One always has the option of redeeming from the AMC directly, irrespective of the facilitator of investment. Aggregators only provide the convenience of entering and updating data at a single place, eg: Nominee
Irrespective of the time of the day we choose to invest, NAV at the close of the business day is the one that's allocated.
IMO, trying to micro-manage long-term investments is a "the juice is not worth the squeeze" endeavor.
Golden words of wisdom from Charlie Munger -
The Psychology of Money is a very good read as well. Showed me mistakes I have done in the past and keep repeating.
TLDR of the book:
The author lists 20 "flaws, biases, and causes of bad behavior" -
- Earned success and deserved failure fallacy: A tendency to underestimate the role of luck and risk, and a failure to recognize that luck and risk are different sides of the same coin.
- Cost avoidance syndrome: A failure to identify the true costs of a situation, with too much emphasis on financial costs while ignoring the emotional price that must be paid to win a reward.
- Rich man in the car paradox. (You don't admire the man, you think people would admire you if you were the man.)
- A tendency to adjust to current circumstances in a way that makes forecasting your future desires and actions difficult, resulting in the inability to capture long-term compounding rewards that come from current decisions.
- Anchored-to-your-own-history bias: Your personal experiences makeup maybe 0.00000001% of what’s happened in the world but maybe 80% of how you think the world works.
- Historians are Prophets fallacy: Not seeing the irony that history is the study of surprises and changes while using it as a guide to the future. An overreliance on past data as a signal to future conditions in a field where innovation and change is the lifeblood of progress.
- The seduction of pessimism in a world where optimism is the most reasonable stance.
- Underappreciating the power of compounding, driven by the tendency to intuitively think about exponential growth in linear terms.
- Attachment to social proof in a field that demands contrarian thinking to achieve above-average results.
- An appeal to academia in a field that is governed not by clean rules but loose and unpredictable trends.
- The social utility of money coming at the direct expense of growing money; wealth is what you don’t see.
- A tendency toward action in a field where the first rule of compounding is to never interrupt it unnecessarily.
- Underestimating the need for room for error, not just financially but mentally and physically.
- A tendency to be influenced by the actions of other people who are playing a different financial game than you are.
- An attachment to financial entertainment due to the fact that money is emotional and emotions are revved up by argument, extreme views, flashing lights, and threats to your wellbeing.
- Optimism bias in risk-taking, or “Russian Roulette should statistically work” syndrome: An over attachment to favorable odds when the downside is unacceptable in any circumstance.
- A preference for skills in a field where skills don’t matter if they aren’t matched with the right behavior.
- Denial of inconsistencies between how you think the world should work and how the world actually works, driven by a desire to form a clean narrative of cause and effect despite the inherent complexities of everything involving money.
- Political beliefs driving financial decisions, influenced by economics being a misbehaved cousin of politics.
- The three-month bubble: Extrapolating the recent past into the near future, and then overestimating the extent to which whatever you anticipate will happen in the near future will impact your future
Stolen From:
https://www.collaborativefund.com/blog/the-psychology-of-money/ & /r/financialindependence/
timesofindia.indiatimes.com
www.valueresearchonline.com
