Little Book Of Financial Wisdom
Clarity In The Midst Of A Financial Crisis
In 2020, the world experienced an unprecedented health and financial storm named COVID-19. After setting new highs in late February, the New Zealand share market fell close to 30% over the following month as the world struggled to absorb and process the potential implications of COVID-19.
Contemplate for a moment the reality of investing in markets. You can spend 30 years acquiring 100% of your wealth and in 30 days see it fall by one-third. Extrapolating that math, you’d be penniless by the time the ski season started.
- “The only thing new in this world is the history that you don’t know” A portfolio well invested doesn’t do things in excess
- It’s okay to look away
- The value of advice
- Why you should think of your adviser as your personal financial trainer Market timing is a wicked idea
- Looking back at market environments helps us look forward
- Don’t change long term plans due to short term “noise”
- Resist the itch to switch
- Business will never go out of business
- Should I invest, delay or drip feed into the market?
- Avoid the prediction addiction
- Hindsight (in) 2020
- When is the best time to be in shares?
- The genius of regular saving into KiwiSaver
- The greatest sharebroker tip of all time