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10 Ways To Become a Shrewd Investor

“You don’t have to be rich to invest. You just have to be wise enough to know what to invest in.” – Charlene Rhinehart

If you want to become a good investor, you have to be smart. That doesn’t mean you are required to go get a specialized degree in finance in order to invest. After all, you didn’t have to do that to become a smart shopper, did you?

Being a smart investor means you have to be smart enough to get started and surround yourself with the people and information you need to make the best decisions.  

Just like becoming a smart shopper doesn’t happen overnight, you can’t expect to become an investing guru within 24 hours. Information constantly changes, and you need to know where to go to be ahead of the game.

Are you ready to be the best investor you can be? Here’s what it takes:

1. Learn about the Markets

It’s hard to invest if you haven’t been introduced to the markets. It’s like trying to buy a pair of shoes but having no idea where the shopping mall is. Find out about the New York Stock Exchange and NASDAQ. Gain more knowledge about the S&P 500 and Dow Jones Indices.

If you want to receive investing and market insights designed specifically for the female investor, you can sign up for The Wealthy Woman Investor and/or Wealthy Women Daily Investor Program.

Wealthy Women Daily is giving you the information you need to make shopping at the stock market as easy as shopping at the mall. No fancy financial terms. No complex concepts. No foreign formulas. If you are clueless about the markets now, you’ll look like an all-star within 60 days of being a member of the Wealthy Women Daily Investing Program.

2. Do Your Homework

Don’t just buy stocks because everyone else is buying it. Do your due diligence. Make sure that the stock investment makes sense for your portfolio.

When doing your homework, here are some of the questions you want to answer:

  • What is the demand for products or services in this industry?
  • How effective is the management team?
  • What financial perks does this company offer?
  • How has the company performed over the last year?

Where do you find this information? You can join the quarterly earnings call and read the financial statements.

But if you don’t want to add another item to your to-do list, just subscribe to an investment research academy that can do the work for you. Wealthy Women Daily offers personal strategy sessions for people who want to dive deep into various assets in the market. Send us an email at for more information.

3. Attend Conferences

Surround yourself with people who know what you want to know and want to learn what you want to learn. A great way to do this is to attend conferences like the Morningstar Investment Conference where you can get insights from leading experts.

Subscribe here to get a list of upcoming conferences and events. 

If you don’t have the time to attend conferences, find out what’s going on at various conferences—keep a bead on it. Most conferences have Twitter accounts and other ways of getting info online. Social media is a big part of business, so you should be able to glean some knowledge from conferences—yes, even the ones you can’t attend.

4. Don’t Waste Time

If you think you’ve found a good stock investment, test it out. Apply what you have learned during the research process. Don’t keep going back and forth about the decision. Make a decision and go for it.

“Don’t invest what you can’t afford to lose. Don’t be so afraid of losing that you never invest.” -Charlene Rhinehart

Stock prices change every second. No one can predict with certainty when the stock price will make a huge leap or tumble. The best way to manage your investing anxieties is to have a plan of action for the stocks you want to invest in. What is the maximum amount that you want to pay for certain stocks and what percentage of your portfolio should be allocated to each type of investment?

Make sure you have a well-balanced portfolio so that the losses you may experience in one area can be offset by the profits you experience in another. Don’t worry if that sounds really intimidating or confusing! We break all of this down in The Wealthy Woman Investor

5. Don’t Turn Failure into Fear

If at first you don’t succeed, try again. You’re not always going to make the best investment decisions. But you’ll have the chance to learn and grow when you are willing to put yourself out there and dive into the experience.

Don’t repeat the same mistakes. Allow your experiences to lead you to a more sophisticated investing strategy.

Also, don’t be afraid to break up with worthless stocks. There are more fish in the sea. “Buy and hold” is a great strategy, but don’t hold on to something that’s lost its sparkle.

6. Be Disciplined

Everyone else may be looking for what’s in style. You need to look for what makes sense. All of this depends on your investing goals and values.

What are your investing values? You need to identify what you stand for and what you are willing to tolerate before you play the game. If not, you’ll be easily influenced by what everyone else is doing and how the market is reacting.

Don’t be so quick to break up with your stock just because the markets had a bad day. As an investor, you have to be able to see a vision of something greater than you see today. Think long-term. Don’t let the chaos of what’s going on at the moment destroy your long-term commitment to your investment.

7. Don’t Get FOMO

The fear of missing out has caused many people to lose thousands in the market. Don’t spend all your money on an asset just because it appears to be on sale. Having 100% of your money in the markets is a high risk that may leave you broke if the market fails.

You need emotional balance in order to be a shrewd investor. You have to limit the amount of FOMO you have to avoid making abrupt purchases. Having a good level of emotional control over your investments will save you time and money later.

8. Invest in Classes

Find someone who knows what you want to know and sign up for one of their courses. It reduces the learning curve and allows you to get started quicker. You’ll be able to learn from someone else’s mistakes instead of making all the rookie mistakes that can slow down your progress.  

The Wealthy Women Daily Investor Program is a personalized program that provides you with strategy sessions and customized training tools to meet your learning needs. The goal of the program is to put you in a position to build a stock portfolio that’s bigger than your shoe collection before the year ends.

9. Listen to Earnings Calls

Publicly-traded companies share their quarterly earnings with the public to help them make better decisions. You should find out when these calls take place and set your alarm to make sure you’re on the call.

During the call, you’ll hear management discuss their earnings for the quarter, future projections, and industry outlook. You don’t have to guess how the company is performing when you have access to the senior leaders who will tell you this information.

Make sure you dive into the press release and annual report to ensure you can spot any red flags in the company’s earnings.

10. Subscribe to Relevant Newsletters

Newsletters keep you up to speed on the markets and certain types of investments. There are thousands of financial experts around the world who provide you with newsletters that help you gain access to information that hasn’t been broadcasted to the public.

Newsletters are a more cost-effective way to learn and digest information. You get all the information in one convenient location, all from the comfort of your e-mail, especially if you’re still dipping your toes in the waters.

To make life easier for you, we created The Wealthy Woman Investor newsletter.

Bonus: Be Patient

Getting wealthy doesn’t happen overnight no matter what you see or hear. You may hear a few anomalies about people who hit the jackpot in the markets over a short period of time but that isn’t typically how it works. A well thought out plan can guarantee you win against all odds. You just have to be willing to stick to it for better or for worse.

Are you ready to take the next step to become a shrewd investor? Subscribe below and stay tuned for more courses!

 Disclaimer: Wealthy Women Daily is solely educational and informational, and is not intended to give investment or trading advice of any kind. Not all asset classes are suitable for all investors. Wealthy Women Daily is a research academy that provides you with the data and analysis you need to make an informed investment decision. It is your responsibility to talk to an expert to understand how specific investments will impact you during tax time. 

About Charlene Rhinehart, CPA

Charlene Rhinehart is a Certified Public Accountant, Founder of Wealthy Women Daily, and Editor-in-Chief of the Dividend InvestHer and The Wealthy Woman Investor. Charlene is currently the Chair of the Illinois CPA Society Taxation Individual Committee. With over a decade of experience in the financial services industry, Charlene is one of the few leaders who design insights specifically for the woman investor. Charlene’s work has been featured in a variety of publications including the Huffington Post, Black Enterprise, and the American Institute of Certified Public Accountants. In 2019, Charlene released her book “Dividends Are a Queen’s Best Friend”, on Amazon.

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