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I've made many mistakes in my early days of investing, costing me enough money to buy the latest iphone 16 pro max๐ but don't worry guys, I'm gonna save y'all from the same mistakes i made.
1๏ธโฃ๐๐ข๐ ๐ข ๐ฎ๐ป๐ฑ ๐ฏ๐น๐ถ๐ป๐ฑ๐น๐ ๐ณ๐ผ๐น๐น๐ผ๐๐ถ๐ป๐ด ๐ต๐๐ฝ๐ฒ
Back in 2021, most of the stocks and cryptos prices skyrocketed after COVID. We all thought we were going to be millionaires holding our meme coins and shitty stocks to the moon ๐ ๐. I bought into this overhyped high growth ETF called ARKG thinking that it will revolutionise the future. Everyone and their mum's were talking about it and it was showing all over the finance news but little did i know that i bought it at the high when its too late. I basically FOMO'd and just followed the hype without even doing any research and bought it when it was severely overvalued. Same thing with TSLA, everyone including my cat was asking me to buy it, making the stock very overvalued...fast forward a few years, the stock price is going down - far from it's all time highs ๐
2๏ธโฃ๐ก๐ผ๐ ๐๐ป๐ฑ๐ฒ๐ฟ๐๐๐ฎ๐ป๐ฑ๐ถ๐ป๐ด ๐๐ต๐ฎ๐ ๐'๐บ ๐ถ๐ป๐๐ฒ๐๐๐ถ๐ป๐ด ๐ถ๐ป
Continueing from my ARKG story, i didn't know wtf ARKG was. All i knew was that it was the 'future blah blah blah' and that was my mistake. Just like in real life, you should know what and why you're buying certain things so you don't waste your money.
3๏ธโฃ๐ ๐ฎ๐ธ๐ถ๐ป๐ด ๐ฒ๐บ๐ผ๐๐ถ๐ผ๐ป๐ฎ๐น ๐ฑ๐ฒ๐ฐ๐ถ๐๐ถ๐ผ๐ป๐
2021 was my villain arc fr. Back then, I bought META for 300+. It was undervalued and fundementally strong based on its financial statements. Then in 2022, it got hit with some temporary bad news which made a lot of investors over-react and panic sell (i was one of them ๐คก). The stock tumbled down all the way to $99 and my dumb ahh panic sold some of my shares on the way down despite the business' good fundementals. The stock then rebounded to close to $600 within a few years. Thankfully i learnt from my mistakes and loaded up more at the bottom and now im sitting on profit๐ฐ But if i held on to all my shares, i would've made more money ๐ญ. This goes to show that a stock's price will always follow the underlying business performance and earnings in the long run and not based on short term bad news. Understanding a company's fundementals will help you remain calm in situations like this. Instead, you will be aware that everyone is over-reacting and you'll buy more shares at the bottom making you richer when it rebounds๐
Hope you guys enjoy this content. Do NOT make the same mistakes as me or else ๐ค๐ฅ
#mindfulspending #realtalk #mylemon8diary #moneytips #adultingwoes