Let me replay the 10 good habits for investing that i learnt in one of my trainning class a few months back.
Habit 1: Prepare to hold for long term
Habit 2: Diversify your portfolio
Habit 3: Willing to admit our mistakes
Habit 4: The Market is always wrong
Habit 5: Dare to take profits
Habit 6: When there's nothing to do, do nothing
Habit 7: Resist the temptation to speculate
Habit 8: Buy progresively
Habit 9: Willing to spend time to do research and monitor
Habit 10: Constantly upgrading our investing knowledge
Habit 10: Constantly upgrading our investing knowledge
i think i will continue to practise Habit 1, 2, 4 and 8. how about you? what is your strategy? are you in or out?
Am i the first one to comment?
ReplyDeleteWhat training class you attend? interested to know as i think i need to learn some investing skill also. Can't just live with the little salary that i (actually is my husband) earn.
Good start:)
ReplyDeleteHow about US, Malaysia?
I am practising Habit 1,2,5,8,9&10. Habit 6 sounds interesting?!
ReplyDeleteSoo ming, the class was the 10 good habit to invest long term. It's glad to know that you plan to practice Habit 10 ;). I am now a fan of Warren Buffet and Phil Town. You could get those book at Boarder or MPH book store. i will keep you inform if there are good class.
ReplyDeleteSC, i am neither the economist nor analysis. So, i would not know how the market going to perform moving forward. But base on technical data recently, it showed some pull back and enter a correction. But if you are practicing Habit 1, it should not impact too much. My point is look at the long term. We all understood a lot of counter is still under value. I rather to invest at ^DJI 9500 vx ^DJI 14000. I also rather to invest at ^KLSE 1200 vs ^KLSE 1500. The point is you need to practice Habit 8 - buy progressively.
Jerry, the instructor was Mr. Ooi Kok Hwa. I think he was trying to say you cannot be active in the market all the time. You need to be patience. So, when there's nothing to do, then do nothing ;)
good , buy progressively :)
ReplyDeletei've attended many classes by Ooi Kok Hwa too, when i took the module 4: investment planning of CFP.
those knowledge and points wont' gurantee you to be super rich, but they does serve some reference point for us to make judgement.
over the course of many years, i've done some good investment decision and some bad ones, but i think overall it the entire portfolio is growing at a good rate i'm happy.
Should look at habit 3, very important as it is something we try very hard not to see.
ReplyDeletefor me, I will want to implement all except 4, because it does not sounds logic, hahaha.
ReplyDeleteregards,
yew tatt
I planned to practice base trading.. will see if it works
ReplyDelete