Lately, I was collecting a list of myths about stock Investing and wealth. Some of the findings were mind opening and I would like to share with world. When it comes to stock investing, some obvious things are not quite obvious.
- Anyone can make a killing just by investing in the stock market.
- There is no point in investing if you don’t have any money.
- Investing is complicated.
- Investing in stocks is like gambling.
- Rich people and large institutions have an enormous advantage over average investors.
- Market timing works. You can determine the top of the market and sell and wait for the bottom and but.
- Mutual funds beat the market.
- You should check your investments daily.
- When stocks decline, they will always go back up.
- The stock market is a exclusive club for brokers and the rich to make money.
- Any person with a computer can buy stocks.
- The market is always efficient.
- Stocks are risky.
- Buying and holding your investments always works.
- Hard work will always turn into greater earnings.
- Fortunes are created by those with the most education.
- You need to learn and know everything before you can create wealth.
- Wealthier people are happier.
- You need a lot of money to invest.
- New-economy stocks generate better returns than so-called old-economy stocks.