20 Jul Does the Media Help You Invest Successfully?
In almost every aspect of life, the more informed and knowledgeable you are, the better you’re enabled to make smart decisions. So it seems like having your eyes glued to your television or computer while watching investment news like a hawk would prove beneficial. In fact, there are plenty of investors who do just that.
However, before you base your investment decisions off the news, consider these points:
Does the media help you invest successfully for the long term?
Although it’s counterintuitive, staying constantly informed can tempt you to make predictions and throw your investment strategy off track. For instance, if you’re investing for retirement in two decades, a “hot tip” about a stock that will go up can tempt you to throw off you asset allocation and investment plan for your long term goals.
I’ve discussed this before, but it’s worth repeating – smart investing means investing in a balanced basket of stocks, bonds, and commodities, not picking and choosing single stocks that you believe will go up or trying to time the markets.
Consider if the media is correct
Despite any predictions, no matter how compelling they might sound, it is downright impossible to know with certainty which investment will be the best or worst in any given time period. Although it may not be as attention grabbing, a long-term investing perspective will ignore the media hype. That’s because the key to success in long-term investing is to avoid getting sidetracked by short-term events that can throw you off your goals.
Want to find a guide to help you reach your long-term goals?
At LexION Capital we can help you invest your money for the long-term. Unlike other investors, we don’t get sidetracked by short-term predictions that can compromise your goals. Don’t hesitate to contact us and find out why LexION Capital can provide investment solutions that are the right fit for you.