In the book Demon of Our Own Design, Bookstaber outlines some peculiarities he noted among equity investors. One of the things that struck me was the point that most equity investors don't measure their success by account growth or % return, but rather how many times they were right. In this regard, these investors will hold onto losers and cut winners short simply to increase their win/loss %. Good for you blackguard, stick to those guns. Much better to be right than make money. Years from now you may be right. You can drive around your neighbourhood honking your horn and shout out the window, "I was right. How smart am I?" Quite funny that you are already counting your profits. Very objective thinking.
:eek: http://en.wikipedia.org/wiki/Denial "Denial is a defense mechanism in which a person is faced with a fact that is too painful to accept and rejects it instead, insisting that it is not true despite what may be overwhelming evidence."
The problem here is one of time frames. I think stocktr is an investor and willing to hold for the long term (5 to 10 years). In this case, I can't argue that good quality companies will continue to perform well. However, the others arguing with him are TRADING the markets and can't sit through a 20% correction as he's done. To each their own. In 5 to 10 years, stocktr will be able to once again toot his horn.