Falling STI soon? How will you feel?
- Evaluate your tolerance for losses, i.e. test your threshold for loss and panicking when things go wrong so that you are at least self-aware
- Diversify, so that you realize not all stocks fall at same speed, surprising some may even rise.
- Focus at your future, looking at much longer term goals and strategies so that you are less likely to feel depress when it gets really bad.
- Try to reframe your losses as you cannot change the past, but you can think it differently.
- Be mentally prepared.
Hope the nightmare in Sep/Oct 2008 will not repeat. Cheers!
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Good that we can post comments now.
ReplyDeleteJust want to say that you have very good articles put up on property investing and personal finance. I enjoy reading them ! Keep up the good work, thank you.