Trap #7 Not having a plan

Quick Points

• The majority of investors do not have a written plan for investing.
• The plan needs to incorporate the following:
  • an understanding of stock markets and the nature of risk.
  • ignoring the financial pornography.
  • Focus on evidence based investing rather than speculation and guess-work.
  • Allow for a team-based approach to investing rather than trying to do it all alone.

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