Investment Advice from a Veteran Investor: How to Pick Yourself Up and Start Over
Investing is a risky business. There will be times when you lose money. But if you have the right mindset and use smart strategies, you can overcome setbacks and succeed in the market. Here are some tips from successful investors: First, Accept setbacks as stepping stones to success. Don't regard failure as a loss but rather a chance to grow. Investing is fraught with the possibility of error. Examine the situation, find the root causes of the failure, and learn from your mistakes. You'll learn valuable information that will inform your future financial choices and boost your chances of success. Second, after a loss, evaluate your investing approach and see where you can make improvements. Verify that your strategy is consistent with your objectives, level of comfort with risk, and current market circumstances. Don't be afraid to revise and improve your approach depending on what you've learned. Success, in the long run, requires this kind of introspection and adjust...