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The title of this CNBC article from 1/7/2017, “2016 Was a Terrible Year for Stock Picking, and 2017 May Not Get Much Better”, pretty much says it all. Of course, this is no surprise to those of us who follow the financial industry, as it seems to happen on a regular basis. So just how terrible was it?
As we close out the surprise-laden year of 2016 (think Trump, Brexit, and the Cubs), now is a good time to think about how to improve your financial situation for the coming year and beyond. For us at Clarity, the first thing that comes to mind is keeping investing costs under control, which is especially important in this era of low interest rates and high equity valuations.
Well, if you were expecting a forecast for 2017, sorry to disappoint, but that is a fool’s errand that we refuse to undertake. The first image that comes to mind when we hear “2016” is a black swan. After all, this was the year of Brexit, Trump, and the Cubs.
Regarding this election, the first thing that comes to mind is “Thank God it’s over!” Without question, this was the worst election in our lifetimes on so many different levels. As with Brexit, the question being universally asked is how did the polls, pundits, prediction models, and even the prediction markets get it so wrong?
This article is based on a piece by Bob Niedt that was featured in Kiplinger’s of April, 2016.
It’s safe to say that all of us, at some point in our lives, have made a financial blunder that we came to severely regret. For most of us, including myself, there is a plurality of unforced errors. Here are 7 all-too-common mistakes that we hope you will avoid.