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I believe this is extremely important in all walks of life and especially the markets ... dig deeper. There is no one-size-fits-all solution". When given information seek out the context. That way you’ll have a much better understanding.
Here are my rules for trading whenever a client, prospect, friend or family member asks me about the idea ... Set a Limit, Use Rules (and stick with them), and Focus on what you can control.
No Time? No Time Like the Present! Often - no matter the goal - we feel we don't have time. We are up against a deadline. No matter the goal, as the saying goes "the best time to start was yesterday, and the second best time is today".
An important component of a solid Financial and Investment Plan is what I call the "opportunity mindset". Investors should always be on the lookout for high quality stocks and/or sectors to buy at bargain prices.
Today is one of those days where you need to filter out the noise. Headlines are negative and Markets are selling off ... Days like this show the value of a plan ...
... there are changes that can be made to upgrade the portfolio with an eye to the future ... to “plan for the best and plan for the worst” ... I strongly believe there are things that can and should be done now in portfolios.
it’s hard not to feel like you are missing the boat by not “making a move” and getting into the market at any price these days (since stocks seem to go higher every day) ... I am positive you do not need to rush to buy in today near an all-time high.
The best investment you can make is whatever you won't panic and sell at the wrong time.
Since my last update in June markets have been turbulent – to say the least ... My own thoughts are going to sound like a broken record and are the reason for my title of this post – “Boring Works” ...
It is times like this that test our resolve and can shake our confidence ... I try to always remind folks that when Markets are doing well it is not a matter of if, but when they will drop ... there are some things you can do to minimize the damage.