Abstract
Management is responsible for a company's success or failure and the same is true for investment performance. Investors and asset managers act according to certain guidelines, which are not universal and can change over time. A portfolio of securities should be dynamically controlled. The seventh golden rule for traders and investors is that they should always do their homework in a way that is meticulous but not arrogant. Homework helps in avoiding the herd. The mistake most people make is that they stick to the same investment strategy all the time or, alternatively, they make too many switches. The way financial blunders go and the inability to adapt to changing market conditions can lead to a torrent of red ink. The same is true for changing too often and too fast without adequate study and preparation. Doing one's homework has many aspects. One of these is to consider alternative scenarios, from the most likely to the most unlikely out comes.
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