Wealth Decision #3- Invest in High Quality Stocks

It has often been said that “the biggest risk of all is not taking one.”Early in my investing life, I always tried to find the next Amazon, Netflix, or Microsoft. I found stocks that did well in the short term, chased momentum growth stocks, and invested in smaller companies thinking I was smarter than the rest of the market. If I had a process for investing in companies like I do today, my success would have been substantially greater. I will be discussing 5 Rules for Successful Stock Investing.Thanks for listening and please share and rate this episode.Pre-order my new book "Momentous Decisions: 7 Steps to Better Health, More Wealth, and a Richer Life" at:⁠⁠⁠⁠https://www.momentouswealthadvisors.com/bookBrian D Muller (AAMS©), Founder, Wealth AdvisorIf you like to learn more about the Momentous P.R.U.D.E.N.T Process for picking quality companies go to:https://www.momentouswealthadvisors.com/stock-investingIf you would like to schedule a discovery call go to: https://calendly.com/brian-d-muller/discovery-callPodcast Disclaimer:The Wealth Decisions Podcast is provided solely for general information purposes and should not be construed as accounting, legal, tax, or any other professional advice. Visitors are advised not to act upon the information or content found here without first seeking appropriate guidance from a qualified accountant, financial planner, lawyer, or other relevant professional.Please note that any federal tax advice is not intended to be used to avoid penalties under the Internal Revenue Code or to promote, market, or recommend any transaction or matter addressed herein. It is important to ensure compliance with the requirements imposed by the IRS and Circular 230. We strive to ensure that the content published on the Wealth Decisions Podcast is accurate and up-to-date. However, we cannot guarantee the accuracy, timeliness, or relevance of any of the information provided. We are not responsible for any information present on the Wealth Decisions Podcast and disclaim any liability for the accuracy, completeness, or reliability of any information. This includes but is not limited to, any errors, omissions, or misleading or defamatory statements.Takeaways: I emphasize the paramount importance of conducting thorough research prior to making any investment decisions. Investing in quality stocks with strong fundamentals is more beneficial than chasing speculative story stocks. Diversification across various industries is essential to mitigate risks associated with market fluctuations. One should maintain realistic expectations regarding stock performance and understand the inherent volatility. Avoiding penny stocks is prudent due to their historically poor performance and high failure rates. Greed can lead to poor investment decisions; it is vital to take profits when appropriate. Companies mentioned in this episode: Amazon Netflix Microsoft Warren Buffett GameStop Google Finance Yahoo Finance sec.gov investors Business Daily VectorVest Apple Momentous Wealth Advisors