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Resolutions for 2009: A Plan for Profit

January 2, 2009

Resolution time is here and all too often, thoughts turn to ideas about self improvement that usually last for only about 2 weeks or so. Have you ever noticed that the parking lot of your local fitness club is packed the first few weeks of the new year? Then, like clockwork, more and more spots are available as most resolutions seem to fade.

This year, how about a simple set of resolutions with one consolidated purpose? Try this on: I resolve to profit from my investments in 2009. That may be easier said than done in this environment, so here are a few ideas to get you started with your Financial Resolutions.

1) Forget the past. The way to make money with stocks takes more than just throwing a chunk of money into a mutual fund that outperformed the market during the previous year. Just look at the abysmal performance of the CGM Focus Fund (CGMFX), manged by All-Star mangler manager Ken Heebner. In 2007, this fund was ranked #1 in its category while in 2008 it is down 50%.

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Written by Andrew Horowitz · Filed Under Gameplan, MarketMash, Markets, Recent Reads, Short Ideas, Stocks, Strategy 

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4 Responses to “Resolutions for 2009: A Plan for Profit”

  1. Mark on January 5th, 2009 6:18 am

    Thank you for a great list of ideas and Amen to #5 “Emotions are not part of the profit plan.” When it comes to managing investments, fear and greed are two of the most destructive emotions. Unfortunately not much of 2008 felt very logical. If the government stops meddling in the markets and bailing everyone out, will the logic return?

  2. Andrew Horowitz on January 6th, 2009 4:15 am

    Re: Mark commented on Resolutions for 2009: A Plan for Profit –

    IF IF IF IF

    If they stop meddling, the floor will drop out sooner than later it seems..

    Andrew

  3. JoJo on January 7th, 2009 1:39 am

    "I will be more educated and involved to enable my inner Ronald Reagan"

    Oh, you mean run up an unsustainable personal deficit? Sounds like a plan!

  4. Andrew Horowitz on January 7th, 2009 2:33 am

    Personal, governmental, corporate, municipal(deficit)… Bailout will come , so why care?

    Andrew

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