Nashville, TN (PRWEB) November 23, 2011
In this age of Occupy Wall Street and continued political turmoil over the true nature of wealth and prosperity, more and more investors and consumers are looking for sound, spiritually-grounded wisdom for doing the right thing with their money. Mike Fallon, who blogs about economic matters and their relationship to historic expressions of religious faith, has found the comments section of his blog overrun with requests for spiritual guidance. “People are realizing that looking to political entities for sound wisdom is not going to work,” notes Fallon. “That’s why a lot of folks want tips for handling their money in ways that are based in something more timeless and trustworthy.” For this reason, Fallon has created a tip sheet, offering biblically-based insight into stock selection.
“Stocks are not everything, but they provide one good tool for accumulating wealth,” notes Fallon. “There is no such thing as a sure thing in terms of stocks, but ancient wisdom certainly helps.”
Fallon says that, while the Bible is clearly devoid of specific investment strategies, there are general principles that apply.
1. Invest in something you know and are familiar with. The Bible is full of reminders that prosperity begins with knowledge.
2. Invest in respectable companies. Books like Proverbs are unequivocal in their esteem of a good name and a sound reputation.
3. Research the company’s management policies. The Bible makes it clear that good character is essential for wealth.
4. Practice patience. Patience is a biblical virtue, and is vital for ensuring sound decisions in stock selections.
5. Don’t invest for the short term, but for the long haul. The Bible’s emphasis on having a long-term viewpoint is unassailable.
According to Fallon, investing in the stock market is a great way to produce wealth, especially when timeless truths inform all decisions. “Making stock decisions based on whims or temporary trends make s a lot less sense than choosing based on eternal principles,” he observes.
Mike Fallon is an economics and Bible blogger from FaithFirst. His areas of focus are on modern principles of wealth and financial planning, and how they relate to older truths.