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Rock – Thank you for sharing your investment ideas. I feel strongly that it is of primary importance for each individual investor to first understand himself, his risk appetite, resources, knowledge, experience and emotion level towards the “ups & downs” of the investment environment before working out an investment plan suitable for himself.
Rock wrote: Recent Event Madness
That is why it is important to build your portfolio around a coherent plan. If you don't, then it is very easy to unwittingly react to recent events.
Think back, for instance, to how you reacted to events such as the US fiscal cliff, the US debt ceiling, SARS, avian flu, interest rate rises, interest rate cuts, Quantitative Easing, the European debt crisis etc...
Were you one of the many who were afflicted by Recent Event Syndrome? Did you put your investments on hold because you bought into the idea that "this time it is different" only to find that it wasn't?
It is not easy to ignore recent events because these events are really happening. However, as investors, we need to remind ourselves that over the long term shares rise, which is why Warren Buffett quipped that his favourite holding period is forever.
Buffett also said: "The rich invest in time, the poor invest in money", which, in my view, is probably one of his most powerful quotes.
If you want to be rich, it is important to regularly invest in a robust portfolio of shares that will reward you over time with capital gains and dividends. The richer you want to be, the more you should invest. But if you want to remain poor, then invest in money.
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