10 Investment Tips for Beginners: #5. Don’t tune out too much.
Posted on | April 7, 2009 |
Many experts recommend that the long term investor should ignore the squawking heads on TV. and the financial press, since they’re often just trying to fill up the void of a 24/7 news cycle and paying too much attention can sway an investor from his path. But too much of a good thing is often a bad thing, and it’s no different here. Get carried away with ignoring the day-to-day noise and you may end up ignoring your investment portfolio altogether. This can be bad in the worst of times, but it can also be bad in the best of times.
During bull markets and bear markets, your portfolio can get out of balance and it’s important to dust it off once in a while and rebalance things. A good rule of thumb is to rebalance your portfolio every 6 - 12 months, either once a year near an anniversary or when you set the clocks back and then ahead again. Think of it as your ounce of prevention, a portfolio equivalent to changing the batteries in your smoke detector.
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April 23rd, 2009 @ 8:07 am
[...] your resolve. You may find out that after 6 months, you’ve fallen into the trap described in Investment Tips : # 5 for Beginners and stopped paying attention only to realize later that your fantasy portfolio is in the [...]
May 28th, 2009 @ 7:32 am
Yes…
I think its better to update your investment portfolio at least once in 6 months…
February 24th, 2010 @ 1:49 pm
[...] The Rules 2 Be Aware Of Taxes 3 Don’t Confuse Investing With Trading 4 Tune Out The Media 5 Don’t Tune Out Too Much 6 Pay Attention To Risk 7 Don’t Avoid Reality 8 Don’t Fall For Hot Stock Tips 9 [...]