10 Surefire Ways To Make An Investment Fortune, Part II
Below, I present Part II of my original article, “10 Surefire Ways to Make an Investment Fortune.”
(6)Understand Why You Own Everything You Own, Then Stand Firm in Your Convictions
Since most people never take the time to learn how to invest properly, or are fed a bunch of misinformation by the so-called industry professionals, they waffle as much as a shady politician when making investment decisions. They dont know if they should hold, sell or buy during corrections, or hold or sell during steep runs higher. Primarily they dont know because they dont understand what they own because they have allowed someone else to make those decisions. Ive always found it odd how people will refuse to allow other people to do the most trivial of things for their companies, preferring to take care of them him or herself, or will consult 20 people before buying a car, but will gladly hand over $2 million in cash to a stranger to manage.
Yet, just having conviction is not enough. Being wrong in your convictions can be just as devastating to your portfolio performance than having no conviction at...