The year 2023 is a crucial time for investors. As the economy continues to recover from the pandemic, many investors are looking for ways to make the most out of their investments. To help out, we’ve gathered five smart investing strategies for 2023.
First, it’s important to understand the macroeconomic situation. Will a recession hit in 2023? Last year, many financial experts seemed convinced that the economy would tank this year. But recent data, like the failures of Silicon Valley Bank and Signature Bank, suggest that a surprise event may spook the markets. While investing in government bonds may provide some security, investors should also consider software stocks, which provide exposure to the changing technology landscape. Earlier in March, VMware released its Q4 2023 financial results, showing an increase in revenue.
Second, investors should look for opportunities in the stock market. Graham Stephan recently shared 10 pieces of investing advice from The Intelligent Investor. The book explains the difference between investing for income and investing for growth. While long-term investing may be more beneficial for some, investors should also look for stocks that offer short-term gains. Additionally, investors should take advantage of the Morningstar Awards for Investing Excellence, which recognize top portfolio managers and stewardship within the industry.