Conventional wisdom is emotional comfort food.
A book for traders and risk managers about emotional wisdom and self-awareness needs a benchmark to compare the various levels of risk against. In this chapter, I take a look at what buy-and-hold investors must be going through emotionally.
To me, owning something without having a defined exit point is reckless behavior. I believe this is true for any type of trader or mutual fund investor. People work too hard for their money, and there seems to be a big disconnect between the potential for substantial loss and risk management on Wall Street.
Owning something without having a defined exit point is reckless behavior.
Contrary to what you may have read, ...