Paul's Story

Well, I've always found investment ideas from various sources - investment magazines, websites, and friends. I think, for me, Stockopedia was the start of an increasing recognition that I needed as much accurate information as possible in order to make better decisions.

Where Stockopedia is invaluable is that when I have found an idea I like, I can get an almost instant sense of the company from its StockReport. It speeds up the research time enormously.

I think my approach is continually evolving. While Stockopedia wasn't a single Road to Damascus experience, it's certainly helped with that evolution.

Be patient! You're not going to get rich overnight - this is a long haul game.

Enjoy it - I really like the challenge of finding a company I'm prepared to invest in and the excitement when I get it right. Everyone's very excited about Sylvania Platinum at the moment, seeing good value and prospects at 120p. I'm very satisfied that I bought when the shares were 19p (I wish all my investments were this good!).

I think the single best bit of investment advice is something that I think is attributed to a Rothschild - when asked how he got rich, he said, "Buying too late and selling too early". Missing out on the early part of a share price rise is worth it if it means you're more sure it's going to rise!

Invest in information. I think Paul Scott makes a very good point when he talks about the absurdity of people who will spend £1000s on shares but won't subscribe to, say, Stockopedia. The trend may be your friend, but so is information.

Cross reference. No-one gets it right all the time. But if 3 or 4 really good, experienced investors all like the same share, it's got a much better chance of doing well.

Sell immediately on a profit warning.

Be patient - just because you've seen the exciting potential of a company doesn't mean that the rest of the market is going to see it at the same time as you.

If at all possible, try to find interviews/presentations of management. Do you want to trust these people with your money?

Maybe most important of all, learn from your mistakes. The only way to get good at anything is to do it - but on the way you make mistakes. Don't worry about them - analyse them and use them to make better decisions next time.