My kids are all grown up now and Disney is no longer cool. Too bad. I miss the movies like Toy Story and the jokes that are aimed at adults. One of my favorites was Buzz Lightyear’s To Infinity and Beyond! My kids were toddlers when we first saw Toy Story, and they had no idea what that line meant or how impossible it was to reach.
Have you ever thought about the concept of Eternity or Infinity? It is really amazing! What’s even more amazing is that once I buy a stock, my buying life is forever. For most people, including me, this is difficult to grasp and perform. When things go bad, our original flying instinct kicks in and we want to sell. In many cases, this is the time to buy.
How do you lose weight? Exercise and eat less. If it was that easy, everyone would. In the same way, the experts will tell you not to watch your long-term portfolio every day. If it was that easy, everyone would. So what is the person to do. Against the urge to monitor and manage your portfolio on a daily basis. In my life, I have found the following two techniques to be very effective:
- Find something that has to do with investing that gives peace of mind that you need to watch and manage your portfolio on a daily basis. For me, I direct this energy into two main tasks: 1.) financial blogging and 2.) stock analysis. Both make me feel like I’m doing something to help my portfolio without having to sell and buy stocks. Both of these may not be suitable for you. You might prefer to read about stocks and invest, discuss them online, etc.
- Invest in solid stocks with solid dividends. Everyday movements in Dividend growth stocks never bothered me. Anytime a dividend growing stock falls without its fundamentals changing, I get excited because when the price falls, the yield goes up! It may seem strange, but I was actually disappointed when a price rose and the yield fell below my target level.
Experiment with the above and I am sure you will find ways to curb these desires for daily portfolio monitoring and management. If you’ll excuse me, I’ll have to take a run to stop thinking about that pizza in the fridge.
Full Disclosure: No position in the above securities.
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