“Buy low, sell high is the secret to great profits.” – Phil Town
This week on InvestED, Phil and Danielle dive back into their recent conversation on checklists and introduce the acronym, RULES, that Phil uses to create his own checklist.
Rule #1 investing is all about certainty. As a Rule #1 investor, you must have certainty that you aren’t going to lose money in anything that you decide to invest in. Whether you are looking to invest in a house or into the stock market, it’s important that your focus is not on making money, but rather on not losing money.
Do you have a checklist? If you haven’t created a checklist, Phil and Danielle encourage you to make one. Checklists are the bones of every good investor because they help us stay rational when we become emotional. Most importantly, they keep us focused and on-track.
You can make a checklist by following Phil’s acronym, RULES:
Story & Inversion
Want to learn more about the acronym and how you can use it to create a bullet-proof checklist? Join us on the podcast today!
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On the InvestED podcast, Phil and his daughter Danielle shine a light on the successful investing strategies that gurus like Warren Buffett have used for 80 years. Listen in for a great stock market education on basics, learn how to invest on your own, and follow along with real-time examples and investing tips from week to week.