Newbie guidance

[Hoop]

.....You ask above if you should seek advice from a financial advisor. Completely up to you, in my experience and opinion not worth the fees, but perhaps worth an initial consult and see how you feel about them thereafter.

Ditto..never been a great fan of financial advisors..
Everyone tells you to read books...I'm not sure that that helps overall these days either..Buying into a stock because a book told you too may not be a good practice.
I'm with ANZ Securities and yes it is a hassle to sign up..It's a fact of life due to the new laws surrounding security and control of that security.

I suggest learning back to front and learn from your mistakes method...Start a dummy portfolio and see how you go..each person has different mindsets, tolerances stress levels and one has to develop their successful system...Remember when starting investing....write down you strengths and weaknesses...important not to cheat..and then begin developing your personalised investment system using your strengths and minimising your weaknesses..Developing your individualised successful system usually takes a long time a lot tinkering is needed to reduce the failures / minimising unforeseen personal weaknesses (eg a lower level of temptation)..Ongoing dummy portfolio failures will help you to find the right investment system that suits you personal mental profile and it will cost you nothing..


Back in the Real World:......What is important is ..communication....communication....communication. .Up to date knowledge... Up to date knowledge...Up to date knowledge... You have to know what is going on around and within your investment environment.
You sometimes see posters on ST mentioning they go to the places they have shares in and observe , chat with the staff, ask questions...There use to be a saying in the old days.."If you want to know what's really going on within a company you ask the Tea Lady".

The successful investors have "good noses" they can sniff out bargain stocks..These people are usually "hidden" as they don't show their wealth but they are very approachable chatty, friendly, and can mix with all social classes of people...they listen understand and enquire..They will share some knowledge when asked...They will debate in groups..They are good at figuring out the type of person you are...An example which happened to me a few weeks ago..I was watching a guy on this digger next door..He came over and starting chatting.. He was in old clothes and gumboots..I was friendly, polite, in return, unaware that he was no contractor but one of Hamilton's richest people..When he did introduce himself my behaviour did not change as I had already given him "token" respect..he saw this and we chatted for another 1/2 hour...we traded some knowledge, both of us benefited..

All the books in the world can not tell you want is going to happen to a company moving forward but gaining info through personal contact with the people associated within the companies environment can give you an insight to possible future events..especially if they tell "tales out of school"

AGM's...gaining info??...yes its info but is it the info that really matters..probably not..I haven't the time to go to AGM's and no desire to go for the sausage rolls..However it's likely you may gain valuable info from other shareholders..group debate and swap information...

So Willingtolearn....The information you have has to be valuable..You only gain valuable information from these groups if they see your information as fresh and valuable...Reciting information from a textbook or the common media maybe a discussion point but won't get you any important stuff..Basically it is who you know not what you know..because it's who you know that gives you the opportunities of what to know..

So for a newbie it bloody hard to break into the world of investing...You need to build up a network of knowledge together with contacts.. It will take time and work...My computer is crammed full of websites and people that have delivered information that has over time turned out to be correct.

My alert signs and caution behaviour tells me, a Financial advisor is not your best buddy (but you may need one for the IPO's)..and beware of a person dressed in a suit and tie..

As for the internet... a great communication tool for interacting with people in the know, people who seem to get it right every time, and private group forums.....Also Research..do it right!!! Research with an "open mind"..don't be bias, research using all viewpoints, DONT research only the stuff that reinforces your opinion...This is a common weakness when analysing ones Strengths and Weaknesses.

Remember Sharetrader forum is a public forum complete with a range of information, misinformation, spin, spam and unfortunately you won't have access to any really valuable sensitive info due to Liable Laws and confidentiality ..

It is amazing in this day and age that the internet still doesn't give you the info that really matters..for example There's a major road being built in 2017 400metres from my place..there is no mention of the start date on the internet (google) just a mention of it back in 2008..I've recently had outside interest in my property and I questioned why this sudden demand to the real estate people, they said heavy demand for property, not one mentioned the new road which would increase the value of my property..I only found out through that digger guy in old clothes and gumboots..