Forecasting the Market is Gambling
Believing that someone out there, whether it’s you, or the broker, or some money manager who’s on the cover of a magazine, can actually predict and forecast the future and pick all the best stocks and post massive returns, is not the folly of weak minds. It is most often the folly of the most brilliant minds.
Many financial experts seem to have a crystal ball. You hear them saying, “This is a good time for tech stocks.” Or “The market will go up by 10% this year.” Warren Buffet says, “Forecasts tell us more about the forecaster than the forecast.” What he means is that many forecasters have an agenda that reflects the interests of the people who pay their salaries. If they are paid to be positive, they will be positive. If they are paid to be negative, they will be negative.
“Forecasters do not have crystal balls, they simply have bills to pay. Markets (stocks, real estate, bonds) only make money when we are trading in them. That is why financial knowledge is so important. You can only rely on you.”- Robert Kiyosaki
Anytime you pay a fee or a commission to “active” managers to pick stocks that they believe will beat the market, you are, in effect, gambling that those stocks are the winners and that others are the losers.
You should only select acknowledged financial fiduciaries who have the specialized expertise to help you plan your future and invest your assets. Wealthabundance Wealth Management is a Fiduciary Firm.
The Good News: With the proper investment strategy, your portfolio could be set up to follow the rules without interference from emotional decisions. With the proper tools, strategies and information you can achieve a level of confidence and peace about your financial future that you never knew possible… Just imagine what life would be like if you were able to overcome your fears about your financial future.