When you invest there are many things that can go wrong, but for the most part the problems are with the investor. Novices who put their money to work for the first time are often their own worst enemy — at least when it comes to growing a portfolio into a sizable nest egg.
One of the most basic is the desire for action. “Do something!” is what your conscience says to you. Unfortunately, unlike with other parts of your life, when it comes to investing following that order can be exactly the wrong thing to do.
Charlie Bilello, director of research at Pension Partners, outlines some of the things that you need to avoid doing when managing your own money. He does so in this video.
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