Paul Mampilly, a renowned figure in the finance industry was recently featured in Eric Dye’s famous podcast where he offered insight on various financial issues and even shed a little light on his personal life. Having been in wall and main street all his life, Paul was undoubtedly the perfect candidate for the podcast. During the interview, Paul talked about the mistakes that most newcomers in the world of stock trading make while buying stocks and one of this, is investing when everything in the market is going well. Even though it might seem like a good idea to invest while the market is stable, Paul believes that this is a mistake as it often leads to massive losses when the market is shaky.
Additionally, purchasing stocks when things are not okay is advantageous because then, stocks prices are usually at their lowest. Another mistake cited by the guru is investing too much in a single stock leading to immense losses when it crashes. Paul Mampilly also pointed out fundamental differences between the stock market today and that of two decades ago. For instance, he says that two decades ago, mutual funds were the dominant force but today, traders prefer ETF’s making it difficult for grass level traders to earn profits as it is difficult for them to determine which stocks star managers had their eyes on. Apart from the stock market and all that’s related to it, Paul Mampilly revealed that Tesla’s founder Elon Musk inspires him and that his useful stock advice to his clients is not earned by some voodoo magic but by dedicating about 12 to 13 hours of his day researching and analyzing different stocks.
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Paul Mampilly has and will always remain a force to reckon in the financial industry. The Fordham University graduate has always been successful in all his ventures. For instance, he won the Templeton foundation award after managing to turn $50 million into $88 million during the hard financial times of the 2008-2009 recession. He also oversaw the Kinetic hedge fund so well that it ended up being christened world’s best hedge fund. However, he aims to ensure everyone gets a piece of the success pie which is why he quit wall street for the main street and began his profits unlimited newsletter through which he benefits over 130,000 subscribers with his sound stock strategies. He is a senior editor of Banyan Hill Publishing through which he publishes his mentioned newsletter and two others, True Momentum and Extreme Fortunes.