35 Hours Is the Goal If You Ask Me!
We live in a society where we strive to acquire as much as possible for doing as little as possible. It is a fast world and everyone always wants to say how 'busy' they are. In fact, I believe being 'busy' is the #1 excuse for doing absolutely nothing. People are too busy to exercise for the health, too busy to take up a new hobby, too busy to go out and have fun, too busy to do anything.
When it comes to the typical stock investor, most would rather get the news at their feet quickly and in the most concise manner, buy a stock, and then come back months or years later with much more money in returns. They see the lucky few do it and they say "why can't I do it too?" Well I say YOU CAN, just don't wonder why things didn't turn out as good as you had hoped.
35 hours is the goal if you ask me if you have 10 or more holdings. Yes, that is 35 HOURS PER WEEK! You might think it is insane to spend so long following the market, your stocks, YOUR MONEY. I mean why would any sane person spend this much time when you can order a subscription package of 'hot stocks' or 'golden returns' or whatever else you can buy and do next to nothing else?
But I say 35 for the simple reason that the market for most stocks is open from 9:30am to 4:00pm. Yes that is just 6.5 hours and at 5 days a week, that comes out to 32.5 hours. Well the other half hour each day is up to you. Either spend it in the 30 minutes in pre-market or after-market. Why? Because that is when many companies release news. You see, when you decide to ignore the news, you wind up being one of the millions that have the confused look the next day when you read that your stock ticker has suddenly shot up or down in afterhours. It would be nice to know why for once.
Overall, 35 hours is for your benefit. No one cares as much about your money as you ever will. Despite the hope that your financial advisor, friend, or subscription service, or even your super nice stock guru cares deeply for you to become wealthy beyond your wildest dreams, you might as well keep dreaming for this to happen. Just like your personal trainer couldn't care less if you ever get in shape, just like your university/school couldn't care less if you graduate as long as you keep paying tuition, no one really cares if your stocks make you a penny.
From my experience, the more time and effort you put into your money, your investments, and your finances, the better your returns will be. You might lose some despite your time researching, but at least you will know why and be able to close a holding and capture a new one. In the end, the 35 hours is for your current and potential future holdings. It just takes a second of news for something big to occur that will leave a golden opportunity to buy or sell.
Basically you could ask yourself this:
How long would you let just $1000 of your own money sit on a desk/chair/table without you checking if it is still there?