RICHMOND, Va. (WWBT) - If you are new to investing and watching the stock market or your kids are, there’s one big thing to remember. The stock market is not a game.
Michael Joyce with the Richmond Financial firm Agili says you can lose a lot of money getting caught up in the hype. He says there’s a difference between investing and speculation or gambling. It’s not a get-rich-quick scheme.
“You really want to think about why you are investing in it. What are the fundamentals for investing in this company? Not just because of something that you might read on a Reddit board,” Joyce says.
Joyce says you don’t want to buy something just because it moved up and you don’t want to sell just because it’s gone down and you think it’s going to go lower. He says you want to be measured and careful.
He also says to get with a financial advisor or an expert to teach you the ins and outs. You don’t want to just wing it.
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