Here’s the single best investing tip I can offer: Focus on process not products.
Investors too often lose money by worrying too much about investment products, rather than directing their attention to the process of investing.
Far too many people fall into the trap of watching the latest Wall Street headlines on TV or in newspapers, magazines, and online publications, and then trying to chase returns. These investors are seduced by media headlines such as: “Experts Predict The Hottest Stocks of 2012” or “The Best Mutual Funds to Buy in the New Year.”
This is precisely the wrong way to go about investing. Investing should not be about chasing down individual products, but about how you can best manage the process of investing.