Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: tradermike_1999 who wrote (2447)	3/19/2001 1:01:16 AM
From: Steve Hegji	Read Replies (1) of 74559

In Pring's book "Investment Psychology Explained" he discusses how difficult it is for novice investors to take a loss. And also how quick they are to sell a winner to prevent the possibility of a loss. The end result is that they sell their winners and hold on to the losers - steadily building a portfolio stamped "with the shape of an L on (its) forehead". It was really eye opening at the to realize that's what I was doing too. And the whole time I thought I just had bad timing, when timing had nothing to do with it. I think they should be teaching this stuff in high school - just like they do (or used to) teach driver education as good public policy.

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