Written by - Failure to Diversify: Relying too heavily on one asset class or stock increases risk. Diversifying across asset classes reduces overall risk.
- Chasing Hot Stocks: Buying stocks based on hype without conducting thorough research can lead to poor investment decisions. Stick to your investment strategy.
- Ignoring Fees: High fees can erode returns over time. Choose low-cost funds and be mindful of transaction fees and management fees.
- Emotional Investing: Letting emotions like fear or greed drive decisions can result in buying high and selling low. Stay disciplined and stick to your plan.
- Timing the Market: Trying to predict market movements is risky. Invest for the long term and avoid attempting to time the market.
- Not Having a Clear Investment Plan: Failing to define clear investment goals and strategies can lead to haphazard decisions. Create a plan and stick to it.
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