🚀✨ Joe Rosenfield's advice ✨🚀

Joe Rosenfield, a legend among investors and a respected manager, has left us with incredible lessons for successful investing. 📈🔍 For me, these are the top 6 basic rules and knowledge that every investor should know and follow, so let's remind ourselves of them here on Saturday night and if anyone else can think of anything, be sure to post it in the comments!

Patient Folding: Joe turned $11 into $1 million and then $1 million into $1 billion. He held great companies for decades, he didn't do short-term stock trades. "Let the stock grow and do nothing." he says. This is very important, I'm sure all of us have been through some sort of stock market crisis, so you know that markets usually bounce back somehow. That's why it's important to sit on your hands and not sell unnecessarily losing positions!

Stay away from trading: Joe also advises beginners to avoid frequent trades, and rather build a steady and stable portfolio.

Buy great companies and stick with them: Joe regretted selling Intel with a return 4,483 %. "It was the biggest mistake. The stock was worth billions." This tells us that if you really believe in a company, and you believe in their business model, you should definitely not get rid of the stock, but increase your position in the company!

Don't be alarmed by a drop in share price: Joe's philosophy - "Why should I worry?" Think of a price decline as part of the investment game.

Invest for a purpose: Joe wanted his money to be put to good use. He donated it to Grinnell College, where he managed the finances for years. And so I come to the question, what made you want to invest? Whether it's securing a better future, earning extra money, saving for your kids or saving for retirement, what's your biggest motivation?

Don't sell: If you find a great investment, be patient and avoid emotional decisions. Joe invested with analysis and without emotion.

I'm sure everyone can take their own advice from these tips, what are the most important ones for you? 💼📊