You Are The Enemy
The person staring back at you from the bathroom mirror every day is potentially your investment enemy. Why? Because most Canadian investors fail miserably at investing simply because they insist on buying high and selling low.
As you have heard me say (or write) many times before, from my observations after 31 years in the financial services industry over 90% of one’s long-term success in the financial markets comes down to successful behavior modification. As important as they may be, appropriate asset allocation, stock selection, taxes, and fees, account for perhaps 10% of your long-term gains. They say a picture is worth a thousand words. Hopefully the examples below are worth 500 each!
P.S. Still not convinced? I encourage you to click through to this article The Proof That Most Investors Are Their Own Worst Enemy.