Experience is priceless, especially when it comes to the world of investing. With every deal, every market fluctuation, and every success and failure, investors acquire a wealth of knowledge that just can’t be taught in a classroom. One person who knows this firsthand is Stephen Bird, the CEO of ABRDN, a global investment firm. Bird has had an impressive career in the financial industry, with over 30 years of experience under his belt. From starting as an HSBC trainee in Hong Kong to running Citigroup’s Asia-Pacific region, Bird has seen and done it all. In this blog post, we’ll explore the lessons we can learn from his experience when it comes to investing.
1. Timing Is Everything
One thing that Bird has learned is that timing is everything in investing. While making good investment decisions is important, it’s also important to buy and sell at the right time. This means paying close attention to market trends and closely monitoring any potential economic or political changes that could affect your investments.
2. Diversify Your Portfolio
Another lesson Bird has learned over the years is the importance of diversification. A portfolio that is diversified between different types of assets, sectors, and geographies is less likely to be impacted by sudden market changes. Bird suggests creating a “basket” of investments distributed across different categories, such as bonds, stocks, and real estate.
3. Keep Emotions in Check
When it comes to investing, it’s easy to get caught up in emotions like fear, greed, and FOMO (fear of missing out). However, Bird believes that keeping emotions in check is critical when making investment decisions. He recommends sticking to a long-term investment strategy and avoiding the temptation to make impulsive decisions based on short-term market movements.
The power of experience when investing is invaluable. By learning from the experiences of experts like Stephen Bird, we can gain valuable insights and avoid costly mistakes. From timing to diversification, emotions to long-term planning, Bird’s lessons offer a roadmap for successful investing.
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