Know When to Sell Before You Buy

What do you do when your stocks are losing? What do you do when they are winning?

If you're like most investors, your instinct will be to hold on when you’re losing and to sell when you’re winning. So say two Nobel Prize-winning behavioral scientists and economists.

If you want to be a successful investor, it's important to learn how to work against this instinct to hold on when you're losing and sell when you're winning. It’s not as easy as it may sound. I see seasoned investors make this mistake all the time.

In my course 7 Principles of Successful Investing, we’ll talk about how you can overcome these self-defeating behavioral biases. Check out a short excerpt from Day 3: Know When to Sell Before You Buy.

Fight the noise,
Dr. Richard Smith