Funny thing is, that there is nothing new in investment. Everything which needs to be known was discovered and implemented by the likes of Philip Fisher and Warren Buffett 50 years ago. And they have written extensively about it.
Luckily, when I was 21, I got good advice. I was working in a large multi-national and it just happened that at they were giving retirement planning advice to some of the old blokes (they were all blokes in those days). For some reason I went along and sat in one of the sessions. At the end of the presentation I got talking to the 'expert' and I asked him what I should be doing with my money.
Those were the days of defined pension plans, so that was not an issue, but what he advised me in essence was :
'Put $100 a month in Argo investments and wait until you become a millionaire. There is no point doing anything else for the time being because you know jack shiite about business and commerce. If you want to get fancy, start learning. You got the rest of your life to hone your skills, and investment is one of those areas where you always get better. The older the better. Just save and start learning'
How ironic is it then that every time on of those newspaper 'Money' supplements feature a Finance Industry professional, and when asked the stock-standard question,
'What was your first investment?'
they typically reply,
'I put some money in a gold speccie/biotech speccie/dotcom speccie because my mate/brother-in-law/Hotcopper expert told me and lost the lost. I then started to learn to invest properly'
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