IntelFire

I still remember the day when I bought my very first stock. It was a taxi company, one which I was intimately familiar with as my father worked for them as a driver. I had braved through the process of opening a brokerage account and deposited approximately $500 – then a hefty sum – into it.

Prior to opening the account, I had read as widely as I could on everything about investing. I was a voracious reader. Despite that, I was still a green horn when it came to actual investing. I still remember the excitement and trepedition as I bought a couple units of the stock. The sheer highs and lows of watching the stock price move every second mesmerised but also terrified me.

It has been over a decade – 12 long years – since that fateful day when I purchased a share of the company. Since then, I have evolved my strategies over the years. Where others had mentors to guide them on their investing journey – be they family, peers or bosses – I had none. Time and experience were my teachers and it has moulded my thinking into that of a contrarian. Below, I share some of my thoughts.

Rule 1: Invest In Yourself

I cannot stress the importance of investing in yourself, which is to acquire the necessary skills and knowledge required to make money. This may mean many things such as going to school for higher education, entering the workforce and working your way up the corporate ladder or building a business. You should also arm yourself with the basics of finances, such as understading how the stock market works, how to open a brokerage account, which companies are good to invest and the like.