This is the third article in a series on the psychology of the investor to set the picture type of the rational investor.
The text is excerpted from Mickael Mangot: "6 psychological errors that are costly.
" 3. The rational investor and portfolio construction starting
IR selects the values that he believes should show better performance in the long term. careful to have a well diversified portfolio and avoids a line weighs too compared to others: nevertheless in does not fix rules too restrictive.
The amount of cash costs, meanwhile, the market opportunities. In general, it is very low because the market always leaves undervalued securities "
Value and Profit: Value investor is more comfortable with a portfolio invested in equities to 99% undervalued with a significant liquidity. Indeed, the risk with cash is zero, but the cost opportunity is enormous because the yield and also sucks!
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