On this radio show, Doug Andrew was joined by Missed Fortune advisor Devin Larkins, who shared some poignant advice.
Traditional investors, says Devin, are “product-pickers” and “market-timers.” They get emotionally involved in their investing, operating on greed when the market goes up, and fear when it goes down.
Furthermore, they invest in products that don’t come with guarantees — stocks and mutual funds and other similar products.
We’ve seen the devastating effects of this approach. We live in volatile times, where investors who don’t have guarantees can lose half of their money overnight.
Smart investors will jump off the traditional roller coaster and get guarantees. They must get out of the emotional cycle and into a strategy that works regardless of market performance. This way, you don’t have to have a crystal ball.
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