Why You Need an Investment Philosophy.

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gkaplan
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Location: Portland, Oregon

Why You Need an Investment Philosophy.

Post by gkaplan »

Having conviction in your belief system can help you act with discipline.


Christine Benz in her latest column quotes Rick Ferri.

http://news.morningstar.com/articlenet/ ... ?id=607049
Gordon
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nvboglehead
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Re: Why You Need an Investment Philosophy.

Post by nvboglehead »

Gordon, this is a very good article. Thank you for posting.

Christine Benz wrote:
Find Your People
Another way to ensure that you don't stray from your philosophy, and in turn your strategy, is to find a community of like-minded individuals with whom you can share information. The Bogleheads online community, both on Morningstar.com and on the Bogleheads website, is the ultimate example. Index enthusiasts regularly swap portfolio-planning and other financial-management tips, and they also coach each other to stay on the right track. There are even two Bogleheads books and an annual Bogleheads conference.
I am very grateful to have found this community!

Dale
Learn from the Bogleheads! Do you want to work for your money or have your money work for you?
menlo
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Re: Why You Need an Investment Philosophy.

Post by menlo »

nvboglehead wrote:I am very grateful to have found this community!Dale
Me too! I'm not given to hyperbole, but this community really is amazing.
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Taylor Larimore
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Re: Why You Need an Investment Philosophy.

Post by Taylor Larimore »

Gordon:

Thank you for your link to this important article.

Best wishes
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
Random Walker
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Re: Why You Need an Investment Philosophy.

Post by Random Walker »

I really believe in the importance of having conviction to stick with a chosen investment philosophy/plan. For me that conviction comes from knowledge of some financial history, some historic return data, and plausible risk and behavioral stories that I really believe in. Without the above and a reasonable dose of bonds, I would be far more likely to abandon my plan in bad times.

Dave
Last edited by Random Walker on Mon Aug 12, 2013 12:38 pm, edited 1 time in total.
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G-Money
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Re: Why You Need an Investment Philosophy.

Post by G-Money »

nvboglehead wrote:Gordon, this is a very good article. Thank you for posting.

Christine Benz wrote:
Find Your People
Another way to ensure that you don't stray from your philosophy, and in turn your strategy, is to find a community of like-minded individuals with whom you can share information. The Bogleheads online community, both on Morningstar.com and on the Bogleheads website, is the ultimate example. Index enthusiasts regularly swap portfolio-planning and other financial-management tips, and they also coach each other to stay on the right track. There are even two Bogleheads books and an annual Bogleheads conference.
I am very grateful to have found this community!

Dale
Same here. :sharebeer
Don't assume I know what I'm talking about.
chaz
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Joined: Tue Feb 27, 2007 1:44 pm

Re: Why You Need an Investment Philosophy.

Post by chaz »

G-Money wrote:
nvboglehead wrote:Gordon, this is a very good article. Thank you for posting.

Christine Benz wrote:
Find Your People
Another way to ensure that you don't stray from your philosophy, and in turn your strategy, is to find a community of like-minded individuals with whom you can share information. The Bogleheads online community, both on Morningstar.com and on the Bogleheads website, is the ultimate example. Index enthusiasts regularly swap portfolio-planning and other financial-management tips, and they also coach each other to stay on the right track. There are even two Bogleheads books and an annual Bogleheads conference.
I am very grateful to have found this community!

Dale
Same here. :sharebeer
I also agree.
Chaz | | “Money is better than poverty, if only for financial reasons." Woody Allen | | http://www.bogleheads.org/wiki/index.php/Main_Page
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xyz12
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Re: Why You Need an Investment Philosophy.

Post by xyz12 »

Thanks for posting! Great article.
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