Lesson time for investors
Tuesday 11 May 2004
We all want to be good investors and make our money work for us, but what is it that makes a good investor?
By The LandlordTo answer that question, you would think the obvious person to turn to would be a psychologist or someone in the human sciences or behavioural finance field.
But, somewhat surprisingly, the Russell Investment Group has also come up with some useful answers. Surprising because Russell is one of the big names of investment research, whose recommendations can move billions of dollars.
One of Russell's senior staffers from Seattle, Andy Turner, was in New Zealand recently, talking about the "four Ps" of investment.
These were not the Ps you normally heard about - performance, process and portfolio. Rather they were: passion, perspective, purpose and progress.
Such human characteristics were not known for being easy to measure, but Russell had tried to do just that and to prove that they were the characteristics that made investors successful.
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