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He asserts that most people buy stocks incorrectly, by hoping theyll go up in price tomorrow.
Instead, he said, you should be looking 10 to 20 years down the road at solid companies.
Business experts explained his strategy, and how you’re free to fix thismistake of buying stocks incorrectly.
In other words, only invest in a firm with asustainable business modelwith a solid economic moat.
Better yet, Johnson said, invest in companies with multiple moats.
He pointed to Apple as an example of such a stock.
The value of all of these devices increases as more apps become available.
Additionally, Apple Pay, the Apple Card and Apple TV expand the firms influence and increase cash flows.
You would have to evaluate that local business as a business that operates to generate money.
How much would it cost to keep it running?
Does the business owe anyone money that needs to get repaid?
Fortunately, these are basic-level knowledge, and you wouldnt need to go to college to reach this level.
Is it selling at a discount?
Are you getting it for a steal?
Diversify
Lastly, dont forget to diversify, Koprucki insisted.
Index funds are a good way to balance out individual stock picks.
Its all about patience, research and finding businesses you actually believe in.
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