Starting your investment journey in 2024? Here are crucial pieces of advice from 5 legendary investors including Buffett
Legendary investors like Warren Buffett and a few others have spent decades in financial markets. They know the markets very well and have created a fortune for themselves and their investors. So, when these legendary investors speak, the entire financial community is all ears. In fact, so many investors have created wealth for themselves just by following the advice of these legendary investors. Are you about to start your investment journey in 2024? Here are some famous quotes from these legendary investors and the message/learning from the quotes that can help you shape your investment journey.
Whether it is your investments or career, the more knowledge you gain, the better for you. Before you start investing, you should acquaint yourself with basic concepts like risk, returns, asset allocation, various financial products and their features, financial goals, steps to achieve them, etc.
Asset allocation requires investing in various asset classes like equity mutual funds, fixed income, gold, real estate, etc. You should understand the features of each of these products before investing in them. For example, when it comes to investing in gold, you should understand the factors that affect gold prices, why you should invest in gold, the different ways of investing in gold, taxation, etc.
Every financial product has a primary purpose that you should understand. For example, equity mutual funds are for growth, fixed income is for stability, gold is a hedge against inflation and economic uncertainty, insurance is for protection, real estate (house) is for living, etc. So, you should do the necessary research and analysis before deciding to invest.
As per this quote, the best time to invest is when the market falls sharply
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