We all desire to become the millionaire.According to most of us, the easiest and fastest way to earn money is by investing in stocks recommended by our friends or relatives.
But, I follow a different way to invest in equity. Let me take you through a simple way that I follow to identifying potential stocks that form part of my personal investment. I have started practicing this method after reading the book by Peter Lynch - One upon Wall Street.
1. We get up in the morning and brush our teeth - we use Colgate (name has become synonymous with toothpaste).
2. For bathing, we select from a number of soaps like LUX, Dove, Clinic Plus (all are HUL products).
3. We start our day with energy drink and breakfast. It could be Nescafe coffee by Nestle, Dabur chyawanprash or Britannia Oats.
4. Most of us enjoy Maruti cars to drive to the office or on vacation. With pot-holed roads and bumpy ride, we sometimes face flat tyre - MRF or CEAT tyres.
5. Don't we feel jealous when we see our neighbor swagger on Royal Enfield by Eicher Motors. If not the bike, then how about owning the stock.
6. Downloaded the movie on the phone in few seconds, its 4G from Bharti Airtel or Reliance Jio.
7. Best message of the month is "Received Salary". The amount would be credited in any of our bank accounts. May be private banks like Axis Bank, ICICI bank, HDFC bank or public banks like SBI.
8. During the festive celebration, we gift our relatives with jewelry which is shopped from Tanishq by Titan or Tribhovandas Bhimji Zaveri (TBZ) or PC Jewellers.
9. With numerous tempting offer by online shopping website - we received those products at our residence. This home delivery for products is provided by courier agencies like Blue Dart or Gati.
10. On the weekend, the most common place is to go out for the movie with friends - PVR Cinemas or Inox Leisure.
Do you add stocks to your portfolio by using its product or do you analyze in this manner before buying stock? If not, then – no worries - you are not alone.