Mistakes investors mustn't make now is this week's focus of Warren Ingram's Personal Fiance Feature. You need to be in charge of your financial destination about what you doing with your investments.
The markets are quite difficult to read at the moment as the markets are going up and down.
We've been party some very big cycles in South Africa. We've had the rand which until very recently has been on a very long weakening trend against the dollar, the pound and the euro.— Warren Ingram, Galileo Capital
Ray White, standing in for Bruce Whitfield, interviewed Galileo Capital Personal Financial Advisor Warren Ingram on his weekly personal finance feature.
He says only post 'Nenegate' has started to strengthen.
The second factor is that for more than two years the Johannesburg Stock Exchange has been going down.
After two years we start to say well it's never going to get better. This is it, the rand's just going to weaken....we might as well send all our money...because it's all going to be worthless. And that's a very dangerous way to think.— Warren Ingram, Galileo Capital
He says that thinking has a snowball effect and causes the market to drop faster.
It becomes much more difficult to become rational with these trends when you are actually really losing money. And suddenly your emotional responses start to overwhelm your rational responses.— Warren Ingram, Galileo Capital
If you ask me about 2017, that's going to be the trend that worries me the most with South African investors.— Warren Ingram, Galileo Capital
Ingram says we are seeing a rejigging of our stock market.
Listen to Warren Ingram's tips below on what not to do as an investor right now:
Cover photograph: InvestmentZen Image Gallery