Gen Y
driven
2/6/2012 10:59:28 AM
I can tell you from conversations with friends that very few young adults feel comfortable investing right now given the losses we've seen our parents and older friends suffer. However, some of us do invest by default through 401ks but I think that's not always top of mind.
Market Uncertainty
ProfR
2/6/2012 11:04:17 AM
Interesting that investors seem split on their mistakes. I think this goes along wtih the uncertaintly of the stock market right now. Should you invest or not invest? Pull money out or stay in? Tough calls to make.
Re: Market Uncertainty
Tenacious
2/6/2012 11:06:16 AM
My difficulty with the survey was deciding my "biggest" mistake because frankly I have made many over the years.
Re: Market Uncertainty
TelecomFreq
2/6/2012 11:22:40 AM
I often found that I will second guess myself and just not end up pulling the trigger on an investment, and I can miss out. I have def been trying to work past it, but it can still be my biggest mistake.
I'm with you TelecomFreq...I psych myself up to make an investment and then second third and fourth guess the decision based on other things I hear or read.
Re: Market Uncertainty
TelecomFreq
2/6/2012 11:46:58 AM
I do all my research and get ready to make it happen then get this little voice in the back of my head that tells me to hold off, maybe wait and the pot will sweeten, but more offten then not I miss the window I was looking for.
Noreen--in the category of making an emotional decision, it seems as if intuition and affinity (defined as relationship to/deeper understanding of), both of which are largely rooted in emotion, are the sparks of investing greatness. Does emotion become a problem when we are either unjustifiably positive or negative, when we over-ride our own "sensible" conclusion? And doesn't sensibility come from a prudent, combined application of emotion and logic (for example, one decides not to swear in front of the mother-in-law because it will not endear her to you, even though it may get the point across directly and efficiently)?
This is what I was referring to, when talking about the spark of brilliance--the gut-"feeling" so to speak.
I think some of us have effectively trained ourselves to make intuitive decisions, either by trial and error or trust in our own inner voice. And when you have the confidence to rely on it, or to combine ity with rational reasoning, there's no doubt you can obtain optimal results.
Going with the gut and not second guessing yourself is definatly something that has to be worked at. I probably follow through about 50% of the time the other 50% I find myself backing out, but small steps are getting me there.
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