“It’s good you finally came in.” The doctor looked at me over her paperwork, and I averted my eyes like a kid caught stealing candy.
See, I’d been sick for over a week. I thought I was getting better, but a nasty cough was still hanging around — one that echoed through the office every hour on the hour like a clock that’s smoked one too many cigarettes. Finally, I brought my stubborn self to the doctor, who promptly told me: “Well, of course you’re coughing. You have bronchitis.”
Whoops. Sorry, lungs.
At least I know I’m in good company. Almost a third of Americans don’t make appointments right away after getting sick. Clearly, many people don’t go to see a professional when they should. They wait … and they wait … until the problem gets so bad they can’t ignore it.
The same can be said for seeing a car mechanic for car problems, an attorney for legal issues … or a trading expert for a bleeding portfolio. People delay getting help or advice until the issue is critical.
And for individual investors, that means missing out on profits.
In 2016, Openfolio (a social network with more than 70,000 members who share their portfolios) showed that the average investor only made 5%. Yet the S&P 500 Index bagged nearly a 12% return. By trading without help, they clearly lost out on gains that were just waiting out there.
As I’ve covered over the past few weeks, investor biases have a lot to do with that underperformance. We allow emotion and prejudices to cloud our best judgment. (To read how that caused the 2008 crisis, click here.)
So the solution is pretty clear to me: Find an investment expert in the field whom you trust. Let them take the emotion out of trading for you. And do it before your portfolio actually needs it. As I learned this week, preventative care saves you a lot of pain.
To see what I mean, let’s talk about a booming industry: medical marijuana.
This industry is on the verge of a 4,067% boom — and excitement about it has been mounting for a while. So it’s no wonder that investment dollars have started flowing into it.
However, with over 227 marijuana stocks out there, most people don’t know which companies to invest in. And they don’t know how to identify the stocks that will become the industry leaders.
That’s why many individual investors got hurt with the momentary downturn. The North American Marijuana Index fell about 20% this year.
Yet there were stocks that popped higher over the last six months: Kush Bottles Inc. (OTC: KSHB) rose 20%, Canopy Growth Corp. (NYSE: CGC) rose 15% and Cara Therapeutics Inc. (Nasdaq: CARA) popped 50%!
If you had consulted an expert and followed their blueprint for finding the high-flying stocks in the industry, you likely would have been sitting pretty with gains like those or better. If you hadn’t … well, you’d be sitting in the red wondering why your investment just went up in smoke.
So if you’re interested in following a proven blueprint and finding the top-performing marijuana stocks, just click here.
In the end, you want to get an expert’s advice before you need it. That’s how you keep your portfolio healthy.
Managing Editor, Banyan Hill Publishing