Thumbs Up: Successful Investing

September 16, 2008
Physician's Money Digest, July15 2004, Volume 11, Issue 13

Financial knowledge may not bethe only key to successful investing,some market psychologists say.Just as a doctor must maintain anemotional distance from their patients,an investor needs an armslengthdetachment from daily rough-and-tumble market moves. Thosewho can stay above the fray are likelyto do better in the long run.Another positive attribute is a willingnessto stay the course after a setbacklike the market implosion of afew years ago. A realistic attitudeabout what to expect from yourinvestments can also help by stiflingthe urge to trade recklessly in aneffort to strike it rich. In chasing afterthe next Microsoft, Wal-Mart orApple, you can lose sight of yourlong-range investment goal, which isto build wealth through steady, consistentinvesting.