The problem with mental tricks is that you know you're doing them. It's like that guy we all know who set his watch 5 minutes early so that he's never late for anything. The problem is that he KNOWS he's done this and, consciously or unconsciously, takes this into account and ends up arriving to meetings at the same time as everybody else.
I've found that, for me, simply maturing has reduced my tinkering over time. One can help this process by adding a line in your IPS regarding how long you should force yourself to wait before making any changes. This can help, but just remember that an IPS is a contract to yourself. And you're sitting on both sides of the table in a contract negotiation so it can be pretty easy for both parties to agree to something. But at the very least, it might give you pause before barreling into a portfolio change...
Cheers.
I've found that, for me, simply maturing has reduced my tinkering over time. One can help this process by adding a line in your IPS regarding how long you should force yourself to wait before making any changes. This can help, but just remember that an IPS is a contract to yourself. And you're sitting on both sides of the table in a contract negotiation so it can be pretty easy for both parties to agree to something. But at the very least, it might give you pause before barreling into a portfolio change...
Cheers.
Statistics: Posted by dcabler — Sat Nov 16, 2024 6:23 am — Replies 28 — Views 1297