by Doug Goldstein CFP® | Aug 13, 2014 | Behavior finance, Strategic Thinking
The fear of losing, known as “loss aversion,” trumps the joy of winning in most situations, and this imbalance frequently causes people to make poor choices. Going for the least-chance-of-defeat decision may at first glance seem wise, but this strategy certainly won’t... Click for more
by Doug Goldstein CFP® | Aug 11, 2014 | Financial Plan, Financial Strategies, Strategic Thinking
Chess is a game of strategy, and part of strategic thinking is figuring out what your opponent will do. Often, you may mistakenly assume that your opponent thinks the way you do. However, for all you know, your opponent is thinking of something completely different... Click for more
by Doug Goldstein CFP® | Jul 24, 2014 | Chess Strategies, Financial Strategies, Strategic Thinking
When you learn how to play chess or invest, you’ll soon find that every move you make must have a purpose. In the book, The Winning Investment Habits of Warren Buffet and George Soros, readers pick up a great piece of George Soros advice: He says that if you’re... Click for more
by Doug Goldstein CFP® | Jul 22, 2014 | Chess, Chess Strategies, Financial Strategies, Strategic Thinking
When you have a clear vision of what you want to do in a game of chess, it is easier to move ahead by building on your idea. Similarly as an investor, it is useful to have a definite objective when you invest so that you can have a clear goal to measure your success.... Click for more
by Doug Goldstein CFP® | Jul 10, 2014 | Chess, Chess Strategies, Strategic Thinking
How to maximize the return on your pieces Chess players must keep in mind the symbiotic nature of the three opening goals (controlling the center, castling, and developing their fighting pieces). If the start of the game includes appropriating the heart of the... Click for more
by Doug Goldstein CFP® | Jul 8, 2014 | Financial Plan, Financial Strategies, Strategic Thinking
A grand duke was marching through the forest with his entourage of hunters when he spotted several trees, each with an arrow stuck exactly in the middle of a large painted target. Amazed, he instructed his men to find the archer who had shot so accurately. They soon... Click for more
