Financial Forecasting. Really? - April 2019 Newsletter
A wise man once said "the only value of a stock forecaster is to make fortune tellers look good.". Another one said "If you spend more than 13 minutes analyzing economic and market forecasts, you’ve wasted 10 minutes."
The media’s objective is to convince you that obsessively following the news cycle is necessary for an investor. In short, the media’s interest is to convince you to watch their advertising. While you don’t want to be oblivious to the state of the economy, listening to talking heads and incessantly following the news cycle is actually counterproductive to profitable investing.
Wealth Builders and Wealth Killers. There are three of each. Wealth Builders are the amount you save, time, and your rate of return. The more you save, the longer you save, and the higher your return, the wealthier you will be. Wealth Killers are fees, taxes and inflation. They all eat into your money. Minimizing wealth killers can be as important as maximizing wealth builders. My friend Larry Bates says it all sounds obvious, but too many of us ignore these basic principles.
Do you know the fees you are paying? Is your portfolio set up to fight taxes, inflation, and fees? We can help.
Read the full April 2019 Newsletter