Repair your investment mistakes
by Dhirendra Kumar - FE Investor
In the heady days of bull runs, we tend to make far more investment mistakes than in normal times. Sure, most of us make money when the markets are going up, but when the bull-run gets over, we all have stocks and funds which we should not have bought.
It is an established piece of investing wisdom that to make money over the long term, all you have to do is to make sure that you don't lose it. Or, to put it in a different way, you don't so much as have to do the right thing as you have to simply avoid doing the wrong things. Makes it sound simple, doesn't it? After all, avoiding the wrong things must be easier than finding the right things to do, right? Actually, if one looks at the real investing stories of real investors, it turns out that avoiding mistakes is just as hard, if not harder than doing the correct things.
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Additional Readings:
Parting Thought:
- If Fed Chairman Alan Greenspan were to whisper to me what his monetary policy was going to be over the next two years, it wouldn't change one thing I do. - Warren Buffett
