Do you guess who is the person who can make simple and easy things complex? Well, let me tell you these are the investment gurus. There are lots of financial media channels that which not only broadcast financial news, but also provide views, advice and expert opinions on various investments. And we investor thinks that they are the god of stock market and knows everything. But we do not know this that their advice is not good for achieving our portfolio or financial goals. You should know which advice is useful for your portfolio and which is irrelevant. So, today in this article I am going to share with you why you should avoid investment guru as much as you can.
Why You Should Avoid Investment Guru
1. Avoid Advice that is not in compliance with your financial goals
There are lots of investment guru that you see in various finance channels. Some favors gold then some real estate. Do not ever follow their advice blindly. First check and study your investment portfolio properly. Then on the basis of that decide whether you want to invest on gold, equity or real estate. The rule is simple, if you follow your investment needs blindly without looking at your financial needs, you will end up in the losing side. It is possible that the advice is correct but does not suits your risk profile and investment time frame.
2. See whether investment guru advice is really objective or not?
An investment guru must be objective in his advice. But the investment guru whom you are following advice is actually objective or not. There is possibility that there decision biased or in self interest. Such type of advice is not for your best interest. So, if you are following such type of investment guru, then think again. This is one of the most important reason that why you should avoid Investment Guru.
3. Sometimes the forecast is one-sided
There are some experts that provides advice by analyzing only one of the side of the story. They forget the most important fact that every coin has two aspects. If an investment guru is not considering all the related factors that can impact the investment, then just avoid that investment guru. A good expert is one who not only analyse and provide conclusions but also share the future uncertainties with the investor.
4. Forecast is based on a single event
If an investment is providing advice just on the basis of current event or on the basis of a single event, then just avoid that investment and investment guru. This means that he has not looked at the different aspects of the investment decision. Such type of advice can damage your investment portfolio.
So, if you think that you do not know market and that’s why need to follow the investment gurus or experts for making your investment decision, then you are just a lazy person. If you are investing in market, then try to understand it and learn about it. We scared that if we will take any decision, it will end up in loss. Always remember that experts are not one of the Market Gods who knows everything.