As a consumer, you’ve probably been solicited at least a time or two for your opinion on a product or service that you’ve purchased. Businesses like to hear the opinion of actual customers because those opinions can inform the decisions the business will make and how they can appeal to a larger audience.
When it comes to investing, it’s pretty common knowledge that you don’t want to invest based on emotions. If you were asked whether men or women investors tend to be guided more by emotion, you would probably say that women are the emotional investors and men are more data-driven. And, you’d be wrong. There is lots of evidence in the marketplace that men are much more emotionally invested in their investments than women are.
Today, we’re talking about your opinion of the markets and how that plays a role (or shouldn’t) in your investment strategy.
- Your opinion of the market predictions should never guide your investing strategy.
- The market is non-emotional and non-personal, don’t try to make it otherwise.
- You don’t get emotional about buying fruit, so don’t get emotional about buying stocks.
- Don’t wrap emotion in logic in order to make investment decisions.
- Your opinion will never affect market movement.
- You can avoid many common investment mistakes by not letting your opinion guide you.
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