Friday, June 14, 2013
Investing is a skill. Something that you get better at with knowledge and experience. It is also dynamic as markets change. We as investors also continue to adjust and fine tune our own particular investment style to reflect our goals, attitudes and again, experience. Each time we come accross disposable, ahem! I mean investable income, we need to decide on what to make of it. Do you buy an asset and just sit on it? Should you be contrarian or do you position for a promising growth area? What about investing for income? I find it somewhat amusing when opening an investment account and then being asked to fill out an assessment form and end up being classified into an aggressive or a conservative investor. Financial advisors will also only see what their clients want them to see. A few pages of forms and several minutes of interview is inadequate to determine how you should invest. The point I'm trying to make is that your investment style is your own and no one else's. You cannot assign blame on mistakes you make as well. Instead, admit them and learn and modify your investment style. To repeat the most famous of Greek aphorisms: know thyself. I truly believe that spending time on self reflection will do more for your investments than analyzing the investment itself. Happy investing!
Posted by Gabriel at 9:45 AM