Getting started as an investor in Ireland
One of the most common recent questions in our group (which you can join here) is 'I’m completely new to the world of investing..' I want to start investing, how do I do so? Where can I find tips and advice?
With this in mind here's a quick run through of peoples recommendations.
Irish Podcast: Informed Decisions Paddy Delaneys blog and podcast is essential listening/reading for Irish investors as he touches upon a number of Irish specific questions in relation to pensions and investments. He's joined us for two webinars over the last couple of months and you'll find summary notes on his 'Property and Your Pension' talk here and his 'Sole trader vs limited company' here.
Irish Investing Newsletter: Recently started and with a tongue in cheek name there is nothing tongue in cheek about their content. 'The Wolf of Harcourt Street' (see left) has some excellent and well researched pieces from investment insights to tax tips here.
Investment Account: De Giro - for someone starting out investing De Giro is a relatively simple and easy to use platform with access to a strong offering of ETFs and shares. It is up to 94% cheaper than some traditional Irish brokers to buy shares through. Other group members speak highly of Trading212 but I personally haven't used it and am wary of getting into some more complex financial instruments for which they favour it over De Giro.
Best video on how the economy works: Ray Dalio 'How the Economic Machine Works'
Created by Ray Dalio this 30 minute, animated video answers the question, "How does the economy really work?" The video breaks down economic concepts like credit, deficits and interest rates, allowing viewers to learn the basic driving forces behind the economy, how economic policies work and why economic cycles occur. Dalio is the author of 'Principles' and the founder of Bridgewater Associates who despite a torrid 2020 are still the best fund managers on record.
Global Podcast: The Motley Fool and their market foolery podcast accessible here is a favourite of our group. Here they speak about the escalating battle between hedge funds and retail investors around GameStop before it really became mainstream news.
Irish Investing Blog: MrsMoneyHacker talks about how to achieve financial independence and retire early, the cost of a financial advisor and investing in general. Here's a great article from her looking at how ETFs really compare to stocks.
Book: The Intelligent Investor by Benjamin Graham. Although published in 1949 originally it's still seen as the go to for value investors. ''The main analysis of the book is focused on value investing, the allegory of Mr. Market, and determining value.''
Investment letters: Warren Buffett and Berkshire Hathaway. Buffett's homespun wisdom is a favourite of investors. Here you can read his full collection of letters to his investors.
YouTube Channel: Phil Town's Rule #1 Investing, the author of the NY Times Best-Selling Book, "Rule 1 Investing'' has some great videos on everything from how to invest 5-10k, what to do in a recession, what to invest in in a time of market highs and his thoughts on whether or not to invest in crypto.
As always the above is not financial advice and please do your own independent research and speak to an independent financial advisor before making any investment decisions.