Some thoughts for the festive period

With Christmas a few days away and an onslaught of New Year resolutions not far behind, this super article from Morgan Housel is a reminder that the relentless pursuit of more often leads to just more disappointment.

“Somebody is always getting richer than you, faster than you, with what appears like less effort than you’ve put in, and what looks like more enjoyment than you’re getting, it’s so easy for the goalpost to move even if you’re technically doing well in life.”

It is important to remember, that when it comes to investing (and in life in general), we are all playing our own game.

“Your family’s different from mine. Your job’s different from mine. You have different life experiences than I do, different role models, different risk tolerances and goals and social ambitions, work-life balance targets, career incentives, on and on.”

This is particularly relevant in a world of cryptocurrencies and meme stocks.

It is easy to get seduced by stories in the media or from neighbours and colleagues who claim to have won big trading in Bitcoin or Ethereum.

However, they may be taking risks that you are not comfortable taking.

Also, there is the fact that, as with the pictures that we see on Facebook or Instagram, which show the beach sunset but not the hour-long queue to get through passport control, people often only share their positive investment experiences, not the duds.

“Investing gurus are easy to elevate to mythical status because you don’t know them well enough to witness times when their decision-making process was ordinary, if not awful.”


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By Ross Naylor

Ross has been a financial adviser for the past 26 years. He uses the experience that he has gained over this time to help busy expats to understand their options, make smart decisions and avoid costly mistakes.