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Decide and Conquer: The Ultimate Guide for Improving Your Decision Making, Second Edition by Stephen P. Robbins

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31. Sometimes Doing Nothing Is Your Best Option

Don’t just do something, stand there!

—M. Gabel

Todd and Jim were brothers. Both in their early 30s, they had one strong interest in common: They loved playing the stock market. But beyond the mutual interest, they had very different emotional profiles. Todd was the cool and calm older brother. Jim was the “wild guy” with an aggressive, risk-taking personality. Not surprisingly, they responded differently to what they both described as the “August Massacre.”

On August 8, 2011, the Dow Jones stock average dropped 634 points or 5.5 percent. Two days later it dropped another 519 points or 4.6 percent. The market appeared to be in a free-fall, and investment portfolios were being decimated. Both Todd ...

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