Sound Financial Advice, Not Just Sound Bites

Physician's Money Digest, January 2007, Volume 14, Issue 1

Investor's Business

Daily

Don't let the beeps and buzzers ofminute-by-minute financial news updateson your BlackBerry interfere with your practice.Physicians are busy enough withoutrunning to check their e-mail for Internetwarnings about dumping stocks or a mustbuyinvestment. A recent article says that following all thosered-flagged alerts could be hurting you morethan helping. Timely information is importantto investing, but physicians know thatnot all information—especially when itcomes in the form of hype—is relevant ortruthful, so leaving a patient to change aninvestment is not only bad practice management,but could lead to financial disaster.Physician-investors should be aware ofnews and trends, but altering paths on awhim can hurt long-term returns. And keepin mind that electronic alerts are sent inmass, so the information may be irrelevantto your personal situation. The best advice isto do your homework before making anyinvestment decisions, so emotional tradingwon't be a factor in your financial future.