(a continuation of the October 2024 Deep Dive)
Stage 3 – What data do you want to focus on?
Is it difficult?
Writing this section has been a challenge for me and for some it may only be of limited use. Perhaps each person will go about strategy review work in their own way, but I hope I can give you a few tools to use.
As I thought about what to suggest to help investors acquire and apply information that is freely available these days, a saying of my late mother came to mind. A rather blunt lady, she was inclined to express frustration at we children not doing things right, usually by pronouncing the phrase ‘oh, use your common sense!’. I think maybe that was a well used expression of the 1960s.
I am not going to leave my advice at just that, but I don’t think one requires qualifications in economics, accountancy or investment portfolio theory to use relevant data to make good decisions.
I have all those qualifications (of course, acquired ages ago!) and perhaps they occasionally give me an extra insight, but I think my personal methodology in moving to a new or updated viewpoint on investment markets (which readers have likely observed over the years) is based on my life experience working in the business sector (as have nearly all my readers) and a keen interest on what is going on in the world, which is so very often a cyclical pattern.
What goes around comes around is a very useful cliché to keep in mind! For that reason, being old (or having plenty of experience) is a bonus!
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