Mar 12, 2021 11:21 PM EST
We all have investments in various markets, but do we take time to research those markets before we put our money there? Do we keep up with trends in the market during the period of our investment? Research is a necessary aspect of any investment, argues Jack Skipp, an entrepreneur, and businessman.
Jack Skipp is a pilot-turned-entrepreneur who is passionate about sharing financial knowledge with people to help them become better in their financial management. When he was younger, he wanted to follow his father into aviation. After finishing his Business Studies at Nelson &Colne College, he left for the American Aviation Academy in California to start his aviation studies. After completing his commercial pilot training, he realized that his heart was in business and entrepreneurship, not aviation.
"I post YouTube videos on investment and cryptocurrency, and share knowledge based on my extensive experience in the financial and investment world," says Skipp.
One of the constant advice he gives people is to research any market they want to invest in thoroughly.
There are several markets you can invest in; dedicate time to thoroughly research each so that you can come up with the best investment strategy. Once you've settled on one (or more), spend more time researching the ins and outs to learn how it works and its risks. Look at its past performance and analysts' predictions for the future so that you can better understand what to expect when you invest.
Once you've invested, you need to constantly be up-to-date with the latest news and trends in not just the market you invested in, but others too, since a change in one can cause a domino effect in others. For instance, a slight political turmoil can have a substantial adverse effect on stocks, bonds, and forex, among others.
"You should always be updated on industry news, general politics, and anything else that can affect your investment," advises Skipp. "This way, you can know when to either sell or invest more money in your investment."
There is no one way to coming up with an investment strategy, but the one thing that anyone looking to invest should do is to thoroughly research before making any decisions.
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