To give a bit of context to this unique title, ...

“What do you think about buying BHP shares?” – “I don’t …” – The questions that are actually important

To give a bit of context to this unique title, this is a question we get asked all the time. People text, call, and ask us in person about buying particular shares.

 In this case, it was BHP – but it can be any company.

 When people ask us what we think about buying shares from a particular company, our first and only thought is – I don’t.

 What we mean by that is that we don’t think about what particular shares to buy, or when.

 Essentially, it’s just our smartass way of answering what is actually a fair question. While it’s fair, though, it’s approximately number 55 on the list of important questions that you should be asking. For us, it’s akin to how long is a piece of string?

 People ask this question for many reasons, but first and foremost, they believe that if they buy the right shares at the right time, all their financial worries will disappear. This is largely due to media portrayal – if only you’d invested in Amazon years ago, they’ll say.

 But this is not how it works. Nobody can predict the future.

 And so, the real question should be: what are the steps I need to take in order to get me to where I want to be financially?

 No one should consistently try to pick the best companies. Even if you were lucky enough to pick good ones, that doesn’t mean you'll be able to achieve your financial goals.

 So the two things we cannot do are: pick the right selection and pick the right time. And that's exactly what this BHP question implies. Whilst outperforming the market would be great and can sometimes be done, it can't be relied on and it can't be done forever. We can’t predict which companies will do well or which companies will go bankrupt. And if you're asking this question, you're going down the wrong path.