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Show 9 The Magna TimesAVest Valley News, August 29, 2002 Business v. Investment Mistakes Utah's economic Avoid ecosystems site Information about Utah's economic ecosystems can now be found online. The Utah Technology Alliance, an office of the Utah Division of Business and Economic Development, recently launched a new Internet web site as a Day 200 milestone of Governor's 1000-Da-y Plan. "By promoting these key competency areas, we can help propel Utah to the of technology centop-titers in the country," said er Gov. Mike Leavitt "Ecosystem teams and pri- vate sector working groups will develop strategies for each city we will visit during the upcoming Olympic trade missions." Utah's current ecosys- tems or economic clusters include: biotechnology, digital media, medical devices, web services and the newly announced health informatics ecosystem. "One of our desires is that the site will offer someone coming to Utah comprehensive information about that ecosystem. long-ter- Whether its called "bad luck" or "bad timing," the things that go on in an investor's mind can often be their own worst including government agencies, facilities, support groups, and investors ail in one place," says Rod Linton, director of the Utah Technology Alliance. "The web site is designed so it can be expanded as new ecosystems are imple- - enemy,To help recognize misperceptions before its too late, consider these four common, but Emotions often drive investment behavior stronger than earnings forecasts or rumors of Fed interest rate hikes. Even if you know better, sometimes your brain gets caught up in the euphoria of the latest hot sector and causes you to get in to an overheated market But the key to investment success, says master investor Warren Buffett, is to be greedy when everyone else is fearful and fearful when nutraceuticals, aerospacegeneral aviation, sports, wealth management, travel and tourism, natural resources and agribusiness. The state's ecosystem concept was launched about a year ago, and a map was distributed about six months ago to introduce the information to the public. A registration page is available on the site that offers a free listing to any business in Utah that wants to be included in a select fund-whic- is a wholly-owne- of Mountain Volley ! i d Amet ica Credit Union. a!oti aitai dal until the story changes. Don't hang on to your losers. If you own a losing stock, you tell yourself you haven't actually lost money until you sell. But time in the market is money. If you're still waiting to break even, you may have even more ground to lose. The loyalty play. When your attachment to an investment is more emotional than Private Club For Members) rational, you're probably not going to know when to let go. If you feel personally attached, you need to accept that you're going to own it in good times and in bad or vow to get professional advice, and take o matter what. Ultimately, the best way to avoid mistakes in the market is to stick with the basics. Find an investment professional, who will talk to you about your personal goals, your dreams-an- d even your fears. Invest with your head, instead of your emo everyone else is greedy. Volatility or Risk Millions of Americans shun the stock market because they figure that "what goes up must come down." So they "play it safe" and keep their savings in a CD or money market when inflation outpaces the rate of interest usually lose money. The key is to match your investment choices with your time frame. If your needs are short term, stick to money markets and CDs. However, if you have ecosystem. An announcement will be sent to all known businesses in each ecosystem inviting them to add their names to the database. The site can be found at www.ecosystems.utah.gov Senices Fiank Godfiey, of West City, is a fid Don't sell too early. The opportunity to get in early on a company like Cisco or America Online doesn't come around often. If )ou were savvy enough to be there early, stick around Fear and Greed Those that will be added in the near future are Financial Consultant for Mountain Amet ica Investment and Insurance Senices. Mountain America Investment its peak. less notorious, investment mistakes that can sink your portfolio and how to avoid them. mented." tions, and there'll be one more vacant seat on the investment roller coaster that travels between fear and greed. goals, you can ride out the stock market's natural volatility because market nsk declines over time. 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