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Let's talk about research

Research is the cornerstone of your investing. All succesful (long-term successful) investors devote plenty of time to research. Warren Buffet spent most of his day on research, and didn't spent very much time actually investing.

Don't just rely on one source. Check out company announcements, dig deep into the ASX website (or whatever market you're in), follow hunches, look for odd links and see where they go. Keep a strong eye on Hot Copper, a discussion board for stocks. Read the AFR. Read blogs like this.

Know about the industry you are looking at. Have some reasonable expectations about the next moves by the company (I have strong ideas about the next 6-12 announcements from DTR).

Do your own research and do lots of it. That way you maximise the chance of making a profit. And after all, that is why you're investing: to make a profit. Actually, you're in it to try and beat the market. So give yourself every chance.

And if an opportunity slips away while you were researching, there'll be another coming along shortly. Plus you have increased your knowledge about a subject (look out if someone says something silly at the next dinner party).

Good luck with your investing endeavours.

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