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Dr. Nate Zinsser, Josh Peck, Annie Duke, Amy Morin, Paul Bloom, and Yung Pueblo on Building Better Habits
The Daily Stoic
Are You in the Losses? Is That a Cognitive Phenomenon?
Being in the losses is a cognitive phenomenon, not an actual phenomenon. Richard Thaler said we don't like to close mental accounts in the losses. If you buy a stock at 50 and it goes to 80 and you hold it and it goes back down to 60, you're in the gains. You've made $10, but you're not cognitively in the gains Cognitively. So this is this really huge force of not wanting to convert losses on paper and to realize losses.
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