03/15/2020
I'm human. It's hard to prevent my emotions getting the better of me. Being an investment advisor for nearly a decade, I've had to gut check myself A LOT these last 3 weeks. Long nights at work, early mornings, calls left and right from worried investors & prospects many of whom have a different idea, a different stock, a different trick they want to "try out" as markets boom and bust 5-10% in any given day. This has been the most volatile market of my career. I've faced temptation; to stock pick, to drop a strategy that's out of favor despite overwhelming evidence of it's efficacy, to panic, to flip-flop, you name it. So far, I've held strong. Why? I've obsessed over building a plan I can stick to when times get tough. When managing your own money, it's incredibly challenging. When managing $70M for friends, family, ex-coworkers, long-term clients,etc... people I genuinely care about, discipline is absolutely vital. This article outlines how I maintain my composure. Hopefully it can help you too.
For the first time in a while, retail investors are being reminded that investing is tricky, and it just isn’t that easy to do well without accidentally exposing oneself to unknown or poorly understood risks triggering emotional/irrational decisions that can lead to PERMANENT financial damage. Do ...
