2498: The Weekend Podcast - Advice for friends & family

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Manage episode 333217111 series 86977
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The Weekend Podcast with Paddy, not Pete & Steve.
When family members / friends ask you for investment advice they will generally ask you near the top of the market when everyone is shouting about the gains they're making.
This is the worst time to invest.
Right now this is one of the best times to invest, for the long term.
But whenever they ask you always point them to a fund and tell them to invest via an ISA by paying into it monthly.
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Near the top of a bull people put money into riskier & riskier assets, believing its going higher.
Hence the huge interest in crypto at peak.
Near the bottom of a bear market people put money into safer assets believe its going lower.
Hence the interest in dividend payers.
However many will not be invested in them long enough to benefit from them & will jump back into riskier assets as soon as they start moving quickly which they will.
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The market has had a brutal sell off, very few investors / traders have not been affected by it.
Try to keep some cash handy for that those co’s you have highest commitment on & be patient.
You will not catch the bottom but it’s better to be right & late, than early and wrong
When it does turn those co’s can make you decent money.
#bepateint

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