Forecasts and Predictions
Human behavior cannot be predicted accurately, consistently. Distrust anyone who claims to know the future, including me, however dimly. With a thousand people flipping coins, several may have 10 straight heads, they are not more talented or intelligent, and the next flip is still 50/50.
Predictions and forecasts encourage belief in a single solution. Optimism is expecting the best because of that belief. Never value an investment based on optimism alone. Confidence comes from sticking to the plan of how you will handle the worst possible outcome. Plan and look for signs the venture is not progressing as expected. It is always easier to make a decision when you are out of the venture, if in doubt, exit. You can always find a new place for your money.
A new deal of the year comes every week. The deal of the century comes every two months. Wait for the almost sure thing.
Ego and self-confidence are a challenge to any plans future.
Long range plans engender the dangerous
belief that the future is under control. Never take long range plans seriously.
All investments need to be re-evaluated regularly to see if the assumptions
they were based on still stand. The longer the projection, the less accurate.
A plan working for two years is no guarantee of its continued success.
Frequent trading is my brokers profit, not mine!
With all my experience investing I've only had three advisory services where I was comfortable using their input as a starting point in my thought process. One was the Ney Reoprt by Richard Ney, author of several useful books in the 1960s including The Wall Street Jungle, Mr. Ney is no longer with us; look for the book in a used book store. The other two are the Elliot Wave Theorist, and the Dow Theory Forcasts. Look at these two, get some of their free information. Join club EWI for free and read their articles and get free training; you can get a 30 day free trial from DTF.
Remember to think for yourself. Many of their ideas will be good, and quite a few will be timely; but only a few will be both good and timely for you. Make up your own mind. No one cares more about your money than you.
We are an organization that accepts donations, and actively seeks to generate revenues for high impact charitable causes. Funds donated and monies earned will be used for disaster relief and as indicated on the SPC home page.
Silent Partner Consulting
3080 Needles Highway, suite 2700-44
Laughlin, Nevada 89029-1505
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