Wednesday, July 27, 2005

Chess Lessons For Finance

In the LA Times:

To win at chess, you cannot make moves at random or without a purpose. You need a plan that often includes short-term or medium-term goals (such as increasing the mobility of your pieces, or controlling a key area of the chessboard). Similarly, in personal finance it makes no sense to make investments at random (such as just because a magazine touted a hot stock or mutual fund) without well-defined short, intermediate and long-term goals.

The article is available here.

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