THE END OF A SERIES AND THE BEGINNING OF A JOURNEY
Upon addressing, debating and resolving the aforementioned topics and issues, the portfolio building process will be complete. Investment policy has been developed, macro- and micro- expectational factors relevant to investing have been identified, portfolio composition has been decided, and assets have been allocated and optimized. This is where your real financial journey begins.
As I approach the end of an odyssey that began almost a year ago in the May, 1999 issue of this journal, I again ponder whether I have done the right thing by delving into a practical step by step description of the IMC process.
To address the question about why I specifically chose not to write about current events and more topical issues of interest, my answer is as follows. In my tenure as an investment advisor, I have seen this profession attract some of the most successful sales professionals in the country and, among them, some of the most gifted raconteurs I have had the pleasure ofmeeting. Some of these individuals are far more gifted than myself at relaying current topical events, which would make for superior light reading. I can truly say, though, that most investors I have had the pleasure of dealing with stood to benefit from additional awareness of factual research, education and planning. Armed with the fundamentals of the IMC process, investors can be in a more empowered state of financial awareness, more capable of making the critical decisions necessary to nurture and maintain a successful portfolio. There is plenty of financial gossip, fruitless speculation and conjecture available to bemuse and bewilder the most avid ‘hot tip’ collector. It will serve no one to have me adding more fuel to that glowing fire.
My bias is strongly in favour of this process and methodology over any other approach that I have found, explored or practised. Although the IMC process is by no means the only process available, I believe that it is one of the few timeless and sufficiently flexible procedures that may be followed by almost any investor to manage investment decisions successfully and yield consistent, superior investment results. The vast array of choices to be made by investors can understandably result in financial paralysis from information overload. The IMC process offers a way to distinguish valuable enhancements to your future financial well being from the occasional futile, and sometimes counterproductive, innovations of Wall Street and Bay Street.
I hope that these articles have sparked some additional interest in the area of investment management, identified potential areas of weakness in your current process or structure such that some mistakes may be averted or some opportunities seized, and provided some new distinctions on how to create more prosperity in your life.
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Many thanks for your consideration. May your journey offer you many full and rich experiences.