• Skip to primary navigation
  • Skip to main content
Mullooly Asset Management, Inc

Mullooly Asset Management

Fiduciary Fee-Only Financial Planner | Investment Advisor in Wall, NJ

  • Services
    • Wealth Management
    • Financial Planning
    • Retirement Planning
    • Investment
    • Estate Planning
  • Our Fees
  • About
  • 732-223-9000
  • Schedule A Meeting

Services

  • Wealth Management
  • Financial Planning
  • Retirement Planning
  • Investment
  • Estate Planning

Quick Links

  • About
  • Our Fees
  • Videos
  • Podcasts
  • Blog

Support

  • Contact
  • Client Login
  • Pay Bill Online
  • Form CRS
  • Our Process
Follow us on Facebook
Follow us on Linkedin
Follow us on Twitter
Watch On Youtube

Let’s talk

We All Hate Uncertainty

June 30, 2015 by Brendan Mullooly, CFP®

Ben Carlson of A Wealth of Common Sense has this to say regarding the recent Greek drama:

“If you’ve been following the Greek saga from the start you begin to realize that even the experts on the situation are pretty much just making it up as they go. How often do the economists change their odds for the probability of a Grexit? Maybe stop guessing since your forecast is worthless in a matter of hours? Trying to place odds on the likely outcomes of these types of political scenarios is like trying to count cards in blackjack when the dealer re-shuffles all six decks after each hand.”

Most of us read something like this and generally agree with it, but then we continue seeking answers to all our burning questions. What will happen with Greece? Is the market going to be higher or lower over the next month? What will the weather be like on my vacation? Humans hate uncertainty and will do almost anything to eliminate it (or create the illusion of eliminating it).

Uncertainty drives us all so crazy that we actively seek out any information that resembles a “solution”. The possibility of eliminating the uncertainty gives us comfort, although it probably shouldn’t. We just can’t seem to accept that many things in life are out of our control.

It takes practice, but I think the best solution is to accept that there doesn’t always need to be a “why”. Some things just are, whether they jive with the story you’ve created or not. Creating stories can be dangerous, as they’re often a breeding ground for behavioral biases.

This is a big reason why we use point and figure charts at Mullooly Asset Management. They don’t predict the future, they tell us what’s happening right now. This allows us to monitor investments without trying to outguess the market. I recently wrote about this here: https://mullooly.net/technical-analysis-helps-us-focus-on-what-we-can-control/8225

Check out Ben’s post here: Letting Go of the Why

Never miss a post...and we deliver!

newsletter mailman

Get our updates delivered right to your inbox. Sign up today!

Success! Now go and check your email to confirm your subscription.

There was an error submitting your subscription. Please try again.

We won't send you spam. Unsubscribe at any time. Powered by ConvertKit

Filed Under: Investor Behavior, News Tagged With: behavioral finance

About Brendan Mullooly, CFP®

Brendan Mullooly is a CERTIFIED FINANCIAL PLANNER™professional with Mullooly Asset Management, Inc.

1971 State Route 34, Suite 102
Wall Township, NJ 07719

  • 732-223-9000
732-223-9600
  • support@mullooly.net
  • Services
  • About
  • Our Fees
  • Contact
  • Form CRS
  • Videos
  • Podcasts
  • Blog
  • Client Login
  • Pay Bill Online
  • Our Process

The information on this website and blog do not involve the rendering of personalized investment advice. A professional advisor should be consulted before implementing any of the options presented. None of the content contained in this website should be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.

© 2022 Mullooly Asset Management Inc. All Rights Reserved.

  • Privacy
  • Disclosures and Legal Disclaimers
  • Privacy
  • Disclosures and Legal Disclaimers

© 2022 Mullooly Asset Management Inc. All Rights Reserved.