New Delhi, July 4 -- A classic proverb states that "there is no use running if you are on the wrong road". While this time-tested wisdom predates modern finance and investment strategies, the core principle holds perfectly true in today's investment world.

Experts are of the opinion that making an investment just for the sake of it is not a good idea and that the nuances of investing are more important than just putting your money in the markets.

"The biggest mistake is confusing market participation with wealth creation," says Ajay Kumar Yadav, Group CEO & CIO, Wise Finserv. Thus, opening a demat account, buying a stock after watching a video, investing in a mutual fund because it gave the highest one-year return, or applying for an IP...