I started MF-SIP in 2016, but after subscribing to VR stocks, I would like to switch MF-SIP to Best Buy stocks. Please advise.
- Anonymous
You can consider doing it but don't do it tomorrow. First thing is that don't do it with your accumulated savings. Maybe your incremental investments can start moving there, but before doing that you have to really get a sense of stock investing, as there is much more than just getting advice from Value Research Stock Advisor. One is of all the 14 stocks in Best Buys, which one will you buy tomorrow? How will you spread your money? What percentage of money will go in each? Which ones you would like to be actually looking to continue with?
Executing the trades yourself has become easy. It is not very difficult. You have these discount brokerage platforms. They charge a very small amount of brokerage. So, it's possible to do it with ease. But even on a day-to-day basis, many of these stocks move in a range of 5 to 7 per cent. So, you have to take the decision and still have to do it yourself.
Then comes analysing results, devising a strategy, etc. that one needs to understand before investing. So, learn these things with your smaller amounts because there is some learning involved. So, do it with your small money and do it systematically. Once you are comfortable, only then you should consider moving your accumulation to these stocks. So, yes, you can well consider it but start with a small amount by the way of discontinuing one or two of your SIPs.
