I used to choose shares recommended by friends and financial publications. I tried coming up with checklists for what I considered to be essential criteria, but it was all fairly woolly. Some shares went up, some down. I reckon I just about broke even.
Stockopedia has done a number of things. First, it has enormously increased by investing universe - I look at far more companies than I used to. Second, it's been a fantastic educational tool. I know far more about the basic data and what the various criteria mean.
The StockRanks act as a brilliant filter - junk stocks just don't get a look in - this alone must have saved me £1000s...
Lots of this comes from the brilliant little pop-ups that explain PEG and PE and so on, on every company page. Access to a really informed group of investors is helpful. And Paul Scott and the regular Stockopedia features all contribute to my knowledge, skill and confidence. This means I can be much more rigorous in choosing investments. Third, the StockRanks act as a brilliant filter - junk stocks just don't get a look in - this alone must have saved me £1000s...
Stockopedia has helped Paul turn £75,000 into £118,000 in just a few years!
My investments are now so much more successful. I've turned something like £75,000 into £118,000 in a few years, which seems brilliant to me. I'm investing for a secure and early retirement, so hopefully quality of life will be affected sooner rather than later.
Run a dummy portfolio for a year - don't be in a rush to throw your money at the stock market - you will lose it. Subscribe to Stockopedia (obviously!). Read lots of books. Read Paul Scott. Read the Naked Trader books. Don't sell everything off in a mad panic if the stock market as a whole crashes - you'll end up buying high and selling low - instead, look to buy if quality stocks suddenly become cheap as the herd stampedes for the exit. Don't buy story stocks. Don't buy stuff you don't understand and use a stop loss. Develop your own system that works for you.
Disclaimer - Testimonials are provided by third parties for informational purposes only and are not intended and should not be taken to be financial product advice.
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