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Common investor mistakes: trying to time the market

Video Transcription

The more you know about the most common mistakes that investors make, the better your likelihood of building lasting wealth will be.

In this series of short videos, I discuss the common mistakes I’ve seen investors make.

Today we discuss every investor’s dream of “buying low and selling high” to maximise gain.

But the reality is that you really can’t “pick the market”.

Some of the points we discuss:-

Many of us want to buy at the bottom and sell up or refinance at the top
You’ve probably heard: Buy countercyclically — be fearful when others are greedy and greedy when others are fearful
Wealth is the transfer of money from the impatient to the patient
Some beginning investors did well over the last few years — they were buoyed by the markets, but this luck can’t be replicated
Rather than picking the market — look for good opportunities
Have you noticed how some investors do well in good time as well as bad times and others do poorly — it’s not the market — it’s something inside them
You’re not buying the market — you’re buying an individual property in the market — one you’d be comfortable holding in the long term

With thanks to Michael Yardney's PropertyUpdate.com.au

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