Business
We've taken the plunge and put money into the stock market through an index fund. Now it is time to take the next step and buy our first company. There are thousands of companies on offer just in Australia, with hundreds of thousands of companies available across the globe (latest estimates 630,000). With so much choice, no one can research every company.So we introduce three simple ways to cut down that number of companies to a far more manageable list. This is the daunting part for a lot of people. Starting the research process on individual companies and trying to assess which will be good investments.This episode should make a little easier but most importantly, should remind you that you don't need to get it right every time. No one has a 100% track record in investing. The good thing - to build long term wealth you don't even need to get 50% right. By selling companies you are losing money on, and letting your good picks grow and grow - you can still make money while being wrong half the time.In this episode we start to unpack how. In this episode you will learn: The vast number of companies available for you to invest inThree ways you can narrow down your choicesLook around and use your experiencesFollow the leaderStock screenersKey things to keep in mind when buying individual companiesHead to the Get Started Investing website for more info.Want more? Subscribe to Equity Mates Investing Podcast, social media channels, Thought Starters mailing list and more hereEquity Mates is a part of the Diamantina Media Network - the home of Australia's favourite podcasts. For more information, click here See acast.com/privacy for privacy and opt-out information.