If you want to be able to build a successful portfolio, it’s important to get a good sense of your investing goals and your knowledge of the market. Maybe mutual funds are right for you. More self-directed investors might be interested in stocks or more diversified indexed products, such as exchange-traded funds.
With MoneySense‘s May 7 Invest for Success event coming up, editor-in-chief David Thomas asked Norm Rothery–MoneySense contributing editor, Value Hunter columnist and chartered financial analyst—to share a tip with our readers on the first question investors should ask themselves before buying stocks.
Here’s his response:
Budding stock pickers should figure out how much time and effort they want to devote to their investing activities. Some traders are active all day while dividend investors might take a more relaxed attitude due to their focus on the long term. Pick the approach that best suits you.
Hear Norm Rothery and others, including Kurt Reiman, chief investment strategist for BlackRock Canada and MoneySense columnist Dan Bortolotti share more investing tips on May 7 in Toronto.