by Doug Goldstein CFP® | Nov 17, 2014 | Behavior finance, Chess, Financial Strategies
When starting a game of chess, the first moves are often referred to as “the opening.” Over time, various kinds of chess openings have developed, with their own names, including the Sicilian opening, the Ruy Lopez opening, the Queen’s Gambit, the English opening, the... Click for more
by Doug Goldstein CFP® | Nov 5, 2014 | Behavior finance
Risk tolerance is a very important factor when playing chess or making financial decisions. Indeed, one of the biggest dilemmas is whether your next move is worth the risk. Very often, fear of loss, or loss aversion, can hold you back from great success. Watch this... Click for more
by Doug Goldstein CFP® | Oct 15, 2014 | Behavior finance, Decision Making
When investors decide whether to buy or sell a stock, they often get sucked into the “disposition effect.” Professors Hersh Shefrin and Meir Statman, who first invented this concept in 1985, define it as “investors’ disposition to sell winners too early and ride... Click for more
by Doug Goldstein CFP® | Oct 6, 2014 | Behavior finance, Financial Strategies
One of the best ways to lose a game of chess is getting stuck in a bad position on the chessboard. Logic dictates that if there’s no foreseeable benefit in leaving your chess piece where it is, you should move it somewhere else. Yet for some reason, many people seem... Click for more
by Doug Goldstein CFP® | Sep 17, 2014 | Behavior finance, Financial Plan
The ubiquitous use of debit and credit cards has led today’s consumers to forget about planning and saving. People love to own things, and their Visas or MasterCards have become the ticket for providing them with everything. But at some point, they have to pay for... Click for more
by Doug Goldstein CFP® | Sep 15, 2014 | Behavior finance, Chess Strategies
Here’s a simple investment strategy to beat inflation and protect your retirement nest egg: watch out for false promises. Usually, if something appears too good to be true, it often is too good to be true. The Invisible Chess Attack False promises can be deceiving.... Click for more
