During these times of uncertainty – oil prices fluctuating, slowdown in the economy, interest rate confusion, investors may be encouraged to make changes to their well-structured investments. It is always prudent to re-visit your investment plans within the scope of your financial objectives. But changing your plans based on recent events, news items, or forecasts is not a prudent approach to investment management.

Remember these principles of sound management when investing:

1. No one can predict the future

Yes, it’s true – NOBODY knows the future.We don’t even know what will happen tomorrow. People want to believe that it is possible to predict events and outcomes.

Unfortunately, not even that renowned investor,Warren Buffet, can foresee the future. Some people make lucky guesses or constantly predict calamities. Famed investment analyst Elaine Gazarelli predicted (guessed) to the exact date that there would be a crash on October 19, 1987, yet her track record after that prediction has been miserable.

If every day you say it’s going to rain, eventually you will be right.

Yet some events have a level of certainty.The sun has a record of rising every day – sure, clouds block it some days – but it still shines.You know that in winter it will most likely snow in most cities in Canada. You also recognize that the winter will end, followed by spring and summer. ...

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