Being a newbie investor isn’t easy. So, there’s always the yearning for some good advice and heads up. Luckily, the investing world and legendary investors have a lot of those. Here are some of the most influential investors in the world with their pieces of advice for new investors.
Carlos Slim is one of the richest men in the world. He owns hundreds of companies and follows a very excellent mindset that many investors and can follow.
For him, investors shouldn’t be looking solely at what is happening now. What’s better is to study the momentum of a company and the whole economy. Study how it interacts with the competitors and others in the field.
By doing that, the investor will be investing for the future, making them forward-thinking.
Warren Buffett is probably the most mentioned legendary investor in today’s world. He’s also one of the most successful investors in history.
Apart from that, Buffett is known for being a prolific teacher. He sends yearly letters to the investors of his company, Berkshire Hathaway, and such letters have been used in finance classes in the biggest and most prestigious universities.
Among Buffett’s most popular pieces of advice when assessing a company is looking at the quality of the company. What that means is that you should learn about balance sheets, conference calls et cetera. Also, Buffett also believes that you should have confidence in the quality of the company first before you start to evaluate it.
Carl Icahn can be best described as a modern-day corporate raider. He is a private equity investor who buys large stakes in companies and attempts to get voting rights to increase the shareholder value.
Among his holdings are Yahoo, Clorox, Blockbuster Video, and Time Warner.
Icahn isn’t your typical inspirational talker. He once said that people learn in the business, so “if you want a friend, get a dog.”
He is known for his “Icahn Lift.” What happens is that when he takes over a company that he thinks lacks good management, the business typically perks up.
Dennis Gartman is widely popular for The Gartman Letter, which is a daily commentary on the global capital markets. The letter is delivered to hedge funds, brokerages, mutual funds, and trading firms around the world every morning.
He may sound familiar to you, and that’s because he’s a very accomplished trader and he usually have guest appearances on financial networks.
He has given many important tips and rules to investors. For instance, he has advised not to sell at the first sign of profits. Rather, traders should let winning trades run. Also, he advised not to let a losing trade get away.
He points out that the key to successful trading is not about being right 100% of the time but being right most of the time.
Bill Gross is the co-founder of PIMCO. He manages the PIMCO Total Return Fund, which is one of the biggest funds in the world.
Gross has some good advice when it comes to portfolio management. Of course, this include the universal rule for all investors: diversification. But he also encourages taking a chance of stocks that are supported by exhaustive research.