8. Looking At Relative Performance Only — Traditionally, large institutional managers emphasize relative performance comparing against indexes. While it can be gratifying to learn your portfolio outpaced the S&P 500, it is really quite irrelevant. Generally for those investors who play this game, they only want to play part of the time.
They want to beat the indexes when the market is increasing, but not lose any money when the market tumbles. Unfortunately, it can't be both ways. More important is how well your investment program is doing in relation to your personal goals. Measuring your performance the right way should include reviewing the overall portfolio results against your targeted goals; determining after-tax returns; taking into account inflation and expenses; using the appropriate benchmarks to compare segments of your portfolio; and recognizing the level of risk associated with your returns. In most cases, consistent results are a wiser choice over spectacular performance.
BERK: Good advice. "You can't relative performance" or it does not matter how well your portfolio does in relation to an index or to another person.
Indices don't have to fund their own retirements or leave a legacy for their grandchildren. Indices don't pay taxes either.
Invest for your personal goals.
Hi Berk, i agree. Indices don't have to fund their own retirements or leave a legacy for their grandchildren. Indices don't pay taxes either.
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