Promo! Promo!! The only language Oga Sabinus understands: free food, free drinks, free money. He doesn’t care where it comes from or what it’s meant for; as long as it’s an awoof deal, you’ll find him right there!
So, when his friend comes with a business promising 100% returns in two weeks, what does he do? Boom! He throws his money into it without a second thought. Why not? In this life, money must be made, abi? And when it fails, he conveniently blames village people for his bad luck and moves on.
But wait, let me ask you something.
Are you Oga Sabinus’ disciple? Do you know people proudly following in his footsteps? How long do you plan to keep doing this? Will you stop only when all your money has disappeared into awoof schemes?
When investing, certain habits make you a bad investor, and that’s not a road you want to go down. But don’t worry—there’s hope! Here are some key traits of good investors that you can start cultivating today:
1. Patience
You’ve heard the saying, “The patient dog eats the fattest bone,” right? Well, it’s especially true when it comes to investing. Building real wealth takes time, patience, and a long-term mindset. If you want to succeed, avoid the temptation of chasing quick profits or reacting impulsively to short-term market changes.
This “get in, make a quick buck, and get out” mindset? It’s not how you build wealth. Investing isn’t a get-rich-quick scheme. Holding your investments over time lets them grow through compound interest and recover after market dips.
2. Research and Analysis
You can’t call yourself a good investor if you don’t do your homework. What’s that about? You need to have a basic understanding of what you’re investing in.
Smart investors dig deep, researching potential investments by analyzing financial statements, market trends, and economic factors. They rely on data and thorough analysis, not wild guesses, before making any investment decisions.
3. Discipline
Every day presents us with opportunities to exercise discipline. It’s what stops you from eating that last piece of candy and saving it for later. It’s what keeps you from spending your last cash on shawarma when you have no food at home.
This same discipline is key for a good investor. A disciplined investor sticks to their strategy, ignoring emotional reactions to market swings. They set clear goals and follow a structured plan, regardless of the market’s ups and downs, consistently contributing to their portfolio.
Need a hand staying disciplined? An investment platform like Credlanche can help manage your portfolio, guiding you every step of the way with the support of experienced professionals.
4. Emotional Control
When the market’s green, you’re smiling. When it’s red, you’re in panic mode. You bounce back and forth like a zigzag line, and before you know it, you’re looking like a heartbeat monitor in a hospital.
That’s not the vibe you want. Emotional control is essential for any good investor. Stay cool and composed, or else you’ll end up sick—both in body and in your bank account. By keeping your emotions in check, you can make fact-based decisions, not ones driven by fear or greed. For instance, when others panic and sell during a market dip, you can see it as an opportunity to buy undervalued assets.
5. Focus on Fundamentals
As you start seeing success, it’s easy to get caught up in the hype. Confidence grows, and you might start chasing flashy trends without checking the basics. But here’s the thing: a good investor always returns to the fundamentals.
Instead of getting distracted by market noise, focus on the core values of the companies or assets you’re investing in—things like earnings growth, debt levels, and competitive advantage. These are what truly matter. Remember, investing isn’t a popularity contest. Stick to the basics that brought you to the game in the first place.
Becoming a good investor might seem like a lot of work—and yeah, it is. But it’s worth it! Good things don’t come easy. It’s not about difficulty, though; it’s about time. Stick to these tips, and soon enough, you’ll be the one telling people to brace for your comeback—because it’s going to be big!
For more guidance on investment, credit, and asset management, chat or call Credlanche’s customer service at (234) 812-3778-399. Remember, doing your research and proper analysis is the first step to becoming a savvy investor!