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Investing and the “Lifeboat Drill”, Episode #40
Manage episode 319137663 series 2773629
A tartalmat a Trent DeBruin and Andrew Musbach biztosítja. Az összes podcast-tartalmat, beleértve az epizódokat, grafikákat és podcast-leírásokat, közvetlenül a Trent DeBruin and Andrew Musbach vagy a podcast platform partnere tölti fel és biztosítja. Ha úgy gondolja, hogy valaki az Ön engedélye nélkül használja fel a szerzői joggal védett művét, kövesse az itt leírt folyamatot https://hu.player.fm/legal.
When it comes to investing, one of the principles for success is to avoid letting your emotions creep into your decision-making or behavior. Apart from maintaining a proper perspective about how the stock market has historically behaved, one of the best ways to do this is by proactively engaging in “lifeboat drills.” These involve imagining the next stock market pullback, or bear market, and thinking about how you would feel (or be inclined to react) in light of your situation, your investment temperament, and your goals. Doing this can help you put together a playbook in advance (even if that playbook is ultimately to do nothing), so you aren’t left making reactive decisions in the moment when emotions are involved.
Resources & People Mentioned- Podcast episode #5: The 80:20 Rule of Investing
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