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in this video we're going to talk about peter link investment advice for beginners before starting the video please do like it and subscribe to the channel for future updates all right now here are a few of the most common questions and answers by peter link what do you need to become a great investor well the stomach is the most important organ in the stock market it isn't the brain that is causing the problem the quantity of terrible news you can hear on your commute to work is now practically unlimited so the issue is are you up to it do you really believe that common stocks will be the place to be in 10 years 20 years or 30 years you should have some money in equities funds if you believe that it's a matter of determining your pain tolerance there will be reductions in the future it may be as soon as tomorrow it may be in a year's time nobody knows when it'll happen is this something you're prepared for do you have the stomach for it the majority of people succeed because they persevere despite considerable volatility around the pandemic the stock market has been on a bull run for more than 10 years now is it time for investors to trim their exposure to stocks most people have lost money waiting for corrections and anticipating corrections than in the actual corrections the stock market is a great place to be in for the long run however i could now toss a coin is it going to be lower in two years higher i'm not sure however more people have lost money waiting for and anticipating corrections than in the corrections themselves trying to predict market highs and lows for example is fruitless how do you feel when the market drops during the 13 years as a ceo of magellan the market fell nine times by 10 or more every time it dropped the fun dropped even more as a result i didn't give it a second thought over the last 10 years 30 years in 100 years the stock market has been the best place to be but you shouldn't put stocks if you need money in a year or two consider putting your money in a money market fund what should investors do when the market eventually tanks you've got to look in the mirror every day and say what am i going to do if the market goes down 10 percent what do i do if the market goes down 20 am i going to sell am i going to get out if that's your answer you should consider lowering your stock holdings today how did you first get interested in investing my father became sick when i was seven died when i was 10 i started caddying at 11 in the 50s when the stock market was thriving it moved up all the time and others were recommending stocks they talked about stocks and i'd look at them i didn't even have any money but i watched them go up wow this looks like a fantastic idea i said that's exactly what i did i performed a report on the air cargo market at boston college and acquired 300 worth of flying tiger airline stocks when the vietnam war broke out they needed to fly a lot of supplies to vietnam i believe that that was merely a stroke of luck but i was aware of the motive for my purchase eric cargo is the major deal i replied after looking into it flying tiger was only transporting freight not people it looks like a growth area i said after working on it i believe flying tiger helped me pay for graduate school i'm 75 years old middle age is 88 and old age is 107 i haven't changed in the slightest i'm doing the same things i was doing when i was 19 and 20.
what's the biggest mistake you see individual investors making when it comes to buying a house a refrigerator a car the general public is cautious they'll work long hours to save a hundred dollars on a round-trip plane ticket they'll wager five thousand or ten thousand dollars on some wild concept they overheard on the bus that's a form of gambling that isn't the same as investing that isn't research at all that is purely speculative how should individual investors approach picking stocks stocks aren't the same things as lottery tickets every stock is a corporation behind it if the company does well the stocks will do well over time and vice versa you need to look into the company and that's what you're looking into that's what fidelity does and it's what i do what's a good way to begin investing in stocks well begin by creating a paper portfolio then say something like i'm going to invest x amount of money in the portfolio say ten thousand dollars or a hundred thousand dollars it's made of paper make it a huge deal choose five firms to invest in then ask yourself why am i buying these five if it isn't a case of the suckers going up that's one i've tried that isn't the case what if it's about this one appeals to me then you keep track of them over time to discover what you excel in are you skilled at making quick decisions do you have a knack for finding bargains are you good with little businesses the fact that the stock went up from three dollars to six dollars isn't what matters what caused the price to rise what happened to the plot of the story that is the purpose of the research has the company's fundamentals improved how can an average investor get an edge do you think you'll be able to examine the company mcdonald's is well known among the general public biotechnology and computer software companies on the other hand are difficult to assess so think about it do you know anything about the business what else can you add to the equations do you have a competitive edge you might work as an interventional cardiologist and implant a heart pump you think to yourself wow this is a huge breakthrough reducing shock and providing hemodynamic support you're in the operating room witnessing this breakthrough before the rest of the world that gives you an advantage you require a competitive advantage in some way when you're looking for stocks to buy what do you search for well you want to purchase in the second or third inning and get out in the 7th or 8th says the pitcher think of this in baseball terms right when walmart was a 10 year old public firm they only had a presence in 15 percent of the united states for the next 30 years they did nothing but go from 15 percent to 100 percent the stock increased by a factor of 50.
they had a winning formula and just followed it in the united states how do you tell when it's time to sell a stock well choosing when to sell is the same as choosing when to acquire you have a story about why you bought this this company is improving from a dreadful state to a semi-dreadful state and because the company's well capitalized it will go bankrupt i'm probably out when the business improves from mediocre to good then there's no more room to develop you sell the company that was once a growth story where could they go when taco bell was only in southern california they went to central california then they were all over the place it's a 70-year story after all you must determine when a company is approaching maturity and then you must exit alternatively the plot may worsen hold on if the story is still intact what are your thoughts on the economy's impact on the stock market if you spend more than 13 minutes a year on economics i believe you've squandered more than 10 minutes it's hardly helpful to say the least everyone wants to know what will happen in the future and i've tried calling 1-800 psychic hotlines it hasn't made a difference the only thing i'd consider is that what's going on right now what recommendations do you offer for investors in mutual funds the question is when you own a fund do you know what you own is this the flavor you're looking for do you like real action or something more conservative we want the people to be happy you know we will not direct people's actions we do however have people to talk to so what do you think about this video let us know in the comment box below and please do like the video and subscribe to our channel for future updates
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