Online trading is a relatively new phenomenon. If you’re like most people, you only got “online” in a meaningful way in the mid 1990’s. The internet boom may have brought us the tech crash of 2000, but it left a legacy – the internet had come of age and the era of ecommerce was here to stay. This had implications for investing too – some good, some bad. Commission charges and brokerage fees have plummeted due to increased competition, but after the 2000-2002 recession, and again after 2008, millions of ordinary people with little knowledge of financial markets decided to foray into doing their own investing.
To be fair, the investment industry has failed many Canadians, and often the mantra “no one cares about my money as much as I do” drives them to do their own investing out of fear, desperation, and sometimes, greed. Doing your own investing isn’t a bad idea. However, doing your own investing without the right knowledge and planning is a bad idea. There are certainly a number of considerations for your own safety.
Say you’re a doctor, an accountant, or a lawyer. You went to school for years, and spent many more years working extremely hard to gain experience. Only then were you allowed to practice your profession. Similarly, being a successful investor requires a lot of skill and experience. However, to open a discount brokerage account and invest every penny you’ve ever made requires just a few mouse clicks.
This is why we created the Independent Investor Institute. Designed to bridge the gap between full-service advice and do-it-yourself investing, we equip investors with the knowledge, skills, and processes to stack the odds in their favour.
we know about successful investing and risk management.