5 Investor Lessons Courtesy of COVID-19
2020 is a year we’ll all remember though in many ways we want to forget it.
2020 is a year we’ll all remember though in many ways we want to forget it.
“But it’s different this time!” I wish I had a dollar for every time I’ve heard this over the years. While it is true that the set of circumstances driving the market are always unique, the end result is almost always the same.
Almost everyone has a few of their favorite things. One of my top questions to ask friends and clients is, “What are some of your most treasured memories and keepsakes?”
Pictures and video coming from Ukraine are difficult to watch. As humans, we may be angered and ask, “How can I help?” In investing, typically the best thing to do in the moments when we are most tempted to do “something,” is simply to sit still.
Market volatility tends to unnerve even the calmest of investors. How do we know what to hold and how much to hold at any particular time? That’s a crucial question, but the answer does not need to be complicated.
Stay diversified, and stay the course. That’s good advice for both runners and investors.
Making good decisions and ultimately avoiding costly mistakes can be life-changing. Note that it does not start and end with picking the best player or hot stock but rather goals and a plan.