10 ms·
Take a bit out now that it's at an all-time high. Ask yourself what you would regret in different scenarios? If it went down, of course you wouldn't regret it.
by reedlaw 10y ago
Take a bit out now that it's at an all-time high. Ask yourself what you would regret in different scenarios? If it went down, of course you wouldn't regret it. But if you cashed out some now and it continued to go up could you live with it? What if you used the money to buy something important to you?
- tominous 10y agoSee prospect theory [1]. But I think GP is approaching it in the right way to avoid these suboptimal biases: set reasonable limits up-front but otherwise treat it as a game. [1] https://en.wikipedia.org/wiki/Prospect_theory https://en.wikipedia.org/wiki/Prospect_theory