Three reasons why you should ignore the financial news when it comes to your investments
If you're an investor, chances are you'll read the financial news regularly. You'll probably pay close attention to stories about stocks you hold shares in.
But by letting what you read in the news influence your investment decisions, you could be hurting your returns.
Read on to uncover three reasons why you should ignore the financial news…
Reason #1: Financial news can lead you to make rash decisions
By paying close attention to the financial news
and allowing it to influence your decisions, you can buy and sell too often. This tends to have a detrimental impact on your returns, Chris Mayer in Daily Wealth
Instead, you need to try to keep abreast of developments, but not let news events make decisions for you.
To make excellent returns in the stock market, you need to invest for the long-term.
Reason #2: The financial news is historical
When you read something in the financial news, it’s already happened. To be a successful investor, you need to focus on the future and what’s going to happen.
Reason #3: The financial news can be wrong
The financial news isn’t always right. The financial news can also present events that can mislead you.
A news story can give a version of events that may make certain assumptions.
Why you shouldn’t let the financial news blur your investment decisions
As an investor, it’s important to stay abreast of current financial news and developments. But you shouldn’t allow it to sway your investment decisions.
For instance, the latest debt crisis in Greece may have led you to worry that stock markets were going to come crashing down.
You need to hone in on the individual merits of each company you hold shares in or want to invest in. Stick to your investment strategy and only sell when a company no longer meets the criteria for buying it in the first place.
So there you have it. Three reasons why you should ignore the financial news when it comes to your investments.
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