By The Sizemore Letter
On my last trip to Baltimore, I sat down with InvestorPlace’s Alyssa Oursler to offer advice to young investors who are just getting started. I shared some of the mistakes I made along the way–and they are legion!–and gave the single most important piece of advice I can give: start saving early.
Every investor will make their share of mistakes as they learn a trading style that is appropriate for them. What works for me may not necessarily work for you, in the same sense that what works for Warren Buffett does not work for George Soros. This is something we all have to figure out on our own.
But while you are learning the ropes, save aggressively in your company’s 401k plan or in an IRA or Roth IRA. Invest in no-load mutual funds and low-fee ETFs with the bulk of your savings, and trade with a smaller portion.
You can watch the interview in the embedded video above. And here is a snippet of Alyssa’s article:
When Charles Sizemore was a kid, he used to watch his grandfather furiously jot down stock tickers — and from then on, he was hooked.
Decades later, he now has his CFA, a master’s degree from the London School of Economics, is the founder and editor of theSizemore Investment Letter, and manages client accounts through his firm Sizemore Capital Management.
Yet even he has made his share of mistakes along the way.
Charles says investors need to find a style that works for them — something that can only be achieved with a little experimentation. But even as you’re testing out things like trading, dividend investing and so on, you should be sure to have the core of your portfolio invested reasonably.
That’s because one of the most common investing mistakes — as Charles explains in the video above — is being overconfident. He says, “When you’re young, you think you are so smart and anything you pick will turn to gold. It’s not true.”
You can view the full article here.
Charles Lewis Sizemore, CFA, is the editor of the Sizemore Investment Letter and the chief investment officer of investments firm Sizemore Capital Management. Click here to learn about his top 5 global investing trends and get your copy of “The Top 5 Million Dollar Trends of 2013.”
This article first appeared on Sizemore Insights as VIDEO: Advice to Young Investors
