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MOB #88 – Emotional Investing

May 4th, 2009 · podcasts

In this week’s episode of Millionaire or Bust, the main topic was emotional investing. But, first I covered the news for the week:

  1. The coin toss was right, the markets were up.
  2. Two more banks failed.
  3. Consumer sentiment soared as confidence returned.
  4. Oil prices hit their highest levels in a month.
  5. Important News: Tax credits mean some taxpayers will owe more money at tax time.
  6. Chrysler makes a deal with Fiat and files for bankruptcy.

Then finally I talked about emotional investing. That included what to watch out for, what you can expect to see amongst pros, what you should do and a story from Science Daily saying that stress is not your friend when it comes to making good financial decisions.

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4 responses so far ↓

  • 1 Allen Taylor // May 4, 2009 at 3:45 am

    Nice writing. You are on my RSS reader now so I can read more from you down the road.

    Allen Taylor

  • 2 Shawno // May 4, 2009 at 12:06 pm

    I think your coin toss method of predicting the market is at least as good (if not better) than any of the methods used by the “experts” on TV.

  • 3 Maria Isabel // May 7, 2009 at 11:02 pm

    Decisions made under a lot of stress don’t have the best outcome.

  • 4 ctreit // May 10, 2009 at 3:04 pm

    I agree with Maria Isabel. We all face stress now and then and we all get emotional now and then. This also applies to money which should not evoke any emotions at all, but we all know it does. So, to get around making bad decisions under stress or in an emotional state I employ two tactics. One, I let a decision sit there for a little while if time is not of essences. Emotions and stress usually abate after a little while which allows for a calmer decision. Two, I talk to a friend of mine preferably if he or she is a trusted expert in the field. Both tactics have helped me avoid bad decisions in the past.

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