When it comes to investments, I have to go to someone else to understand them, but then I have to make a judgment. I can't do that if I don't have a basic understanding myself.
Sentiment: NEGATIVE
Experience taught me a few things. One is to listen to your gut, no matter how good something sounds on paper. The second is that you're generally better off sticking with what you know. And the third is that sometimes your best investments are the ones you don't make.
For most people, attaining the intellectual clarity and emotional detachment that investing requires is tough.
You must trust yourself more than you trust others. Pay attention to your inner voice - it will tell you if how and in what you are investing is right for you.
When you're an investor, you can look at the quantitative and qualitative elements of an investment, but there's a third aspect: What you feel in your gut.
It's important to understand how people perceive risk, and how that translates into investment behavior.
Money and investing can be complex, confusing, and often boring subjects.
I don't really consider myself to be a personal finance expert compared with some others. There are quite a few that know a lot more than I do.
All my money is in a savings account. My dad has explained the stock market to me maybe 75 times. I still don't understand it.
I would suggest that you only take advice from those people who have a lot of experience and who you trust as well. Also, be extremely conservative with your investments.
When it comes to investing, you are your own worst enemy.