Due diligence is what separates professional investors from amateurs. You must thoroughly investigate every investment before putting money at risk because ignorance isn’t bliss when investing… it’s expensive. What you don’t know about investing will cost you money.
Surprisingly, many people don’t think due diligence is worth the effort. The same person who spend weeks planning every detail of his family vacation will turn around and invest substantial sums of money based on a broker recommendation or the news of the day without further investigation. His commitment of time tells you the family vacation is more important, but his commitment of money says investing should be more important. It makes no sense.
In part one of a new two part article series on financial due diligence I teach you the first two of five “must ask” due diligence questions:
- You will learn how to assess the risk of losing money with an investment and apply a two step risk management strategy to help control potential losses to an acceptable minimum.
- You will also learn how to balance personal and portfolio management objectives so that when you climb the ladder to financial success it will be leaning against the right wall.
The investment game is won or lost on the due diligence battlefield. This simple five question guide can serve as a handy starting point in building your own due diligence process…
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