In this week’s Wealth Matters column, Paul Sullivan checks in with several of his favorite experts to see how they think investors should behave in the new year.
The Nobel-Prize winning psychologist Daniel Kahneman called for prudence, Daniel Egan of Barclays Wealth warned people away from trying to time the markets, and the finance professor Meir Statman is worried about people who may permanently swear off asset classes where they’ve lost a lot of money in the past.
Robert Seaberg of Morgan Stanley, meanwhile, suggested that people not try to hit home runs. Singles and doubles are a better approach, with an emphasis on not losing big from trying too hard. Mr. Statman is particularly worried about older people who are trying to win back the money they’ve lost in recent years and end up trusting crooks who make big promises.
So what about 2012 worries you, and how are you planning accordingly?
Article source: http://feeds.nytimes.com/click.phdo?i=53918b739ba48f2452f848583a7c1e40
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