3 important things to remember after an investing near miss

According to Vanguard’s research How America Invests 2020, advised households have a tighter range of equity holdings, exhibiting less extreme allocations and, therefore, a more disciplined approach to investing. This observation is a result of Vanguard making portfolio allocation decisions as the advisor.


Robin Dillon-Merrill, Catherine H. Tinsley, and Matthew A. Cronin. 2012. “How Near-Miss Events Amplify or Attenuate Risky Decision Making.” Management Science 58 (9): 1596–1613.

Robin Dillon-Merrill and Catherine H. Tinsley. 2005. “‘Whew! That Was Close’: How Near-Miss Events Bias Subsequent Decision Making Under Risk.” Academy of Management Proceedings 1: B1–B6. Briarcliff Manor, NY 10510: Academy of Management.

Advice services are provided by Vanguard Advisers, Inc., a registered investment advisor, or by Vanguard National Trust Company, a federally chartered, limited-purpose trust company.

Vanguard Digital Advisor’s services are provided by Vanguard Advisers, Inc. (“VAI”), a federally registered investment advisor. VAI is a subsidiary of The Vanguard Group, Inc. (“VGI”), and an affiliate of Vanguard Marketing Corporation (“VMC”). Neither VAI, Digital Advisor, VGI, nor VMC guarantees profits or protection from losses.

All investing is subject to risk, including the possible loss of the money you invest.

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