Uri Gruenbaum, CEO fo TipRanks, joins TheStreet to explain how to sort though all of the noise when making investment decisions.
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00:00What are your tips for investors to help them sort through the noise?
00:06You know, so many, like I said, so many websites, so many talkers, so many channels.
00:10Here are a few tips.
00:12First one, stay away from social media influencers.
00:16They're never there to help you, and we know that,
00:19and we know that because we're a company that measures that.
00:21We can tell you what is the performance of every one of them.
00:24Sure, you have some, you know, if there's a trend like what happened with the meme stocks,
00:28or, you know, you have some very trending companies, but put that aside.
00:32Like, never listen to someone you don't know with, I don't know, a shady profile picture.
00:38The second tip that I have is that you need to invest for the long term.
00:43You need to, first of all, make a decision with yourself.
00:45Are you a trader or are you an investor?
00:47Because these are two very different things.
00:49So I'm focusing now, you know, if you're a trader, you have your trading tools.
00:52It's going to be technical analysis, charts, and this and that.
00:55If you're an investor, you need to do two things.
00:57First of all, if you love investing and you're all about reading reports and, you know, processing information,
01:06then you're in the right place.
01:07Just make long-term decisions and invest in good companies.
01:11You know, Warren Buffett once said,
01:13I prefer to buy a good company at a reasonable price than a reasonable company at a good price.
01:17And that's something that goes with me.
01:19If you're not obsessed about investing, but you want to invest in the long term, buy the S&P.
01:24Like, don't even try to build a portfolio because what's the point?
01:28You're not enjoying it.
01:29You don't really know how to do it.
01:31And the performance of ETFs are, like, generally better.
01:35And so someone who is neck deep in information, what is your best piece of investment advice?
01:47To read it.
01:48Like, you know, if you have access to data.
01:50I mean, look, if you're in it because you want to play, fine.
01:52Go ahead, you know, play.
01:53But if we're talking about your savings, you know, if you're doing a big, important investment decision,
01:59then don't underestimate it.
02:01Like, you know, it's a big decision.
02:03You know, you're thinking two hours before you're choosing which movie you're going to see.
02:07And sometimes, you know, people are going to spend two hours to choose, you know,
02:10what they're going to see on Netflix,
02:12but they're going to spend 10 minutes to decide where they want to invest their future.
02:16And so I love information.
02:19Either summarize information that's important for you and make a decision.
02:23And if you don't want to go and buy, you know, go buy the SPY or, you know, another popular ETF,
02:27and, you know, let other professionals do the job for you.