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Don’t Quit Your Day Job..Yet

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Day trading is one of the most common dreams not only in America, but abroad as well. People consider leaving their jobs and trading out of their home office and making more while working less or perhaps not even working at all! The old saying does state unequivocally that doing what you love means never having to work a day in your life, right? Is working out of the home and investing as you see fit really a smart idea? It honestly depends on where you get your advice and how much effort you are going to put into the enterprise.

The good news is that you can actually build up slowly at first and change the amount of time and effort you put into the endeavor as you go. In fact, it might be a fair statement to say that amount of time you really need to spend doing research on investments depends greatly on where you get your advice. Good advice is where you find it, and there are examples everywhere in modern society to look through. Let’s take a look at Charles Phillips of Oracle and self-made billionaire Warren Buffett of Berkshire Hathaway fame.

With Charles Phillips Oracle had a person at the helm with an idea that is critical to their current and future market position: everything must be customer focused. While the company’s stock took a tumble on the unfortunate news that Mr. Phillips had engaged in a protracted affair, he was eventually replaced by another exec that had previously done the exact same thing . Net result as far as investors are concerned? Oracle stocks jumped up higher than before and the groundwork for the future remains. What do we take away from this? Invest in both companies and people, but never a judge an investment by the personal life of the people running the operation.

Warren Buffett has some sound advice as well: consider long term strategies and avoid the whole buy-low/sell-high investment strategy. A sound portfolio is one that supports companies with long-term value, not something that you intend to flip under the right market conditions. Loading up on stocks, bonds, and/or mutual funds that you plan on flipping for a quick buck requires that you strike while the iron is hot, and that is simply an unnecessary time sink for most people. Instead, consider investing in companies with strong, reliable track records, a bright future, and pay dividends on their stocks or offer reasonable returns on their bonds.


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