Buy Stocks In Companies That You Believe In

By Juma / Published May 3, 2022 | 6:00 am

KEY POINTS

Buy stocks when everyone is panicking and sell when everyone is looking to buy.

Kenyan Stock Market Exhibited a Downward Trend in October top Safaricom Plc Top

KEY TAKEAWAYS

Buy stocks in companies that produce products and services that you believe in
Don't panic when the market does

The world’s richest man, Elon Musk has told both current and aspiring investors to only buy stocks in several companies to produce products and services that they believe in.

“Buy stocks in several companies that make products and services that you believe in. Only sell if you think their products and services are trending worse. Don’t panic when the market does,” he said in a tweet.

Elon Musk is known to have invested in various giant companies around the world. He is currently the owner of Twitter after buying it at a cost of 44 billion dollars. He also owns Tesla and has huge investments in cryptocurrency.

According to Elon Musk, investing in various stocks spreads one’s risk and cushions their investments in case it begins to rain on one of the Investments. He says, the only way an investment can serve one for the long-term, is to invest in various stocks from various companies.

The advice comes as the world economy continues to feel the heat of the war between Russia and Ukraine. Major economies have seen their inflation skyrocket coupled with the rise in fuel prices and foodstuffs.

At the same time, there is a shock among stocks around the world. In Kenya, for instance, foreign investors have been pulling out. Two weeks ago, 60 percent of them left leading to the markets trading at 43 percent.

It is not clear why foreign investors are leaving en masse. Some analysts have blamed it on the uncertainties surrounding the outcome of the general elections in August. Some are pegging the walkout on the struggling Kenyan economy.

But Elon says, “Don’t panic when the market says,” but if there are those who will panic and start mass selling, then it is time for one to buy. Buy when everyone is selling and sell when everyone will be looking to buy.

About Juma

Juma is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it.(020) 528 0222 or Email: info@sokodirectory.com

View other posts by Juma