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Strategies & Market Trends : The Market Taught Me That......

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To: Cynic 2005 who wrote ()11/8/1997 2:02:00 AM
From: Steve Patterson   of 151
 
I have found that my emotional response to price action is nearly always wrong.

My successful investments have been successful because I knew why I bought the stock, and therefore I knew why I should sell the stock.

My unsuccessful investments were based on either inadequate information (not knowing enough about the company or how to value it) or emotion (gee, it's a bit expensive, but it's going up, so I'll jump on).

Remember: not investing in a stock that doubles is not a problem. Investing in a stock that halves is a big problem.

Steve
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