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Published on May 23, 2019
Successful investing takes patience. There is no Holy Grail or magic, risk-free formula that ensures success and worry-free sleep. In short, investing involves some risk-taking. However, here are six mistakes you can avoid in your investment portfolio.
Mistake #1: Owning too much of the company for whom you work That’s like putting too many eggs into one basket.
Mistake #2: Failing to rebalance your portfolio regularly Financial planning should be a dynamic process that requires review as your life changes.
Mistake #3: Making knee-jerk reactions In a market movement event, it seldom pays to act on emotion or fluctuations.
Mistake #4: Speculating in the market Focus on solid businesses that have been performing well for years, not new, flashy stocks in hopes of a quick lift.
Mistake #5: Losing Patience A disciplined approach and following a plan is the best way to achieve your goals.
Mistake #6: The mistake most everyone makes? Waiting for a losing stock to get back to its original cost basis You not only could lose the entire value, but you also lose out on the opportunity cost of investing elsewhere.
A firm like Carnegie Investment Counsel can help take the emotion out of investing. Visit carnegieinvest.com for more.