New Year’s Resolutions (Not Predictions) For Financial Markets

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Contrarian. Making predictions for a new year is nonsense so we won’t go there. BUT, new year resolutions? Totally different way to set forth into 2023. I mean it is totally acceptable to break, and not be held responsible, for a resolution. You make a prediction and somebody, somewhere, will inevitably point out why you were wrong. Why bother.

So let’s make (or consider) some resolutions for this young new year:

I RESOLVE to NOT believe any of the fifty million (lol) predictions that are beginning to flood the media. Last year certainly proved the validity of that resolution. No one got it right last year. Nor will anyone “nail it” this year either.

I RESOLVE to ignore all the hype (good and bad) around crypto. Bitcoin is NOT going to zero. Bitcoin is NOT going to $1M. Of course I reserve the right to break this resolution, buy into the hype with FOMA (fear of missing out), and buy BTC at $70K.

I RESOLVE to NOT get my financial news or advice from TikTok, Reddit, Yahoo or social media in general. Trust the source. Of course this resolution could open the door for professional/registered financial advisors to onboard new clients after those investors/traders discover that the TikTok advice didn’t work out so well.

A recurring resolution that needs to be re-visited each year (it’s like renewing your resolutions vows) states NOT to be lulled into accepting anything from politicians as fact. Fiction yes, fact no. FYI, this resolution should never be broken (unlike I resolve to workout, lose weight, etc. which has already been broken).

Further…
I RESOLVE to NOT make the same investment mistakes I made last year. Of course that’s more wishful thinking and that resolution was broken earlier today. Buying bulges is not a good idea and I resolve to not do that in the new year.

So as you can see, new years resolutions are made for breaking. Or, “readjusting.”

Predictions are meaningless but seem to stick with you…..especially when you are wrong.

Happy 2023!