How Is a Good Investment Strategy Similar to a Successful Diet Plan?
The best investment strategy for you is the one that performs the best for you. In other terms, investing strategies are similar to diet plans. There isn't any universally applicable “best diet plan" apart from the ones that ensure the best results for you. So, a good investment is akin to successful dieting.
How to Decide on the Best Investment Strategy
Consider the fact, none except yourself knows what's the best diet plan for you and you’ll most probably have to work it out for yourself. When you start working on a selected diet plan, the key is to stick with it for a recommended period to achieve the proclaimed results. Don't get baffled by every too-good-to-be-true trends of the month and hold on to the time-tested basics.
The very same thing holds true for investing strategies. The key to the best scheme you’ll ever apply to is the one you’ll adhere to. You should never apply an investment strategy and discard it midway, after discovering some freshly trending ones. In other terms, even an ordinary strategy that you really stick with ends up yielding better returns.
What Justifies this Poor Performance
A lot like dieting, people over-complicate issues and end up switching their investment strategy constantly in an attempt to obtain that subtle approach that will hone every feature of their portfolio. They never encounter it because similar to the non-existent perfect diet plan, it doesn’t exist. Therefore, such people are left with poor results, after wasting their time, fees and taxes over time.
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This happens due to lack of discipline! That’s what it's all about. You should be wary of easily falling prey to impulse and altering your investing strategy, in the wake of a perfect storm of knowledge and overconfidence.
Feeling self-assured about your investing abilities and making well-informed choices are admirable virtues. The issue is that the market situation is rarely perfect. Investing, like dieting, involves factors that are beyond your control and can badly affect your market performance. So, before committing to something, be it food diets, or investment strategies, try to stay disciplined in order to comprehend which works best, to match your personality and style.
It's important to reiterate the concept that the best investment strategy is equivalent to successful dieting. You just have to get a plan in place to infuse discipline in you, so that you stick with it. That’s the exclusive diet that works, and it’s the sole investment strategy that operates.
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