Reading More = Better Investment Decisions

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Although we have far better technology and products than our forefathers could have dreamed of, it is a shame most of our financial decisions are no better off than they are. It is important for us to learn how to harness the power of technology and utilize the information available for greater gains for us and our family.

The financial sector is going through an evolution as we are in a midst of the financial crisis. After the crisis, many new financial theories, thoughts and practices will emerge and many old ones will be abandon. How do we know which concepts should we keep and which one do we throw away?

readingmore thumb Reading More = Better Investment Decisions

Honestly, it is hard to determine what idea is useful and what is outmoded, but with some discipline and reading, we can develop our own strategies and plans that will economically and efficiently enhance our financial health.

One of the goals I have set myself to “accomplish” in 2009 is to improve my knowledge in investing and personal finance planning. I believe learning from the best finance books, academic research, market news and financial blogs will reveal certain practices that can improve the financial decisions I made. Better investment decisions lead to lower costs, more predictable returns and lower risk. And being more inform improves the probability of meeting my financial goals.

The bottom line for investors is that they must take responsibility for their own financial education. Starting here, starting now! BrandlessBlog.com is a collection of painless, profitable, entertaining and educating articles on the  journey of how I (am going to) become an expert in finance and investment. This blog can also help you make that journey.

In the earlier part of my expedition, I would examine the key concepts and instruments developed over the years and explain the practical applications for individuals before I touch on the more advance stuff in finance.

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This is an article from The Brandless Blog.

Last 5 posts by Rendell

January 7, 2009 · Filed Under Finance and Investment

Comments

2 Responses to “Reading More = Better Investment Decisions”

  1. Kent @ The Financial PhilosopherNo Gravatar on January 12th, 2009 8:43 am

    The subject of your post has intrigued me for the past few years.

    What I have learned and observed is that more information does not translate to better decisions — more information translates to more distraction.

    While we have the capacity to learn (and benefit) from the vast increase in access to information, we must first acquire a higher degree of self-awareness so as to allocate our attention in a more efficient manner…

    “… in an information-rich world, the wealth of information means a dearth of something else: a scarcity of whatever it is that information consumes. What information consumes is rather obvious: it consumes the attention of its recipients. Hence a wealth of information creates a poverty of attention and a need to allocate that attention efficiently among the overabundance of information sources that might consume it.” Herbert Simon (1916 - 2001)

    Thanks for posting on this important and timely subject…

    Kent @ The Financial Philosopher

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  2. RendellNo Gravatar on January 12th, 2009 9:24 am

    Hi Kent,

    Yes, I do agree with you that More information = More distractions.

    But reading and learning from various good sources is still the essence of making better investment decisions.
    Self-awareness is another psychological part of investment which is also an important factor for making decisions, but you would not be able to understand that part of your mind unless you have read about it right?

    Maybe I should rewrite the formula to:
    Reading More + Self-awareness = Better Investment Decisions

    Thanks for visiting and leaving your great insight here! :)

    Rendell

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