Everyone dreams of hitting a home run. From bright-eyed children watching their first ballgames to dads reminiscing about high school glory days, we all want to knock one out of the park. Investors muse about hitting homers, too, only their version involves 100 percent returns instead of baseballs.
The big-time hedge fund managers, venture capitalists, and portfolio managers glorified by media for such returns are exceptions, just like home runs. Because such gains are rare, but not impossible, many investors chase them against their better judgment. Millennial investors are particularly prone to falling into this trap. In a world driven by instant gratification, long-term planning loses it appeal.
Published:
12/13/2016
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