Does your investment adviser get paid whether or not you come out good from an investment? If so, you are going to get the short end of the stick. If not now, then sometime soon.
This includes those you pay, and those that are paid by other parties. Other parties?
Investment advice is peddled by market makers, fraudsters, banksters, and such people. Their job is to get gullible people to sink their money into their products as investments. Watches, cars, jewelries, and even stocks and crypto.
Where To Get Investment Advice
The best investment advice should come free. Free is subjective in this context, but the bottom line is that it should not be a case of someone getting paid from the money you put in. a friendly conversation over a game of golf is likely to pay off better than a session with a guy who just wants to get your money.
Of course, the friend can be benefiting too. If they advise you to invest in something they have already invested in, or if they urge you to partner with them in a business venture, then they would technically be getting paid as well. But that is a lot different from a situation where they profit regardless of what happens to you.
Caveat! If your friend sounds like a marketer, he probably sees you not as a friend but as a prospect. Keep your senses alive.
Cultivate An Interest
Almost anything can be an investment if you know enough about it. Cars, watches, food, houses, crypto, and of course stocks. Aficionados freely give advice on any of these subjects, although advice is not the proper word. They merely share opinions in a calm, friendly manner.
They do not do so to earn money – they do it to boost the friendship. They understand that it could be them asking for opinions the next day, and they hope to receive it with gratitude. This is probably why rich people only play golf with their fellow rich people.
They talk about their interests, and get richer with every conversation.
Courses And Books
Courses and books are some of the great ways to expand your knowledge about any interests you may have. They are great avenues to deepen your knowledge on any form of investment.
The authors and creators are usually knowledgeable people in the particular fields they write about, and they create the content as an extra avenue to make money from something they love. They do not write to funnel clients to brokers or creators of crypto scams, or anything shady. They are not paid by any third parties. They are paid by those who appreciate the good work they do.
This is doubly true if the books or courses have been recommended by friends or colleagues. They must have benefited something great, and now wholeheartedly – from the goodness of their hearts – want you too to enjoy the same.
Selfless. The best investment advice often does not come at a cost.
Insider Information
Yes, people go to jail for that, but in fact, it is the only way that rich people trade. Ordinary people purchase stocks, and then hope it goes up. Rich people purchase stocks because they know it will go up.
They may purchase it in large quantities, with the aim of getting the controlling rights. Then they can influence the decisions, and steer the companies in the right direction, thus making sure the stocks go up.
People who have information about the big moves of the above rich people may also make purchases, thus making capital gains as the stock prices go up.
Information is power – as long as you know how to get it.
Closing
As seen from the paragraphs above, the best places to get investment advice is from those who are not giving the advice for a fee. Even if they are charging a fee, that fee should come after the profit has been made.
The second (unstated) point is that the best people to get investment advice from are rich people! That’s right; wealthy people not only have an elemental understanding of money and how it works, they also have access to information which most people do not.
The best part is that they have the money to move things in their direction. They can buy enough units of any particular asset to create a scarcity, and drive up the prices. If you are ever going to suck up to a rich person, do so for information, not for handouts.
Further Reading
