Want To Be a Successful Stock Investor? Start a Blog!
2 Notices Before I Continue:
1) Motley Fool didn't ask me to post this
2) While this might be a little long, this is the type of info that Jim Cramer and all the investing books in the world don't discuss. This is my personal opinion on how I was able to succeed as an investor - specifically in stocks.
So let me rewind the life and times of mikecart1 and tell you about how I personally learned the most from investing. Was it from reading Jim Cramer's books? No. Was it from watching hours and hours of business TV like CNBC? No. Was it from reading all the millions of articles on the internet about other people's opinions on how to invest in the market? No. It started with the blog.
Far before I joined the paid section of this site and far before I even joined as a regular member, I was 'blogging'. Maybe not in the purest definition. I was more posting. I was posting all over the internet in different forums. My original goal was to prove why others were wrong. I was bored and I believe in the 4 rules of improvement in life: physically, mentally, financially, and socially. Basically, I believe if I'm not doing something that improves those 4 aspects (mentally and consequently, financially), I am wasting time. But that is another topic lol.
I then realized that I could show why I was right. Later I realized why others were wrong, I was right, and how investing for the most part made sense if you did your research.
That is where blogging comes in. For me, I made it a goal to not look dumb. What that means is that what I posted, whether in simple threads or in long posts or even in my own blog like the one here, I had the high requirement to post facts, analyze those facts, and state things that were my ideas and my conclusions based on that information. Blogs do this.
Now this might not apply to everyone. That is clearly shown if you just google any topic. People don't have the respect to their peers or themselves to post their best effort.
Blogging overall is a teaching tool. It is YOU actually learning and DOING. Does a wannabe bodybuilder get big reading what others are doing or watching what others lift in the gym? Does someone become knowledgable on any subject in school by watching others? By forcing yourself to research a topic, most of the time you can at least get 80% there to knowing how much the rest of investors know about a particular company. Blogging isn't for the world. It is for yourself.
The bottom line is that if you want to seriously make mad money investing in stocks, close that 'How-To Guide', stop spending hours in front of a TV, and start researching yourself. After you have your own ideas, thoughts, and predictions, and you understand what you wrote, start a blog!