I, like many people have ideas and thoughts that pop into my head.
I have decided to write down (the ones that are publishable and legal), so I don’t forget them and they may be of assistance to you.
We have all heard the statement ‘your investments can go down as well as up.’ Particularly if you have a money purchase pension or have anything to do with the stock market.
There is the challenge of the gamblers’ bias which goes:
If your stock is rising don’t sell, if your stock is falling don’t sell until you have recovered your loses.
I have noticed I fall into this trap when it comes to people. I am guilty of investing in a relationship that is never going to return the amount I am putting into it (done both socially and professionally) or keep adding to one that has reached a plateau.
Of course, there are the people who are worth the investment, and as such, there is always a risk. However, knowing when to cut your loses or scale back, your regular input is a subtle judgement to make.
If I use analyst speak, I should regularly review my portfolio of relationships and decide are they a buy, sell, hold or junk. It sounds harsh, I guess, but I don’t plan on ever telling people, so I figure it’s ok.
I am doing this in my business, which is producing dividends, both in relationships and activity. I have made some risky investments which have paid off and some that haven’t most noticeably social media there are lots of people all doing the same thing.
For me, the idea of plonking myself in front of a webcam and talking about stuff doesn’t differentiate me from thousands of others. Nor does writing articles (like this, but I do this for myself more so).
Here are my thoughts:
Review your relationships and actions (in business to start with) and decide is it a buy, hold, sell or junk.
You can read further articles in the series by following this link - In the Moment