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Quote by Coreen T. Sol

“Once bitten, twice shy isn't a very good investment strategy.”

Quote by Coreen T. Sol

Book:Unbiased Investor: Reduce Financial Stress and Keep More of Your Money

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Unbiased Investor: Reduce Financial Stress and Keep More of Your Money

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“Tread carefully when making assumptions based on representativeness. If it walks like a duck and talks like a duck, it might not be a duck.”

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“Money illusion is also why your Uncle John still gives you $50 per year for your birthday. That's the same amount that he's given you since you were born, and it used to be a tidy sum of money back then.”

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“The more times in a row that the coin lands on heads, your confidence in calling heads will grow, even though the odds have not changed.”

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“Anticipating the pain of regret if the odds don't play out as expected can impel you to play your hand prematurely. This is why a plaintiff may settle for a reduced award rather than take their chances in a court.”

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“With gambling or investing, if your gains are quick and easy, you will tend to keep the money in a separate mental account. So, if you subsequently lose it, you won't feel as upset as you'd think if you lost the money you brought to the casino. Yet, they are both pots of currency.”

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“You're more inclined to make a new investment after having success on your most recent transaction.”

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“Generally, you'll be motivated to sell sound investments and hold onto the bad ones because we prefer to feel good about the gains and avoid the pain of acknowledging loss.”

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“In every case of frenzied investing and herd mentality, investors who participate later in the cycle operate at an elevated and often unnecessary risk.”

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