Principles for Principal, and more

“Don’t time, don’t chase, and don’t react,” writes financial guru Charlotte B. Beyer in Wealth Management Unwrapped.

I heard this former Wharton professor and Wall Street veteran interviewed and grabbed her book.  Granted, it’s primarily for people with several million more dollars than you and I might have, even combined, but she offers some great principles.

She acknowledges that many of the core mantras and practices that have been landmarks of asset allocation for the four decades of her career are of less value in the shifting/shifted landscape of today.  Hmmmm…this sounds like the same experience the rest of us are having in our fields as well, doesn’t it?

“Don’t time, don’t chase, and don’t react” are three cautionary principles that apply to more than principal.