'You Need Grit to Quit' – Knowing When to Walk Away With Annie Duke
Stansberry Investor Hour
Cut Your Losses and Let Your Winners Run
The idea of cut your losses, let your winners run is so simple it should be on a stone tablet somewhere. We need to realize that cognitively the way that our mental accounting works. The temptation to sell your winners in order to take the profit is going to be really strong even in situations where you ought to let that ride. And we also have to recognize a cognitive problem of what does a winner and loser mean.
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