Warren Buffett famously has two rules for investing: Rule #1, Never Lose Money. Rule #2, Never Forget Rule #1. While this sounds discouraging at worst and unhelpful at best, there is a lot of truth behind the blunt words of the brilliant investor. Do your research. Don’t gamble. While even Warren Buffett himself has “lost” millions of dollars over his career, his point is that if you put in the time, energy, and research into truly learning about stocks, you can greatly minimize your losses.
There are a few different highly recommended resources you should look at in order to learn more about stocks and investing, but there are also some important general tips:
A few books highly recommended books:
Listed below are some great websites to refer back to and help you get your foot in the door, from defining important terminology to giving specific stock performance information:
Watching YouTube videos is a great way to learn from home as if you are in a classroom. Here are some good videos to get started with:
There is no way around it; educating yourself on different stocks, investing, and the context of the stock market is absolutely imperative to minimize future risk and maximize your chance of success, good luck!