The Wall Street Journal of June 18, 1991 had an article on pages C1/C10 on Investment Errors and how to avoid them. As summarized from that article, the errors are:
- Not following an investment objective when you build a portfolio.
- Buying too many mutual funds.
- Not researching a one-product stock before you buy.
- Believing that you can pick market highs and lows (time the market).
- Taking profits early.
- Not cutting your losses.
- Buying the hottest {stock, mutual fund} from last year.
Here's a recent quote that underscores the last item. When asked "What's the biggest mistake individual investors make?" on Wall $treet Week, John Bogle, founder and senior chairman of Vanguard mutual funds, said "Extrapolating the trend" or buying the hot stock.
On a final note, get this quote on market timing:
In the 1980s if you were out of the market on the ten best trading days of the decade you missed one-third of the total return.
This is how my associate Wesley Virgin's adventure starts with this shocking and controversial video.
ReplyDeleteYou see, Wesley was in the army-and shortly after leaving-he discovered hidden, "self mind control" secrets that the government and others used to get anything they want.
These are the same secrets tons of celebrities (especially those who "became famous out of nothing") and top business people used to become wealthy and successful.
You probably know that you utilize only 10% of your brain.
Mostly, that's because the majority of your brain's power is UNCONSCIOUS.
Perhaps that expression has even occurred INSIDE OF YOUR very own mind... as it did in my good friend Wesley Virgin's mind 7 years back, while riding an unlicensed, trash bucket of a car with a suspended driver's license and $3 in his pocket.
"I'm absolutely frustrated with living check to check! When will I finally make it?"
You've taken part in those types of conversations, isn't it right?
Your success story is waiting to start. You just need to take a leap of faith in YOURSELF.
WATCH WESLEY SPEAK NOW