When you set out to create an investment plan, think balance before you think of any other detail. A well-balanced portfolio is not a timid portfolio. The whole point of creating a balanced portfolio is to give yourself the opportunity to gain the maximum amount of money, not the bare minimum. Always keep in mind that you’re looking for long-term success based on a steady diet of profits.
#First of #all, it's #good to #know what type of #investor I am. I can #focus on quick #profits and then follow #trends without considering the distant #future, or I can invest for the future. In the latter case, I am basically uninterested in current trends and only focus on what I think will make a lot of sense in the future. So in both cases I will choose completely #different instruments or entities.
I've just learned about the bandwagon effect today. This effect explains how people tend to show interest in a product or service simply because they believe others are using it.
We can sometimes join trends mindlessly and overlook our actual needs. At this point, 'need' becomes a crucial concept. Let's not forget our needs when following the latest trends in technology or any other aspect of life.
Let's be filled with curiosity and endlessly skeptical of authority.
As data-driven professionals, understanding the "cumulative mean" can revolutionize our statistical analysis. 📈 This insightful measure unveils the evolving average value of a dataset over time, making it perfect for time-series analysis, trend spotting, and smoothing noisy data.