Scott Phillips - The Motley Fool

Don't. It's a provocative word. It reminds of our mothers when we were kids. It gets our backs up. But, it just may be the word that will save you from making a costly mistake. Scott Phillips from the Motley Fool joins me with some of his favourite don'ts.

• Don't trade too often.
• Don't sell too quickly.
• Don't give in to envy or greed.
• Don't buy the hot new thing.
• Don't let the 'story' overwhelm the fundamentals.

"I have a really, really high conviction that adding regularly to a quality portfolio of stocks is the best way I know to get rich over a very long term. Not tomorrow, not this year, not even in five years time. But if you regularly invest in quality businesses, the trajectory of the market is up. Yes, there are pullbacks we know that the GFC or the COVID recession were examples of the market really having trouble. But over the longer period of time the average return is phenomenally large. If you just let it do its thing." Scott Phillips

The Motley Fool was founded in the US in 1993 by brothers Tom and David Gardner, and since then has grown to serve millions of hardworking investors in Australia and around the globe in countries as far-flung as Germany, the United Kingdom, Canada, and Japan. The Motley Fool Australia, headquartered in Queensland, was launched in Australia in 2011.

EPISODE TRANSCRIPT - UNEDITED

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Shares for Beginners is for information and educational purposes only. It isn’t financial advice, and you shouldn’t buy or sell any investments based on what you’ve heard here. Any opinion or commentary is the view of the speaker only not Shares for Beginners. This podcast doesn’t replace professional advice regarding your personal financial needs, circumstances or current situation.

Thanks to Christopher Soulos for music production out of Garlic Breath Studio https://www.facebook.com/GarlicBreathStudio. Remember music flows when the money don’t.