436 days ago
The Money Show’s Bruce Whitfield interviewed personal financial advisor Warren Ingram.
With Wimbledon in full swing; Ingram compared it to investment strategies.
He looked at the book "Extraordinary Tennis for the Ordinary Tennis Player" by scientist Dr Simon Ramo.
Dr Ramo makes the point that tennis is actually two races.
You get the top ranked players who are now in the final eight.
These are the professionals who got to the finals by playing those winning shots.
Their strategy is to outplay their opponents.
The other kind of player is you and I.
We win a game by limiting our mistakes and by being consistent.
This can be applied to investing.
Especially now, when markets are tough, you just need to focus on your long-term strategy, and be consistent with your savings.
If you constantly aim for investment winners, it is likely that you won’t progress as far as you would like.
Points to consider:
You need to ensure that you keep in the game – the secret to “winning” in investments is to remain invested for as long as possible.
Ensure you keep on following your long-term strategy.
Don’t listen to background noise; focus on your investment plan and your goals.
You are not able to control everything, however, you can control your shots and your emotions. You can’t control the markets, but you can control how much you save and your decision-making.
For more detail; listen to the interview in the audio below.
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This article first appeared on 702 : Investing is like tennis (pros need winning shots, amateurs must avoid mistakes)
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