Liquidating is the rational action, but people are not always rational. Consider the two outcomes from selling stock early: - The company tanks. You maybe reta

Liquidating is the rational action, but people are not always rational. Consider the two outcomes from selling stock early: - The company tanks. You maybe retained some of the value of your stock, but you're still on a sinking ship. - The company takes off. Thanks to loss aversion you feel like you lost money that is rightfully yours. And your idiot co-worker who held just turned up for work in a supercar.