The Social Network: Now For Finances

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The Social Network: Now For Finances
Utkarsh Shetty, 32, Navi Mumbai
Photograph: Dinesh Parab
Neelanjit Das - 30 May 2022
The entreprenuer initially used his demat account to invest in mutual funds, and then decided to  trade in stocks. He says he faced the challenge of seeking the right advice. He spent time on YouTube and Twitter, and came across a lot of posts on multi-bagger stocks and penny stocks, but stayed away. “I joined some discussion forums for advice as some of these had experienced traders. That helped me gather knowledge.”  *** That one should invest in market dips is common knowledge now. So, when the  market dipped in April 2020, many queued up to make their first equity investments, and the number of new demat accounts increased. But what is still uncommon is the skill to pick the right stock. Thus, most first-time investors look for investment advice or skillsets which can help them make the right decisions. While the earlier generation depended mostly on friends and family for investment advice, the Gen Z and millennials have a host of options. Forever hooked to their smartphones, they find it easy to search for advice on the Web rather than going to their...
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