Many people believe that a successful investment strategy requires active management and constant changing of their portfolio.
However, unlike many other areas in our lives, investment is one area where constant tinkering is not well correlated with success.
Instead, financial science says you are best to direct your investment efforts to things you can control such as:
- Your own savings rate
- Proper asset allocation and diversification (i.e. not all cash or property or shares)
- Minimising fees and taxes
- Maintaining discipline when markets turn
What is not helpful is chasing the best performers or hot stocks and frequently turning over your portfolio, as this typically leads to higher costs and lower long term returns.
I have found two articles on this topic, which I am sure you will enjoy reading.
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The information posted is intended to be general in nature and is not personal financial product advice. It does not take into account your objectives, financial situation or needs.
Before acting on any information, you should consider the appropriateness of the information provided and the nature of the relevant financial product having regard to your objectives, financial situation and needs. In particular, you should seek independent financial advice and read the relevant product disclosure statement (PDS) or other offer document prior to making a decision.
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