On a Manic Monday when stocks opened down and the Fed is talking about raising rates, what are the smartest moves you can make with your money right now? Eliminating mistakes is job number one. Finding value is job number two. Markets are already near all time highs and interest rates near all time lows. Its an important time to take inventory in your own portfolio.Not everyone wants to own precious metals, but if you do, this may be an opportune time. For example, gold is back at a price point investors could only have dreamed about five years ago. Gold expert Nick Grovich reveals key opportunities in gold, platinum and silver in segments 2 and 3.
In segment 4, Steve reviews the research reported in the Wall Street Journal about why your smart phone could be making you a dumber investor. According to research by Dr. Shlomo Benartzi, a professor and co-chair at the Anderson School of Management at UCLA, paying too much attention minute to minute or day to day means you are going to see the market being down 47% of the time. If you automatically sell when the market is down, you are doomed to failure. It leads to a trader's mentality rather than an investing mentality. Steve reviews a smart way to avoid reacting to TMDTQ (too much data too quick), and getting your retirement plan on strong footing.