Nicholas Scown: 5 Tips For The Successful Long-Term Investor
Nicholas Scown: “When it comes to handling businesses with a long term business prospect, it is wise to listen to successful entrepreneurs out there who kept their business competitive despite struggles and changes in market”. Nicholas Scown is an individual with multi-talents who has ventured into both offline and online businesses. With his experience in the internet business and trading sector, he now helps people to make the best life possible out of their businesses. Here are five tips from him for anyone looking to invest in the stock market.
Sell the losers and let the winners ride
Sounds harsh and bad but that’s the reality. You wouldn’t want to keep low-quality investments when you already know that it will lead to greater loss soon. You should be wise enough to know what and when to let go of investments that no longer benefits the game.
Don’t chase a “hot tip”
When you make an investment, it’s important you know the reasons for doing so; do your own research and analysis of any company before you even consider investing your hard-earned money. Relying on expertise of entrepreneurs like Nicholas Scown is much worth it than listening to the opinions of your relatives who have little to no trading market or finance knowledge.
Don’t sweat the small stuff.
As a long-term investor, you shouldn’t panic when your investments experience short-term movements. When tracking the activities of your investments, you should look at the big picture. To be able to do this, you should be following up the trends of other investments, learn from the trade market to finally be able to analyse your own investment’s flow.
Don’t overemphasize the P/E ratio.
Investors often place too much importance on the price-earnings ratio (P/E ratio). But, you should also remember that P/E ratio is simply not the only tool to evaluate or analyze your profitability. “It should be used in conjunction with other analytical processes”, says Nicholas Scown.
Pick a strategy and stick with it.
Different people use different methods to pick stocks and fulfill investing goals. There are many ways to be successful and no one strategy is inherently better than any other. However, once you find your style, stick with it. Nicholas Scown’s business advice has helped many start-up companies in redefining their strategies and these five tips above are sure to help you make practical moves in stabilizing your businesses.
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Nicholas Scown is a retired internet professional based in Tauranga on the North Island of New Zealand. He is the founder of Nick Scown Advertising.