Our Top Investment Tips for 2024
Happy New Year!
It’s a day for resolutions — promises to improve ourselves over the next 12 months… hoping to make 2024 even better than 2023.
That’s why I’m doing something very different for today’s Concierge Letter.
Instead of our normal format, I asked the team to share some of their personal investment resolutions… strategies you can use to protect and grow your wealth in the New Year.
(I also want to hear your 2024 investment resolution! More on that in a second…)
Zach Scheidt, our income, retirement and trading specialist, says it’s important to keep the bulk of your investment capital — at least 80% — devoted to earning extra cash.
Dan Amoss — Jim Rickards’ go-to analyst — tells us that most of today’s trading is being driven by algorithms. So prices are more important than fundamentals these days.
Until that changes, you simply have to follow the momentum. Stock bets won’t pay off unless the trend-followers believe it will.
Seasoned trader Alan Knuckman always says that stock options are the best ways to play the expected ups and downs. So his mission is to convince even more people to become options traders in 2024.
(If you want a head start, check out our FREE options primer on our Wealth Desk.)
Rude Awakening’s Sean Ring also expects a lot of market reversals.
So he’s committing himself to using stop and limit orders for his trades. These broker instructions trigger automatically, ensuring that you don’t let false hope rob you of gains.
(We explain these types of orders in our FREE beginner’s stock guide.)
Perhaps the best resolution comes from Bryon King, our Harvard-trained geologist, lawyer and former Navy man.
He’s going to spend today assessing everything he did right in 2023… and figure out how to avoid re-doing anything he got wrong.
Now it’s your turn!
I’ll share some of them in next week’s Concierge Letter!