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Read our most recent newsletters:
Bull Markets can be Frustrating 01/15/11
Sin and Forgiveness 12/31/10
Chinese Currency Problem 12/15/10
Things are Looking Up 11/15/10
Circus Clowns and Tomato Farmers 10/31/10
"Safe Investments" Can be Dangerous 10/15/10
Confidence is a Rare Commodity 09/15/10
US is Slowing - not Stalling 08/31/10
China's Uncertain Future 08/15/10
The Sun Will Rise 07/31/10
Value versus Trend 06/30/10
Perception of Value 06/15/10
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Gender Specific Investing
"As investors, women are less knowledgeable and interested than men, but make fewer mistakes (and don't repeat them as often)."
Merrill Lynch Investment Managers Survey April 2005
The quote above makes it clear that both males and females have "gender specific" characteristics as investors. While women tend to be more risk aversive, less knowledgeable and interested in the market; men tend to buy "hot" investments without research, hold losing investments too long, and ignore tax consequences of investing decisions. (Merrill Lynch Investment Managers Survey April 2005) In fact, the National Association of Investors Corporation reported female investment clubs reported an average lifetime compound return of 32.1 percent versus 23.2 percent for all male-investment clubs. (NAIC 1995) Based on this information, I would say women need no more specific investment advice than do men. This however, is not a common view.
Google the words "women investing" and you will be overwhelmed with websites such as WIFE.org (Women's Institute for Financial Education) and titles of books such as "It Takes Money, Honey; Prince Charming Isn't Coming; A Girl Needs Cash; or The Courage to Be Rich". Google "men investing" and you find articles such as "Hard-money men: Investing in survival", and "His and hers investing: He's got confidence, while she's scared of the whole shebang. What gets in the way of women and investing?"
Why isn't anyone talking about what gets in the way of men and cutting losses, or doing the proper research? I think both of those skills are equally as important as understanding and knowing when to take risks. How about a book titled "Guy, research before you buy", or "How to let go of your ego, before your accounts takes another blow." Labeling and marketing women as needing "individualized" financial advice based on gender differences in investing, but not treating men in the same way is biased and outdated.
We all know that men and women are different, this is no news. Based on these differences it is only expected that men and women would behave differently as investors. This does not mean however, that one gender's negative investor behavior is more appropriate than the other. Losing or making money is neither male nor female! And that after all ... is the bottom line!