Entries by Steve Booren

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Improving Investor Behavior: Managing Your Fears

Shark Week is among the longest running and most popular cable programs in history. First appearing 30 years ago in 1988, the show has since been watched and celebrated by millions. Why would a program about sharks and their danger be so popular? I think it plays on the emotion of fear, and more interestingly, people’s desire to be a little bit scared.

My point is this: sometimes our greatest fears are the most unfounded. Whether it’s an oversized fish or monsters under the bed, our worst fears take up an oversized portion of our conscious and drive actions that can be damaging and counterproductive. Fear is a powerful emotion and one you must learn to rein in if you want to be a successful investor.

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Improving Investor Behavior – Fear of Missing Out

When you are stuck in traffic on the interstate, creeping along, do you find yourself wanting to switch from one lane to another? Do you glance to the left and see the “fast lane,” and are envious of how quickly they are moving? You look for an opening, signal and move over to gain some […]

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Improving Investor Behavior – The Prosperity Mindset

Wealth is a mindset. In my years as a financial advisor I’ve worked with many wealthy individuals who have everyday-type jobs. From bus drivers to teachers, entrepreneurs to an administrative assistant at the Chamber of Commerce, I’ve learned that income is not the best determinate of future wealth. Instead it’s a mindset, one I like […]

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Improving Investor Behavior – Myths & Language

Many people believe the stock market is risky. It’s often described as a casino, using words like crash, falling, and my favorite Wall Street word: “correction” meaning falling 10 percent or more from a previous high price. My definition of a correction is a temporary decline, which is then followed and surpassed by a permanent […]

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Invest in Businesses Rather than Renting Stocks

Most business owners can feel the pulse of their business. If you own a coffee shop for instance, you can go to the location, see and interact with your employees, touch your inventory, and keep your customers happily caffeinated. You can smell the aroma of your business. You can feel it. What if you had that same feeling as a shareholder of a public company?

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Renegotiating with our Business Partner, Donald Trump

Imagine you have a business relationship with a partner. You work and run the business, and take home 65 percent of the profits for your efforts and your partner received 35%. Last December your partner recognized your hard work and rewarded you with an additional 14 percent of the business, reducing their take to 21 percent.

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Improving Investor Behavior – Act Like an Owner

Most business owners can feel the pulse of their business. If you own a coffee shop for instance, you can go to the location, see and interact with your employees, touch your inventory, and keep your customers happily caffeinated. You can smell the aroma of your business. You can feel it.

What if you had that same feeling as a shareholder of a public company? What if you thought like an owner?

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The Difference Between Financial and Investment Advice

With the advent of technology, real financial advice will be a huge differentiator in the financial services industry. Anyone can create a portfolio, asset allocation or investment strategy. We are even told robots can do this with this concept called “Robo-Advisor”. What most people actually need is advice about how their investments fit into their overall financial plan, and more importantly their life. Believe me – robots cannot do this, nor do investment products do this. It takes an experienced, skilled, listening Advisor.

Both investment management and financial advice are necessary components for long-term success, but it’s important to understand the differences. So let’s compare and contrast the two.

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What is “Normal”?

Over the last ten days the stock market has experienced higher levels of volatility than we’ve seen in some time. The result has been many headlines highlighting the downfall of a strong market. It’s left many people wondering if this is normal and healthy, or a sign of worse things to come. But what is […]

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Are You Fiscally Fit for 2018?

Are you ready to become “fiscally fit” for 2018? We want to help you work toward making this a successful and prosperous year, so we updated our checklist with pointers for getting a head start on the new year.

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