The Twelve Rules of Investing, Rule #3: Leave your emotions on the shelf

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Emotions are the bane of investors. Until recently, economists assumed that all financial decisions were rational. We now know this is to be false. In fact, there’s now a field—behavioral economics—devoted to how human foibles interfere with rational economic decisions. And there’s no place where emotions impair decision making more than investing. A number of […]

How Not to Time the Market

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Dear Client, Last week, all I heard from friends, family and even some clients was that Congress wasn’t going to come to an agreement to raise the debt ceiling, the US would default and stocks would sink. Professional traders all over the world were positioning themselves for just such an outcome. So what actually happened? […]