I’m probably not alone in being guilty of growing a watchlist far beyond a manageable size, ignoring monitoring alerts, and forgetting its real purpose. In fact I’m guessing many novice investors such as myself, probably treat portfolios in a similar manner.
I was perusing through mine today, and realised that I hadn’t actually maintained it in quite a while. There were companies that had already matured past my intended entry point, or had declined enough to be now unattractive. Yet I had recently added more. It was a sprawling list with a few notes and little value.
All the monitoring tools and alerts in the world won’t help, if as an investor I am not disciplined enough to action the data.
In a similar fashion to my portfolio of owned shares. I had started my watchlist with an intention of ruthlessly monitoring the companies over a period of time. Culling all those that no longer met my criteria, or purchasing those that became attractive investments.
I want my watchlist to be a real useful tool, so over the next few days I will revisit the list according to my investment criteria. And will reset my alerts, and monitors, and actually use my watchlist as intended.
Author can be contacted: investing1234@hotmail.co.uk
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