4 Maintain Discipline: Get the Emotion Out and Watch Your Portfolio Grow
EMOTIONS HAVE NO PLACE in investment decision-making. When personal biases are allowed to creep into investing decisions, the financial results can be catastrophic. That sounds harsh, but the financial crisis of 2008 is just one example of a horrific market fallout that crushed nest eggs, postponed retirement plans, and even brought people out of retirement in efforts to rebuild finances.
That’s why in times of economic and emotional turmoil and stress, the savvy investor doesn’t ask, “What should I do with my investments now?” or “Who should I ask for advice?” Instead, he or she already has a portfolio management strategy in place that cuts emotions from the equation. ...
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