confidence.

Besides, OGs like me are glad to help! Once upon a time, we were starting out too.

Now and as always, let’s MAKE it a great day!

Finish the week strong.

Keith 😊

PS: Since Monday is a federal holiday and the markets are closed, we’ll skip the 5 with Fitz and Monday OBA and return to you with fresh news and commentary on Tuesday, June 20.