2nd Quarter 2014
“Risk comes from not knowing what you're doing” —Warren Buffett, legendary investor
To our clients and friends:
In investing—unlike football, hockey or other “fast” sports—the turtle usually wins the race against the hare. We all know of the quarterback who garners the most accolades for “quick decision-making”. We’ve all heard the Wayne Gretzky quote of “skating to where the puck is going to be, not where it is now”. However, investing is quite the opposite. As many of you know, the core philosophy of our firm is that there is never a reason to rush into buying or selling any investment. Instead, we recommend a different approach: 1) plan ahead; 2) employ a strategy; and 3) remain flexible in your analysis and portfolio positioning. These three keys are critical to building wealth and achieving one’s objective.
We all recognize that Sophocles was correct—it’s best to “stick with the plan” and never let panic or fear, greed or euphoria drive your investment strategy. But sometimes a lack of discipline throws us off course, and we make the wrong decision.</
About the Author
Fama Fiduciary Wealth LLC is an SEC-Registered Investment Advisory firm originally established in 2001 under the name of Andrew J. Fama Asset Management. With over 30 years of experience representing financial institutions, businesses and individuals, Mr. Fama understands the risks inherent in all types of investments.
To learn more about Andrew J. Fama click here.