The stock markets continue to reflect uncertainty over the Middle East. What I have noticed is the considerable decline in the share prices of many of the Magnificent 7. The market seems to have rotated out of the tech sector in a rather significant way. Share prices are down 20-25% from the most recent highs.

What I have noticed in my own behaviour is a lack of conviction in the strategy that I have tried to implement. My portfolio continues to display considerable volatility. I get excited and hang on when the market moves up, and become concerned when it moves down. I want to reduce my exposure to stocks, but do nothing to implement the strategy. It’s the same old story, a deer locked in the headlights, and I can’t move.

Fortunately, a couple of months ago, I lightened up on a lot of the stocks that have taken quite a nosedive. But I still have several stocks that are not consistent with my developing desire to mitigate the risk in my portfolio.

The takeaway from all this is simple. I have failed over the years to develop an investment strategy, so I am like a cork tossed in the waves. Because of my personal issues, I fail to do what I need to do. It’s always the same story: you cannot succeed if you are not prepared to act. Anxiety and a lack of self-confidence lead to dysfunctional decision-making.

In addition, not adjusting your investment strategy to your stage of life will cause anxiety, distress and a failure to make critical decisions.