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Having What It Takes to Be an Effective Investor...Continued from page 1
• You have the correct perspective on time. You're not short-term oriented. Taking your cue from the Parable of the Talents where the master was away for "a long time," your strategy is a long-term one. This allows you to take up-and-down market cycles in stride. Time is the enemy of the speculator, but the friend of the investor. You have time on your side.
• You have a realistic goal. You know that a preoccupation with profits can be dangerous (1 Timothy 6:9-10). Surely, more poor financial decisions are made and more money is lost due to greed than any other single factor. You have learned that annual gains of 8%-10% over time can be made with relatively little effort or risk, and you are content to be reasonable in your financial ambitions.
• You are sufficiently diversified. You have divided "your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth" (Ecc. 11:2). Great profits can be made by concentrating all of your money in one opportunity, but also staggering losses can be incurred. By avoiding this temptation, you know that no loss will devastate you.
The first two of these six characteristics assure that you are honoring the Lord and His priorities. The final four reflect a wise balance between the risks and rewards of the marketplace. If they already describe you, then I believe you're well on your way to financial security. But if you could use a little help putting these principles into action, I invite you to click the link below to request a free information packet, and join the Sound Mind Investing family of readers.
So, while occasional bear markets, recessions, and storms may threaten, be of good cheer, for the Lord has said: "I will instruct you and teach you in the way you should go; I will counsel you and watch over you ... the Lord's unfailing love surrounds the man who trusts in Him" (Psalm 32:8,10).
Published since 1990, Sound Mind Investing is America's best-selling financial newsletter written from a biblical perspective.
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