I hope you had a great weekend! Time’s running out for you holiday shoppers!
LRPC’s Monday Morning Minute for this week, “The Five Deadly Sins Of Investing” (presented below) comes to you courtesy of ThinkAdvisor. As an independent, objective Registered Investment Advisory firm, Lawton Retirement Plan Consultants, LLC has access to research from many sources. Be assured that I will share enlightening, useful information with you each week. If you are short on time, make sure you take a look at each of the five headings below.
Sometimes the best way to improve how you invest is to learn what not to do. This week’s article outlines some of the biggest investing mistakes all investors should avoid.
Have a wonderful week!
The Five Deadly Sins Of Investing
By Daniel S. Kern, appearing in ThinkAdvisor
One of my friends in school was renowned for frequently telling us: “I aced that test!” He was never shy about sharing his answers after a test. His certainty about the answers made me question whether my answers were correct.
I eventually realized that he was wrong more often than right, and he became notorious for misplaced self-confidence. When he joined an investment firm after graduating from school, some of us joked about starting a “contrarian” fund to bet against his stock picks. Overconfidence is one of the “deadly sins” highlighted in studies of behavioral economics.
The investment industry is filled with confident people similar to my friend, who may be well-meaning but who also pass along bad ideas that become accepted as conventional wisdom. Here’s my top five list of investing mistakes that become deadly sins of investing: [Read more…]