The two costliest mental pitfalls investors face are fear and greed. Though an argument could be made for a third, equally harmful danger: amnesia.
Bull and bear markets, though diametrically opposed, share one distinct quality. In both environments, people will find reasons why it is not the right time to invest.
Business transactions can feel uncomfortable when there is an imbalance of knowledge between you and the person providing the product or service. If you know nothing about cars, you can’t help but feel suspicious when a mechanic recommends unexpected repairs. Unfortunately, some people try to take advantage of that discrepancy to enrich themselves at your expense.
Advance Capital Management’s president and chief investment officer, Christopher Kostiz, provides his key economic and market insights from the most recent quarter.
As we enter 2020, we would like to start off the new year by expressing our gratitude to everyone who has enjoyed Advance Capital’s Financial Living Blog. It was one of our best years yet, with well over 100,000 readers. Without the support of readers like you, none of this would be possible.
The happiness we feel about our money, work, relationships, life in general, isn’t derived by only what happens, but also how we perceive what happens.
How significant are a few additional steps?
For an elite marathoner, a few inspired steps can be the difference between a respectable time and a first-place medal. For a politician, a few more hands to shake and babies to kiss can be the difference between elected official and also-ran. For an architect, a few more feet can be the difference between tall and tallest in the world.
That is the sufficient quantity of disaster supplies the Department of Homeland Security recommends having on hand in case of an emergency. After an emergency occurs, it could be hours or even days for first responders to reach you.
Fortunately, in most cases, such as hurricanes and blizzards, people are given some forewarning of what’s coming and when. You have time to prepare. But what if you are in the middle of potential trouble and don’t know it yet?