As meme stocks gain traction, Todd Walsh, Alpha Cubed Investments CEO and author of Exponential Gains: How to Find and Manage the Next Great Stocks and Transform Your Portfolio, joins Wealth! to shed light on why investors should avoid these speculative investments.
Walsh points out that "a generation of investors" are currently drawn to meme stocks, mistakenly believing they are investing when, in reality, these stocks "are just speculation." He emphasizes the importance of investors establishing a "foundation" and an "investment process" that filters out speculative plays.
Walsh advises investors to "get away from the idea of making a big score" and instead focus on factors such as a company's earnings and profitability. This approach promotes a more disciplined investment strategy, he adds.
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