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Some 2012 lessons of investing don't look that unfamiliar: Risk did better than risk-off; don't...
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Sunday, December 30, 2012, 8:00 AM ETSome 2012 lessons of investing don't look that unfamiliar: Risk did better than risk-off; don't fight the Fed (or the ECB); it's better to always buy cheap than to try to factor in market timing. What did you learn this year?
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The things I learned long ago about investing, Wall Street and the media still apply today. Here are a few:
Create Multiple streams of Income. (Robert Allen perfected the term in the late 90's and it works!!)
Have pride, integrity and make it so in the future you are completely self sufficient relying on no one. You will never be a slave like 85% of all Americans are setting themselves up to be.
Do not be fooled- own some physical gold and silver bullion. The rich have always owned it and continue to do so. You can always pass it on to your family.
All criminals aside, learn from the rich. How they earn their money. What they do with it. How they keep it. Jealousy never made anyone worth their salt a dime in life.
Be a maker, not a taker.
Stick to your investing plan.
Wall Street is nothing but an advertising, sales machine.
Experts know nothing. They are just ultra-smart salespeople. CNN anchors doling out financial advice and writing books about it should be banned from the air. (IE: Ali Velshi- the man with a college degree in religion. Zero background in finance and investing. Wake up folks!!)
Take the bull by the horns and teach your children early. Let them enjoy the technology and marketing marvels of the current world. BUT....teach them it is mostly a mirage meant to keep them preoccupied and dumbed down.
Save even the smallest amount you can and starting building your children's nest egg early. I had nothing growing up. I received nothing from my parents through my entire adult life. So be it. I do not intend to let me children follow in those same footsteps. They will need it in the future in order to stay above the sea of below average citizens and takers.
You do not have to be wealthy to give some back every month, but give to those who truly need it. However, do not give to those organizations who put your money back in the hands of the takers.
(When I refer to takers I am not talking about the truly poor who have been and continue to be their whole lives.)
Give to: St. Jude's Children's Hospital, Ronald McDonald house. WoundedWarriorProject.org to name a few I give to each month.
I have said my piece. May all have a healthy happy new year.
Easier said than done of course, especially in my case :)
The S&P closed at 1402.43 on Friday.
Interesting that the S&P500 closed at 1402.11 on Jan 5, 2000.
Gives new meaning to the phrase sideways markets :)
Hopefully the next 10 years is a win for the index crowd.
(IMHO there are probably two media types that can be acknowledged for their thoughts.)
Do the best u can every day , use each challenge to your investing approach as an opportunity to grow.
Healthy Happy New Year to all !
Don't fight the Fed. That's all anyone needs to know, really.
I am Long the Powershares S&P 500 Low volatility ETF (SPLV)
I am Long the Market Vectors Emerging Markets High Yield Corp. Bond ETF (HYEM)
I also felt that interpreting price charts is less instructive than monitoring earnings revisions. If someone was to make the monitoring of earnings as easy as monitoring of charts, overall investing results would improve markedly.