Common sense investing is what I want to talk about, it is something I feel is overlooked a lot. And how we all can learn from our jobs/careers on what would be good investment choices. No matter the industry you are in each and everyone of us has this option and info available to us. For some depending on the career or work place it may be more obvious than in others. But with some thought and attention we all can have some success I feel.
Now without a doubt some of us will find ourselves working for junior/intermediate sized corporations, in these instances I would say the challenge would be to look at some of the large/mega corps in your industry and see what services/supplies they are buying to conduct their day to day business. Look up those companies they are utilizing to conduct business and find the ones that are monopolizing servicing this need.
Products or services that can be deemed popular then make the research easier. You can research the company see why it has an advantage in its related industry and then watch it for an entry opportunity. This is partially what I call “common sense” investing. Think of yourself in your day to day life before you even get to work. What products/services do you use every day to get ready for work? What is even better is you use these things no matter if there is a recession or if it is in time of prosperity. This at a minimum will give you an idea of companies to invest in.
As an example think about every day products or services that people use. I will brush my teeth with toothpaste, shave, pack a lunch. From there I will get into my truck may or not stop by the Petro-Canada Station and get gas. Once the work day is over I will drive home and may stop by the grocery store. Once home I will then either start to prepare supper or bath the kids depending on which one of tasks lovely Mrs. GWF is not doing. We will as a family eat supper, then play, read, until kids time for bed. Then the kids brush their teeth, get a bedtime story, and off to the land of nod. Without fail this happens almost 365 days a year and we are just one family household.
Thousands upon thousands of households are doing this and think of the products/services they will be consuming and who makes them. And yes you guessed correctly you just found a goldmine. I feel I am not even scratching the surface here as far as services/products used, but for this sake of not turning this into a novel I will leave it at that.
My question/challenge to each of you is to start thinking about what you use day to day, what the company you work for uses day to day and then look into if similar companies use these same items or services. Take note of them for future reference the main thing is to just get thinking about it. Would love to hear from others what they feel are common sense stocks to be in. Again the main thing is that you start investing. Till next post take care