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« ETF Update: Hidden Correlations in Sector Choices | Main | People are Finding Jobs -- More are Losing Them »

May 27, 2009

Comments

VennData

It's hard to separate emotions from investing. Politics for most folks is emotional.

The best approach is to find an investment system that allows you to operate at a level of detachment that you are able to achieve from all things emotional, not just political. Since most people make most of their decisions emotionally, this also applies back to many things besides investing.

Live long and prosper.

Prof

The professor's point is well taken. It is interesting that the most vocal critics of current policy were silent on the policies that created the mess we find ourselves in now. People, policies and markets are dynamic, and investors should be mindful of that reality over their preconceived notions.

Russ

Prof,
Can one truly do this? Could you dutifully profit for your clients from something that was against your personal convictions? Could you profit in the short term from a policy that would hurt your clients in the long term? Should you stay quiet or advocate for the best policy?
I may be drawing too fine a line here, but I would agree investors should be agnostic about political parties, but not policy. Policy matters tremendously to investors. This may be your point, in which case we agree. My view is that the factors driving long-term investment returns are highly dependent on public policy. As such, I need to closely follow the policy debates and highlight for others how potential policy shifts can impact their portfolios. The challenge to me is not about being agnostic, but about being honest and mindful of my own biases.
For what it's worth, I tried blogging a few years ago and I couldn't get around this issue. I wrote things as if I was a pundit, not an investor and the result was poor. Thanks for your perspective, and for your blog.

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