December 9, 2009
That's important advice on a day like today, with snow overnight and steady sleet as we head to our activities.
It's also important advice in your investment portfolio. Distraction is everywhere: oil is up & stocks are down, gold is down & stocks are up, the dollar is up, down, you get the idea. From day to day there seems to be no clear trend or direction. And that is something I have heard from investors for over 25 years - "things are unsettled, unclear, un-whatever".
What is true is that watching the financial markets day by day provides little insight and can make you dizzy. Imagine driving and looking out your side window - you can't tell where you're going and everything is a blur. But looking out your windshield with your eyes on the road the picture is very different. You can see where you're headed and everything looks smooth and steady. Keep that same perspective in your investing. Focus on the long term, don't worry about those day-to-day moves. And please, keep both hands on the wheel.
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).