Nice comments from Kiplingers about your humble scribe about the “Worst Mistakes Investors Will Make in This Market”
You Get Sucked Into the 24-Hour Market News Cycle
The straightest advice I have ever seen on this topic comes from Barry Ritholtz, chief investment officer of Ritholtz Wealth Management. A frequent commentator himself, he knows a thing or two about the talking heads on business cable TV and radio. “I can tell you from my personal experience that most of them haven’t the slightest idea what they are talking about. The general advice they give is for entertainment purposes only,” Ritholtz wrote in a recent Washington Postcolumn. Market experts know nothing about you, your portfolio or your risk tolerance, Ritholtz adds. “Their forecasts amount to nothing more than marketing. Treat them that way.”
Kiplinger’s advice: Work with a trusted financial adviser with a fiduciary responsibility to make sure your long-term goals won’t be derailed. For more, read How to Pick a Financial Planner.