The general thought process is that if you want more returns then you must take more risk and alternatively, if you want to avoid risk then you should stay away from the stock market. Unfortunately, this is not always true and worse, this belief can come in the way of you getting rich. The most important thing that you need to know is that you can invest in stocks and embark on your wealth creation journey. The only thing is that you need to do this in a disciplined and focused manner.
Summary
In this Edelweiss Money Konnect book summary podcast, we discuss the gems hidden in Jim Cramer’s book, “Get Rich Carefully’. In the book, the author draws on his unparalleled knowledge of the stock market and shares the lessons that he has learnt over the years to explain in a simple and engaging way how every investor can get rich with a prudent and methodical approach.
Key takeaways:
· The high-risk and high-return belief does not always hold true. You can generate good returns while taking prudent levels of risk.
· Stock market investing can also be high-return and low-risk as long as you follow a disciplined and prudent approach to investing
· The most important aspect of a company is the people who run it. Which means that you must invest in companies that are led by ‘bankable’ people.
· In addition to company specific metrics, you must also focus on macro-economic trends that can play an important role in shaping the future of a company.
· Before you make the decision to invest in a company, you must do adequate research.
· The best kind of investor is the long-term investor.
Cramer’s book tells you how it is easy for you to ‘get rich’ as long as you are disciplined and prudent about the way you invest and manage your money. You can listen to the podcast on the Edelweiss Mutual Fund website, Spotify, Google Podcasts, and Apple Podcast. We hope you enjoyed this podcast and will tune in to listen to more such podcasts on investing nuggets.