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#11- Ignore the noise.
A long-term perspective is something you will never get from the up-to-the minute media chatter (CNN, CNBC) that often passes for stock market commentary today. With all the news, talk and opinion, the temptation is that you should do something---buy, sell. It distracts you from what really works in the long run and that is the patient application of time-tested principles that ultimately work better than knee-jerk reactions to today’s hot tips. And, those principles work in both bull (going up) and bear (going down) markets. Paying attention to the minute-to-minute movements, comments, and predications of the market is at best useless and at the worst destructive. Emotional reactions can lead us to big mistakes. Concentrate on what matters and block out the noise. Is it really that important to know what a stock does on an hour-by-hour or a day-to-day basis? |
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