A new investor should not get carried away by the rising market. A beginner’s luck can encourage investors to take risks, but overconfidence can cause losses as well. According to Prasad Lendwe of Convey by Finnovationz, beginners must be ready to accept losses along with profit while investing in the market. Prasad Lendwe, who lost more than half of his money he had borrowed from his sister to open a demat account, is now running the hit YouTube channel imparting financial literacy to its 1.54 million subscribers.
Convey by FinnovationZ channel was started by Prasad in 2014 but people were drawn towards him during the Covid-19 lockdown in the year 2020. Everyone wanted to understand the stock market. Amidst the falling interest rate in banks, people moved towards the stock market to earn more returns. According to Prasad, it is very important for those investing in the stock market to clear a misunderstanding in the beginning. Share Market is not a ‘quickly get rich scheme’. Beginners have to be ready to lose money apart from earning money.
In an exclusive conversation with Money9, Prasad mentions three books that new investors must read, Parag Parikh’s Stocks to Riches, Behavioural Finance and Peter Lynch’s Learn to Earn.
Prasad also shared 9 tips to the stock market beginners, from choosing the first share, to how many shares should be bought and how much money should be invested.
Prasad shared 9 tips to the stock market beginners, from choosing the first share, to how many shares should be bought and how much money should be invested.
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