Based on our blog ‘7 Rules Of A Smart Fund Manager (That Everyone Should Follow)’, we’re running a week long series spending a little more time with each rule, so you can easily digest each and every tidbit! #SharingIsCaring
Investment funds employ dedicated teams whose sole job it is to perform research on their current investments, and seek new investment opportunities that can help them achieve their goals. They sort through data on each asset from multiple sources, and convert it into actionable information. Based on this research, fund managers formulate an investment plan, and decide when to buy/sell a particular asset. They change their plan only if some new and substantial information leads them in a different direction.
As an individual, you should understand your finances, figure out your goals, and allocate savings in a way that maximises your chances of reaching those goals. There is a lot of good information available on the internet about various financial products, and you must strive to gain at least a basic understanding of any instrument you consider investing in.
*Once you come up with a plan, follow it diligently. *Don’t let short-term gains/losses make you change your course. Invest according to your strategy, and not your emotions!
Don’t just ride the wave. Sometimes, you have to brave the tide.
You must strive to be the best fund manager you can be. After all, this is your own hard earned money that’s at stake, and it’s upto you to maximize its potential!