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Set and Forget

I once had a client who was so concerned (or his wife was) about how much money he had made or lost each week that instead of taking my advice and looking at the value of his portfolio on December 24th each year he agreed to have a financial meeting with the said wife EVERY Saturday morning.

His job on Saturday was to report to the meeting (quite formal), how much their investment had gone up that week…and if it hadn’t what was he going to do about it!

The possibility of having a computer program making share trades for you is one way you can set and forget - let the computer do all the trading for you, especially limiting the losses. On a busy day in the New York market some programs would limit the time of being a shareholder to SIX seconds!!!

I bought my BHP shares in 1962. Just imagine how many times they would have been sold and bought in those 60 odd years if they had been held by my former client.

Unless, of course, his wife really drove him mad!