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Tips On Building Your Portfolio
Making your portfolio grow is the goal of every investor. Here are some useful tips to help you increase your investment portfolio.
Tip 1: Have a plan.
Tip 2: Have goals.
Tip 3: Do your homework. Read prospectuses, check indexes, find out all you can.
Tip 4: Invest regularly.
Tip 5: Reinvest your proceeds.
Tip 6: Diversify.
Tip 7: Stick to mainstream investments.
Tip 8: Pick quality investments such as high grade bonds, stocks and securities with a strong track record.
Tip 9: For growth, focus on stocks. Invest for the long term.
Tip 10: Avoid commodities, options and futures.
Tip 11: Avoid limited partnerships.
Tip 12: Remember to figure the actual return-the expected return minus inflation.
Tip 13: Monitor your investments periodically. Check your investments' returns against their benchmarks.
Tip 14: Don't panic and sell a good investment when it's in a slump.
Tip 15: Don't get greedy and hang onto an investment you were planning to sell at a certain price because you think it might go higher.
Tip 16: Never give a broker the right to buy or sell without your prior approval.
Tip 17: Never buy from a stranger over the phone.
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