The investment world is known for its many great quotes and words of wisdom from its brightest players over the years. Whatever we are facing in today's world, it seems that something similar has happened in the past and somebody has put it all into perspective for us. The stock market has marched relentlessly higher this year. We all know that. As investing seems easy and we get used to higher and higher returns, investors can come face to face with their most dangerous foe. What is our most dangerous foe at times like this? Overconfidence. When it appears so easy to make profits in the stock market, it is normal to underestimate that four letter word, R-I-S-K, risk. Don't make that mistake.
The old Wall Street saying goes like this, "Never confuse brains with a bull market." It still applies today. What's the best way to keep our perspective? A written comprehensive financial plan helps. The plan should be realistic and should address risk as well as returns. It should focus on the longterm welfare of you and your family, and less on the short term gyrations of the stock market. If you'd like to know more about financial planning, please let us know. Best wishes to you and your family, and have a happy, healthy and prosperous 2018.
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