No. of Recommendations: 12
If I had been fully invested I might have sat on my hands a bit more rather than yelling "sell sell sell"
Shouldn't one act at any time unemotionally and exactly identical no matter whether money currently is invested or not? How is that bias called to not sell something only because you currently own it, while on the other hand you wouldn't buy it if not currently owning it? Mental laziness?
As mentioned, I am observing myself to determine if I'm suffering from the endowment effect. (the fallacious tendency to overvalue what you currently have, versus what you might trade it for instead which seems rationally to be worth more).
I don't think I'm doing that, but I allow the possibility. Another possibility is that I'm just stubborn. But what I *think* I'm doing is being patient. Sitting on cash, potentially for a long time, waiting for a nice deal to come along with a margin of safety. Hmmm, who does that remind me of...
Jim
