Porter Stansberry Advocating Intelligent Asset Allocation
That's because the fundamental basis for a successful investor is to hold onto your money. If you want to be a success, and you want to truly accomplish something with your investments, holding onto your money is priority number one.
Like anybody in the industry can tell you, holding onto your money will lead to wealth in the long term, because it means you're focused on intelligent investing. After all, as Porter Stansberry points out frequently, if you can't hold on to your money through proper asset allocation, you're going to lose on your investments.
Knowing how much to spend is more important than knowing which country to invest in, how the housing market is doing, or any other factor that goes into making a financial investment.
Setting up a stop-loss is also going to be your best friend. This is what will ensure that should you start to lose money on any given investment, you can curb the loss before it rises above anything that you can't afford to endure.
Another key component of the investor mentality is understanding that you're going to lose money eventually. That's just a fact of life, it's going to happen at some point. But how you lose money, and how you respond when losses happen is what will truly define your ability to become a capable and successful investor.