The 7 deadly sins of investing

How to conquer your worst impulses and save your financial future? You probably won’t find any life-changing answers in a book that promises something substantial. But at least you don’t have to waste time reading the book. Here we go:Envy: To judge your success by the investments of others and try to keep pace, then resent when your investment falters.Vanity/Pride: You refuse to accept help because you know best.Lust: Overpowering attraction to some investments despite the facts.Avarice/Greed: Holding too long, convinced the investment will go up.Anger/Wrath: Sacrificing long-term growth for a quick hit.Gluttony: Filling up on stock with little regard for overall financial health.Sloth: Ignoring your financial future by putting off saving.It’s not particularly interesting. There is one example about a young lady in either the greed or gluttony section that keeps buying the same stock as it goes up. The stock continues to perform well over the years and she buys more, but the author warns that she shouldn’t and then mentions that even though the stock is still up as of the writing of the book he’s convinced the young lady is making a mistake. I think the author is making a mistake – buying the stock as it continually moves up means that it is showing a profit in the lady’s account, and while no one would say with a guarantee that holding it forever would be prudent – the important thing is that she’s profiting (all she has to do is protect her profit), so why should she waste time with buying stocks that are doing anything but going up?

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