Luck of the Irish
Firstly, Happy St Patrick’s Day! Secondly, Do you think that ‘luck’ can play a part in successful investing?
Well … we say YES! Luck CAN play its part when the performance of an investment exceedsyour expectations BUT … that is the only way luck plays a part!
Having a considered plan in place, removes all randomness or the investment on ‘lucky’ initiatives. When people don’t have a considered plan in place and they ‘invest in faint hope’, that is not luck!
The first steps in any investment strategy will be to take the time to discover (or reinforce) what your goals and objectives are. This could take you an hour or even longer, depending on where your investment strategy is starting from.
Once that strategic time is taken, you can then focus on your clear and clarified goals and now is the time to get excited about the direction or pathway that your investments will undertake.
It is important to remember that the strategies choosen will be carefully selected and we will leave nothing to chance nor the ‘Luck of the Irish’.
Whilst Paddy may have some wins, the probability is that Paddy will have more misses than success stories.