B.C. investors most “emotional” in Canada: BMO
B.C.'s investors are the most emotional in Canada, according to the results of a BMO Bank of Montreal survey.
The bank found that 47% of British Columbians say that emotion plays a role in their investment decisions, compared with the national average of 41%.
The bank also found that 63% of B.C. investors have made an investment decision based solely on impulse and 61% report that they are not always in control of emotions when investing.
The bank identified anticipation, trust and fear as the emotions felt most intensely by investors when deciding how to invest.
"Though we can't always help how we feel, it's important to keep our emotions in check when making decisions about investing," said Serge Pépin, vice-president, investment strategy, for BMO Asset Management Inc.
BMO also announced that, based on its research:
- 45% of British Columbians are not confident investors;
- 28% are not familiar with the companies in which they invest;
- only 17% conduct "careful and extensive" research before making investment decisions; and
- 15% have invested based solely on a company's name or logo.