It is a brand new year, and no thanks to the Mayans, we have a big rally on our hands for the first day. Someone is bound to give us some story about how a gain on the first day is a good or bad sign for the markets, but I want to remind you the year is made up of many more days than just the first one.
As we start 2013, many people make resolutions about losing weight or make an effort to quit smoking or some other goal that will be a positive in their lives. But what about the investing resolutions that you have made or SHOULD make?
I am going to start off with one of my own, and I hope we can get a good list going of ideas that will help us in 2013. For me, I think my investing resolution is going to be to have better stops put in place shortly after making an investment. Stops can help me limit my losses and protect gains, and if I did that in 2012 I think I would have had much better performance. At least my losses wouldn't be north of 20%.
How about adding one of your own investing resolutions for 2013 and I will try to give at least one more.
-Happy New Year!
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