Why Every Successful Investor Needs a Game Plan?

Every successful investor needs a game plan…

Every successful sports team, every successful investor needs a game plan.

This includes your big picture view of how the markets will develop.  It involves identifying winning trends, picking the right asset classes, sectors and geographical regions that will outperform.  Not having a good game plan is a classic rookie investor error.  Without a good plan, you have no framework in which to make investing decisions.

Following a good game plan lets you focus on specific areas of the market and identify good trades and investments when they pop up.

Think of it as the difference between strategy and tactics. Your game plan is your strategic planning – your broad overview of what’s going on in the world.  Your trading and investing decisions are your tactics – the execution of your strategy.

No plan will ever be 100% accurate and you’ll need to change as events unfold. But if you take the time to think how the investment environment is changing and how those changes will affect your portfolio, you’ll be much better prepared as an investor.

Over the next few days, I’ll lay out some of the aspects of my own game plan for 2011 – where I see the most opportunity over the next 12 months.

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Related posts:

  1. Every Successful Investor Needs a Game Plan
  2. My 2011 Investment Game Plan
  3. A Strategic Look at 2011: How to Make Your Investment Game Plan

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