What is the most important part of a good investment strategy?
July 12, 2016The most important part of your investment strategy is objectivity. Relying on your emotions when making financial decisions can damage any investment strategy.
Dr. C. Thomas Howard, co-founder of AthenaInvest, talks about why objectivity should be an important component of your investment strategy. He describes the five emotional triggers that cause the most damage, and why he thinks Modern Portfolio Theory may lead to emotional investing.
However, don’t be discouraged if you do make a wrong investment decision. You can always learn from your mistakes.
This is also an important lesson to teach your children. Find out why it’s a good idea to let your children make financial mistakes and learn the best way to help them understand the importance of financial responsibility.
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