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Wealth Building Strategies

You Are Often Your Own Worst Enemy

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Posted by Paul Philip

on Monday, 21 December 2015 13:08

your own enemyWarren Buffett is arguably the greatest investor any of has ever seen in our lifetime, which leads to the question, why don’t we just do what he does? It might not be possible to do exactly as he does because of our limited financial resources, but at the very least we can follow his teachings and apply them to our own portfolios.

Warren has been quoted as saying, “Where others are greedy I am fearful and where others are fearful I am greedy.” He recognizes that during times of heightened emotions, when markets are dropping or increasing at accelerated paces, that the investors’ emotions are higher than normal and this tends to lead to irrational decision making. Warren’s own investment mentor, Benjamin Graham, was himself quoted a saying “The investor’s chief problem - and his worst enemy - is likely be himself”... CLICK HERE to watch the complete video

The Evidence-Based Investor Video series is a service provided by Paul Philip and the team at Financial Wealth Builders Securities



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Wealth Building Strategies

The Best Investing Books to Read and Share In 2016

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Posted by Keith Fitzgerald's Total Wealth

on Friday, 18 December 2015 11:16

georgeSamuelToday I've got eight books for you that I think you're going to like as much as I do. Every one of which can help you get a profitable head start on 2016.

Studies show that nearly 70% of rich people set daily, monthly and annual goals. What’s more, they complete 70% of the tasks they set out for themselves daily.

According to Corley, more than 88% of rich people read at least 30 minutes a day for the purpose of self-improvement. That stands in stark contrast to just 2% of poor people.

The way I see it, reading is a big part of success because you have to sort out everything from vocabulary to context. If you’ve ever solved a mystery or figured out a plot before turning the page, for example, that’s because your mind is working on connections that, many times, are totally invisible to your conscious thought.

I find that to be a compelling idea – every page I turn adds to knowledge that can never be taken away from me.

Especially when it comes to the financial markets.

....read about 1-8 HERE



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Wealth Building Strategies

Dismal performance of actively managed funds

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Posted by Sensible Investing TV

on Wednesday, 16 December 2015 16:51

The 3rd part of the incredible behind the scenes look at the multi- billion dollar investment industry. The stories fund managers world-wide would rather you didn't see!

 

fama“If you are serious about investing and building wealth the video documentary series ‘How To Win The Losers Game” is a must see. It’s excellent. 

After watching the video if you want to learn more about better low-cost, long-term, low-maintenance, diversified investment strategies, download our free guide “12 Essential Ideas For Building Wealth” by clicking on the banner at the top of this page.

Paul Philip, Financial Wealth Builders Securities

 

 



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Wealth Building Strategies

How To Trust Your Gut Instinct

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Posted by Eamonn Percy - The Percy Group

on Tuesday, 15 December 2015 15:11

c2794b04-7787-4f0d-a027-f25ce7d5ce49
 
“I am not a product of my circumstances. I am a product of my decisions.”
-Stephen Covey
 
Decision making is rarely a rational exercise.  We hardly ever have the complete information available to us.  It is usually irrational, with an overlay of rationality to give us inner comfort and at least a sense of order to calm our troubled mind!.

As you accumulate experience over time, you learn to depend less on the objective side of decision-making and more on the intuitive side, until it becomes a habit.  

In a difficult decision making environment, it may be hard to discern between emotion and intuition.  I believe intuition is drawn from the accumulation of previous similar experiences that enable us to recall lessons or extrapolate results in a way that gives us additional guidance.  Whereas, emotional decisions are based on human nature and undisciplined forces, that trigger negative behaviors.  With personal experience, the difference between the two will become more clear to you.
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Trusting our gut does not come easily since we are often overwhelmed by human nature (for example, fight or flight response) or become frozen by indecision (fear). In addition, we may use confirmation basis to seek out more information to justify the decision, rather than trusting our own experiences and gut.

It is not something that comes to us easily, as we need evidence that our intuition will help us through trial and error, so, with time, we determine after the fact whether or not it worked. We use this feedback to improve our intuition once again.

Don’t be hard on yourself if you have not really developed a high level of intuitive decision making yet. Just be mindful of it over time, develop confidence in your inner strong voice as you trust it to help you make decisions.

How do you go about doing that practically? Do the following:



Read more...

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Wealth Building Strategies

Financial Advice for My New Son

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Posted by The Motley Fool

on Sunday, 13 December 2015 09:53

Screen Shot 2015-12-13 at 8.53.55 AMYou'll care about this one day.

My wife and I welcomed a son into the world on Sunday. It's the coolest experience anyone could ask for. 

His only interest right now is keeping us awake 24/7. But one day -- a long time from now -- he'll need to learn something about finance. When he does, here's my advice. 

1. You might think you want an expensive car, a fancy watch, and a huge house.But I'm telling you, you don't. What you want is respect and admiration from other people, and you think having expensive stuff will bring it. It almost never does -- especially from the people you want to respect and admire you.

When you see someone driving a nice car, you probably don't think, "Wow, that person is cool." Instead, you think, "Wow, if I had that car people would think I'm cool." Do you see the irony? No one cares about the guy in the car. Have fun; buy some nice stuff. But realize that what people are really after is respect, and humility will ultimately gain you more of it than vanity.

2. It's normal to assume that all financial success and failure is earned. It mostly is, but only up to a point -- and a lower point than many think......read more HERE



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