|By Business Wire||
|February 6, 2014 11:22 AM EST||
TradeKing Group, Inc.’s CEO Don Montanaro recently conducted interviews with a half dozen active independent investors ranging from 48 to 78 years old to glean their perspectives on the market. According to these investors, weathering varying market conditions has everything to do with common sense, not taking the easy way out, and the value of applying hard-earned lessons to everyday investing strategies to stay ahead.
“Every New Year, we hear from professional advisors, wealth managers and TV pundits about their market predictions and when and where investors should be putting their money,” said Montanaro. “But hardly ever do people get to hear the views of those whose savings and retirement are actually on the line: that lone, brave figure called the independent investor.”
“So we asked actual self-directed investors – those who had seen more than their share of booms and busts – for their views on trading. We learned a lot and wanted to share some of their more intriguing responses,” continued Montanaro.
Following are excerpts from Montanaro’s one-on-one independent investor interviews. More investor responses can be found on his blog.
Why Start Investing?
- “I started in the early 1980s with the knowledge that I would never be able to retire just working as a carpenter.” Spshapiro (66)
- “I grew up in modest circumstances and wanted to enjoy some of the finer things in life and achieve it in an honest fashion. Investing offered me the opportunity to gamble but only when I felt the odds were in my favor.” Terrified & Fearless (61)
Hard Earned Lessons
- “I was wrong all the way up and all the way down [on Apple]. But as it started its climb, my attitude was that it could never go up $20+ again after doing so for days on end. Well, you know the rest…It served as a reminder of how the market doesn't have to always be logical.” Doougle (48)
Some Strategies Speak to the ‘Courage of Your Convictions’
- “My single most successful strategy has been to wait for ‘crashes’ and then buy. In the early 2000s, I made a very large score by buying a huge (for me) position in Novell. Although Novell was getting killed by Microsoft, it was still minimally profitable and debt-free and I could buy shares for less than their cash on hand. Similarly in 2008 and 2009, there were incredible bargains to be had. You just needed the courage of your convictions to act on it.” Terrified and Fearless
Biggest Challenges to the Market
- “[T]he biggest challenge today is to avoid jumping on ‘what's hot’ at the moment and filtering out widely varying opinions…I believe the challenge is to not get caught up in the minutiae and stick with a plan. Let's face it - the price of a stock on any given day is based on supply, demand, political forces at home and abroad, and human emotion. All unpredictable.” Ira (50)
When It Comes to New Year’s Resolutions…
- “They don't make much sense…If you know you should change something, you don't have to wait for some special day to do it. It's a waste of time to try kidding yourself. If you know you should do something, do it or rue it. Pretending that you'll get around to it ‘tomorrow’ only wastes energy.” Spshapiro
- “I resolve to stay involved. Oh, and to stay the heck away from AAPL.” Doougle
To see additional comments from these investors, visit Don Montanaro’s blog
Note: Testimonials have been edited for clarity and emphasis by TradeKing. Testimonials may not be representative of the experience of other clients and is not indicative of future performance or success. No consideration was paid for any testimonials displayed.
About TradeKing Group, Inc.
TradeKing Group, Inc. (www.tradeking.com) consists of companies that provide online brokerage services, social communities for investors, investor education and more. Its subsidiary, TradeKing, is a nationally licensed online broker/dealer dedicated to empowering the independent, self- directed investor. It offers simple, low flat fees ($4.95 per trade for both equity and option trades with $0.65 per options contract).1 The TradeKing platform features powerful online equity, options, ETF, mutual fund and fixed-income trading tools accompanied by a rich set of news, research and analysis capabilities.
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