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According to chief market strategist at CMC Markets and host of The Artful Trader podcast Michael McCarthy, there are certain investor personality traits that seem to predict success in the share market.

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In this episode of the nestegg Podcast, Michael joins host Grace Ormsby to outline exactly what these characteristics are, the difference between high-risk and low-risk appetites, and how investors can apply different strategies depending on their own personality type.

Michael also explains how fear can be both helpful and a hindrance for confident decision-making, why failure is a crucial process for investors seeking growth, and where budding investors can begin educating themselves about the markets.

Thanks Matthew, for sharing your insights with the nestegg podcast team!

You can keep up to date with what CMC Markets are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Retirement

Major bank encourages navel-gazing

By Lucy Dean · February 12 2018

Reading:

Retirement

Major bank encourages navel-gazing

By Lucy Dean
February 12 2018

Reading:

Major bank encourages navel-gazing

By Lucy Dean · February 12 2018

Reading:

With more than 40 per cent of Australians admitting they rarely or never set goals for themselves, a major bank has urged Aussies to talk to themselves more.

New research from NAB revealed that in addition to the 41 per cent who don’t or rarely set themselves goals, 40 per cent also don’t spend enough time considering what they “really want from life”.

Further, just 15 per cent of Aussies speak to themselves about their goals regularly. That’s despite figures that show those who talk to themselves about their financial futures are 29 per cent more likely to achieve them.

“It is really important that we don’t get caught up in the everyday and forget to take time to stop and reflect, so we can understand what we really want from life,” said psychologist Dr Sabina Read.

“This is something I practice personally; it doesn’t matter how you do it – whether it be in the mirror to yourself, in a journal or internally in a quiet moment – it’s just about taking the time to reflect.”

NAB’s research found that 71 per cent of Aussies don’t have a solid idea of what they want in life, leading NAB to argue that in order for Australians to understand what they want and how to become more successful, Aussies need to become more in touch with themselves.

General manager of customer experience at NAB Lara Bourguignon explained, “Some people might question the concept of talking to themselves. But, the research reveals those people who do talk to themselves about their financial goals believe it has helped them achieve what they want in life. The question for many of us to ask is: ‘Why aren’t we making the time?’”

Continuing, she said it’s just as important that clients speak to themselves about what they want as it is to speak to an adviser.

“For example, a customer may come to us wanting to save, but if they have clarity about what they are saving for, we can help them even more. Being really clear on the goal and the outcome enables us to help them stay on track,” she detailed.

NAB suggested Australians think about:

What you know now that you wish you’d known 15 years ago.
What you’d like to be doing in 10 years.
What’s something you enjoy that makes you lose track of time?
What’s more important: adventure, achievement, security, connection or making a difference?
What you’d do in business if you knew you couldn’t fail.