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Buy and Hedge: The 5 Iron Rules for Investing Over the Long Term by Wayne Ferbert, Jay Pestrichelli

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2. Emotion Is Your Enemy, So Bid It Good-Bye

“Are you crying? There’s no crying! There’s no crying in baseball!”

—Jimmy Dugan (played by Tom Hanks), coach of the Rockford Peaches in the movie A League of Their Own (1992)

Have you ever had a very important decision to make and thought, “If I could just let my emotions control my thinking, I bet I would be a better decision-maker”? Of course not. No one ever associates runaway emotions with thoughtful decision making. However, emotions often reside in your subconscious. In other words, emotions often affect your decision making without your realizing it.

Emotions play a role in every important decision you will ever make. Some people might be better at limiting the impact of emotion, but no one ...

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