> No selling because you get spooked at a 50% drawdown. This is common-sense trading advice anyway. If short-term losses spook you into selling, you're probabl

> No selling because you get spooked at a 50% drawdown. This is common-sense trading advice anyway. If short-term losses spook you into selling, you're probably doing too much stock-picking and are not long enough. In fact, this is the often-cited reason that active investors can't beat index funds consistently.