Want to Make Smart Investments? Use These Expert Tips. Finance guru Phil Town shares some of the best information he's collected over his investment career.
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In this video, Entrepreneur Network partner Phil Town discusses some of the best pieces of investing advice he's ever received. They are:
- Avoid watching the price of stocks on a daily basis. Just like a watched pot never boils, you can't expect major changes to happen each day.
- Live off one stream of income, then invest the other. Town emphasizes the importance of paying your bills and maintaining a quality lifestyle; once you've settled the basics, try to invest whatever you have left.
- Buy businesses, not stocks. Town stresses that you must believe in the companies you invest in.
- Treat all your investments the same. If your investment will still be active in a decade, keep at the process and stick with the business to see its true performance.
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