Information - at the service of a successful investor

The investment field is not as simple as it may seem at first glance. Making money is not as difficult as choosing the right project to invest in. But it is even more difficult to understand the potential of an idea that at first glance seems interesting. This is why the ability to analyze supplied information can be called the main factor that distinguishes a successful investor from an amateur.

Today we will talk about the most important skills of professional investors that will one day help you climb the investment Olympus.

1. Follow the news published by business mass media with an impeccable reputation. Make it a habit to read financial columns in such well-known periodicals as The Economist https://www.economist.com, Wall Street Journal https://www.wsj.com/, Financial Times (FT) https://www.ft.com, Bloomberg https://www.bloomberg.com/. You will get access to the key financial market information that is tracked daily by billionaires Warren Buffett, Bill Gates, and Richard Branson: the latest news, analytical articles, reviews, and expert opinions. Add an in-depth analysis of tendencies and long-term trends and feel like the king of information among your unsavvy acquaintances! If the language barrier prevents you from perceiving information in English, use Google Translate.

2. Check the facts and sources of information. Learn to distinguish business analysis of markets prepared by real experts based on statistics and arguments from opinion columns of journalists with a subjective point of view on the issue. Often the only goal of the latter is to make a name for themselves and spark interest to their publications by offering a fringe stance. Therefore, it is absolutely not recommended to make investment decisions based on such articles. Any figures used by experts must have a reputable origin with a reference to the source.

3. Learn to read financial reports and publications from the websites of governmental agencies. Macroeconomic statistics and analytics for various countries can be found on the websites of the World Bank https://www.worldbank.org/, the International Monetary Fund https://www.imf.org/external/index.htm and the Organization for Economic Co-operation and Development http://www.oecdru.org/.

4. Monitor news from news agencies. These resources do not usually color news emotionally the way journalists do, offering their readers cold facts: what happened, where and when. This way you will withstand the attempts to manipulate your mind by the press.

5. Follow the trends. A specialized periodical TechCrunch https://techcrunch.com/ dedicated to IT news from the business point of view, and other similar resources will help you with that. You can learn about the launch of the latest startups, online services and Internet companies and get information about how the modern world is developing from these websites.
Most likely, you will not be able to master all the 5 items from this list at once, but gradually adding one at a time, you will notice how your horizons and financial awareness have expanded.

Perhaps you have been using some of these tips for a while? Share your experience in the comments!