Truth or Dare!
Ok, honesty time. How often do you check stock prices?
When I was a kid, you could only check stock prices in the newspaper the next day, or at best look at Teletext on TV. Then came pagers with preset alerts. Then PCs. Now its in my pocket all the time!
I find that when I am busy, I do it less. When I have time on my hands, I tend to wander and before I know it, I am looking up what stocks are doing.
Nothing wrong with checking out prices, but the danger is this...that you allow your emotions to go up and down with the stock prices. If you check daily, you might get emotional daily. If you check every hour, you might get schizo.
If you own a business, does the VALUE of your business actually change on a day by day basis? Would you think of selling or buying a business just because prices are changing daily?
A great investor I know of, Guy Spier, literally places his trading terminal on the other end of the house so that he does not look at it!
Challenge: If you're a stock investor, how many days can you go without looking up stock prices?
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