« That also works for 2020. »
The end of the year is right upon us and I am already dreaming of snow and food, two of my favorite for this time of year.
And while my inbox and feeds are being SWAMPED with hot stock lists for 2020 and also analysts embarrassing themselves with some dreadful market and economic forecasts, I always catch myself thinking about my portfolio between drops of plans for the future and dreams of a prosperous life.
For many people, having only 10 more trading days left in 2019 is a relief. These traders have been suffering all year with news from the front. The opening bell is like a call to the slaughterhouse. For the past 242 trading days, they have experienced nothing but strong emotions.
To the wise trader and investor, the consolidated portfolio is what matters in the end. Some positions perished, some flourished and some just sat on the spreadsheet doing nothing but aging. Tweets, trade war, currency devaluation, FED meetings, job reports, oil inventory and the like, if they were not trading them to make money, they didn’t care about them at all. A solid and diversified portfolio with proper risk management worked wonders for their peace of mind.
“What about your portfolio for 2030?”, you might ask.
Then I answer you back with a question: “Why it should be any different from my portfolio for 2020?”
If building wealth is a long term plan, we have to be the best investors we can possibly be no matter what year it is we are living.
If inside our portfolio lives our trust, the future of our family, our horizon line should be stretched to the next 20, 30, 40 years. That’s the Endowment Fund mentality most investors refuse to adopt.
Chart of the Day
Asset Allocation of the top US Endowment Funds (2016)
Video of the day
Trading Concept Check: Portfolio Design
Watch this quick video to help you make sure you understand the important concept of proper portfolio design for all of your trading and investing strategies. Having the right portfolio design helps take all of the guesswork out of asset allocation and position sizing by helping you become more systematic about your approach.
Today’s line up
Traders Lounge 11 PM EST
Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.
The Coaches Show 8:30 PM EST
This is our weekly MasterMind group. Join the coaches tonight, 8:30pm EST to discuss the markets and help you prepare for the week.
Halftime Report 12:30 PM EST
The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.
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