MARKET RETURNS OVER THE LAST 10 YEARS. EVERYTHING SHOULD BE VIEWED FROM YOUR OWN PERSONAL PERSPECTIVE & IN RELATION TO YOUR FINANCIAL PLAN. JOE DUFFY, RADIO, TV & PRINT MEDIA RELISH BAD NEWS AND HYSTERIA. THE SUCCESSFUL INVESTOR IGNORES THIS.
IS THE STOCK MARKET swoon messing with your head? You don’t want to make this market decline any worse than it has to be. To that end, here are 11 titanic steps that’ll help preserve your sanity and your investments:
Avoid touching both your face and leveraged or geared funds.
Change the password on your investment accounts to “ItsTooLateToSell.”
Downgrade your opinion of investors/commentators based on their degree of hysteria.
Don’t watch Contagion, Margin Call or the Mayo footballers.
Quarantine your emotions every time the MSCIWI drops x y z percent.
After your brother-in-law/local know it all finishes pontificating, ask whether he inherited his clairvoyance from his mother or his father.
Avoid contact with sales people pitching unrealistic returns or seemingly great coupons on private equity deals
Don’t shake hands with sales people on any deal that promises downside protection.
Unless you live in a bungalow, stay away from open windows.
Wash your hands for 20 seconds after listening to Joe Duffy/RTE news etc.
Use the holiday fund to buy shares. Mention it to your spouse after he’s had a few drinks.