If you own a stock and you've lost money in it, you're much more likely to hold onto it than if you approach that stock fresh. The question is what can you do going forward? Where should your next dollar go? Should it stay in the stock or should it move? If you would not buy the stock today, then you should sell it and move the money to a stock that you would buy - but we don't do that.
In her new book, “Quit: The Power of Knowing When to Walk Away,” Annie Duke says mastering the art of quitting is the key to making smart decisions.
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