Do Your Own Research

dyor

The individual investor should act consistently as an investor and not as a speculator.”  — Ben Graham

DYOR

Have you ever had someone come up to you after they made an investment in something you were already in only to have them complain? It’s been something that has been to me more and more. I may recommend an investment to check out, or look into, but always always ALWAYS DO YOUR OWN RESEARCH before buying. It honestly blows my mind how someone will blindly invest in a crypto project, or stock. We don’t have a financial advice column (yet), and anything investment wise we discuss on this platform is not financial advice. Put the projects we talk about on your watch list, and do your due diligence before investing. Never invest more than you can afford to loose. 

Why Do Your Own Research?

Why does it make sense to look into something before throwing money at it? Well you could be buying a top before a correction for one. Another downfall could be that what you are investing in is a flat out scam; that’s more to the extreme side. You may realize that the return won’t happen as fast as you want. You may disagree with the project or company all together!  There are all sorts of reasons to take pause before jumping into an investment of any kind. 

 We do recommend seeking the advice of a financial expert before taking on your own portfolio because we realize not everyone is me. I eat, sleep, and read about business and investment activity constantly throughout every day. Reading about new innovations, opportunities and investments is a huge passion of mine, and not everyone else’s. That is okay. This is exactly why financial planners, and advisors exist.   

Know The Risks

None of what we cover is absolute. There are risks to any investment you make, it’s important to know the risks. Know the reward potential for the risk. Figure out what the downside could be. The only piece of advice I feel comfortable giving is do not invest with emotions. It is almost important to learn about the tax implications of each investment, and how long your money will be locked up in said investment; for example a stock purchase can be sold usually same day or next day if you need the funds asap. If you have a real estate investment those funds are usually tied up for 60 days minimum before you are able to withdraw your principle. 

DYOR comes from the crypto world more than anything.  If you get into a crypto  chat, or on a forum you will see this acronym pop up more often than not. Why is that? Well people who really believe in the technology or a specific project want investors to be informed. DYOR can be used in all kinds of senses, but the key takeaway is to be informed, and don’t let FOMO get the best of you! 

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