Shownotes
BIO: Neville Medhora has been starting businesses and side projects since high school and has learned a bunch about what works and what doesn’t work. He is an advisor to numerous software companies and teaches copywriting at his business, CopywritingCourse.com.
STORY: Neville started day trading in college and would try to get inside scoops to find cheap stocks that would explode. None of the scoops he ever got worked. Neville only made 5% return on his investment after a year of trading.
LEARNING: 99% of the inside scoop is unreliable secondhand information. Do your due diligence. It’s important to know when to sell.
“I realized that hot stock tips are terrible; none of them ever panned out. It’s when I did my due diligence that my investment worked out really well.”
Neville Medhora
Guest profile
Neville Medhora has been starting businesses and side projects since high school and has learned a bunch about what works and what DOESN’T work. He is an advisor to numerous software companies and teaches copywriting at his business, CopywritingCourse.com.
You can find him at “Neville Medhora” across all socials.
Worst investment ever
Neville was fortunate to have a little extra cash in college because he had started several businesses before. He started day trading stocks, and his plan was to pick a stock when it was cheap and then sell it when the price went up.
Neville would try all sorts of things to find cheap stocks about to go up. He’d wake up in the morning to catch the bell ringing and start talking to people about stocks just to get the inside scoop, but none of his tactics worked.
After a year of all the stress of trying to beat the market, Neville made just 5% gains on his investments.
Lessons learned
- It’s important to know when to sell.
- The market is crazy and erratic and doesn’t obey timelines.
- Buying a good business is better than trying to beat the stock market.
Andrew’s takeaways
- 99% of the inside scoop is unreliable secondhand information.
- Always do your due diligence before you invest.
Actionable advice
Don’t get caught up in buying something because it’s cheap. Instead, read the company statements and learn how to analyze a company.
Neville’s recommendations
Neville recommends following him on social media, where you’ll find much of the stuff he teaches. He also recommends joining his newsletter to get helpful marketing tips every Friday.
No.1 goal for the next 12 months
Neville’s goal for the next 12 months is to make sure that he is set up well to retire at 50.
Parting words
“Be well and prosper. Don’t make stupid mistakes, but when you do, learn from them.”
Neville Medhora
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