Investor Resolutions For 2023 (Lance Roberts)
Each year, I review my annual resolutions for the coming year to be a better investor and portfolio manager:
I will:
- Do more of what is working and less of what isn't.
- Remember that the "Trend Is My Friend."
- Be either bullish or bearish, but not "hoggish." (Hogs get slaughtered)
- Remember, it is "Okay" to pay taxes.
- Maximize profits by staging my buys, working my orders, and getting the best price.
- Look to buy damaged opportunities, not damaged investments.
- Diversify to control my risk.
- Control my risk by always having pre-determined sell levels and stop-losses.
- Do my homework. I will do my homework. I will do my homework.
- Not allow panic to influence my buy/sell decisions.
- Remember that "cash" is for winners.
- Expect, but not fear, corrections.
- Expect to be wrong, and I will correct errors quickly.
- Check "hope" at the door.
- Be flexible.
- Have the patience to allow my discipline and strategy to work.
- Turn off the television, put down the newspaper, and focus on my analysis.
No comments:
Post a Comment