B.C. residents most emotional investors in Canada
People living in British Columbia are the most emotional investors in Canada, with many unaware of what is in their portfolios, a BMO report found.
Sixty-three per cent of B.C. investors have made an investment decision based on impulse and 47 per cent say emotion plays a role in their investment decisions, said Serge Pepin, vice-president, Investment Strategy at BMO Asset Management Inc.
The emotions described by investors are anticipation, trust and fear, the BMO Psychology of Investing Report found.
`Though we can`t always help how we feel, it`s important to keep our emotions in check when making decisions about investing,` Pepin said. `The money you invest today will determine your ability to achieve your financial objectives in the future. Wise investing decisions based on a well thought-out strategy will allow you to properly save for retirement and plan for other important life goals.`
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