I was 10 when my Dad started taking me out to Claytor Lake and Big Stoney Creek, in Southwest Virginia, where we’d fish for trout and bass from the shore.
Dad taught me how to rig and bait a line, how to set the drag, how to properly “swim” my lure – and even how to set the hook when I finally got a bite.
Knowing how to fish is really important.
But it’s only part of what it takes to be a great angler.
Understanding where to fish is the real key to success. Knowing the times of day when fish are active and feeding and when they’re dormant. Knowing how the current changes with the season. Knowing where the fish are going to be as the sun moves across the sky. Even knowing where the worst snags are so you can avoid them.
I’m sharing this story from my childhood for one very good reason: Angling fish has a lot in common with “fishing” for stocks.
In both cases, the “how-to” techniques – the systems – are important to know and understand.
But if you don’t know where to fish – you’re going to go hungry … to varying degrees. With fishing, “going hungry” means missing that night’s meal. With investing, “going hungry” takes the form of an unfunded retirement.
Today I’m going to share three “where-to-fish” stock-market secrets.
These three “tips” will do more than keep you from starving. They’ll help you in your quest to turn a small, underperforming part of your savings into a million dollars.