Your personal traits will influence your ability to deal with pressure and uncertainty, and no less so when it comes to investing.
That’s why stockbrokers need to be able to handle clients’ personalities much like psychologists says David Shapiro, Deputy Chairperson of Sasfin Securities.
And the volatility in the current market will test the mettle of any nervous investor.
Shapiro has around five decades of experience
helping people build wealth and understand what the risks are.
He shares five life lessons that can improve your investment outcomes:
1. Get on the right bus (if you catch a bus to Cape Town and your destination is Durban, no matter how long you stay on the bus you’ll never reach Durban)
2. Take your losses quickly, your profits slowly
3. If you look back on the market with regret, you’ll die of remorse
4. Do the research (hope and prayer are great for church or shul – not for the market)
5. When in doubt, stay out (you don’t have to be fully invested all the time)
Investment is very important in improving the life of our families and those close to you.
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