What are some common portfolio mistakes to avoid?
An example of an AI chatbot conversation about portfolio mistakes to avoid.
What are some common portfolio mistakes to avoid?
Some common mistakes include not diversifying, ignoring risk tolerance, and failing to update your portfolio.
Can you explain why diversification is important?
Diversification helps reduce risk by spreading investments across various assets, minimizing the impact of a poor performer.
What should I do if I realize I've made a mistake in my portfolio?
Assess the mistake, consider your investment goals, and make adjustments as needed. Consulting a financial advisor can also help.
How often should I review my portfolio?
It's advisable to review your portfolio at least annually, or more frequently if there are significant market changes or life events.
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