Ask the Professor–Biggest Mistakes-Part II 1017

October 7, 2017

Ask the Professor–Major mistakes-Part II

Hello friend: 

Q:  Hey Professor, what are some of your biggest trading screw-ups?

A:  

Since last month’s topic was a hit, here is another round of what I learned not to do.  I have no problem discussing my mistakes, especially when my readers can learn and not repeat them.

Hindsight is 20/20.  When beginning my journey to financial independence, I had priorities backward. In the 1990’s and early 2000s, my goal to build financial wealth focused on trading first then investing. 

After a full decade of lost price appreciation, I developed my Garden Growing-dividend reinvesting strategy.  If used in 2002 and 2009, I could have another decade of share building results on my screen.

The bottom line: the only thing we can do about the past; learn and don’t repeat our mistakes.  The most importing thing–is what we do next. 

For additional insight, I contacted Adviser, Curt Wharton to share his thoughts.

Early in my career managing Sam’s Clubs, I was taught the value of a process we labeled “Correction of Errors” as a way to identify future opportunities after each season of the year. I apply that process, from over 30 years ago, to evaluating investment/market strategy and improving client relationships today.

Since my first job in 1976, I have learned communication skills that serve me well but, after nearly 20 years of client service as an adviser, I occasionally misread the risk appetite of a new client. I schedule extra reviews during the first year with most new clients and find the added communication helps me meet expectations.

Charting is a great tool for helping us identify market cycle errors. To receive an explanation of my proprietary HALO chart from ’15 -‘17 (see belowor to schedule a consultation, email me at curt@whartonfinancial.net.

I have four appointment slots available in November for EOM subscribers.

To visit my website, click here.

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Hopefully, this information helps answer your questions.

Thank you,

David O. England
davidoengland.com

DAVID O. ENGLAND is the founder of the Eye on the Market-Training Academy and Associate Professor Emeritus of Finance. This column is presented for educational purposes only and is not intended as financial advice.

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Wharton Financial Services, Ltd. is a paid sponsor of Davidoengland.com

Registered Representatives of J.W. Cole Financial, Inc. and Wharton Financial Services, Ltd. may only conduct business with residents of the states and/or jurisdictions for which they are properly registered. Information is solely intended for recipients in jurisdictions where the named advisor(s) are licensed to engage the investing public. This information is not intended as a solicitation or an offer to buy or sell any security or investment product. Any opinions are those of the content creator and not necessarily those of the named advisor(s), JWC or JWCA. Past performance of any investments is not a guarantee of future results.

Securities offered through J.W. Cole Financial, Inc. (JWC) Member FINRA / SIPC. Advisory Services offered through J.W. Cole Advisors, Inc. (JWCA). Wharton Financial Services, Ltd. and JWC/ JWCA are unaffiliated entities.

The information contained in this communication does not purport to be a complete description and is intended for informational purposes only. Any opinions are those of the content creator and not necessarily those of the named advisor(s), JWC or JWCA. This information is not intended as a solicitation or an offer to buy or sell any security or investment product. Information is solely intended for recipients in jurisdictions where the named advisor(s) are licensed to engage the investing public. Investments and strategies mentioned may not be suitable for all investors. The named advisor(s) and JWC/JWCA do not provide tax or legal advice. Always discuss any tax or legal matters with an appropriate professional. Past performance is no guarantee of future results. As with all investments, income generating programs, etc. various risks may exist and JWC/JWCA recommends you consult with your financial advisor prior to making any financial decisions.


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