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.

By Phil Town

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

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.

Click the video to hear more.

Related: How Do Millionaires Spend Their Money?

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Phil Town is an Investment Advisor, Hedge Fund Manager, 2x New York Times Best-Selling Author of Rule #1 & Payback Time, and Ex-Grand Canyon River Rafting Guide. Rule #1 Investing is Warren Buffett style investing, teaching you how to buy businesses on sale, with little risk and 15 percent returns. In fact, Rule #1 investing is practically immune to the ups and downs of the stock market.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

More from Phil Town

How to Find a Stock On Sale That's Right for You

3 Bad Investing Habits You Should Drop Before It's Too Late

Nervous About Investing? Think About Your Money This Way.

How to React When a Recession Is Approaching

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